Southeast Queensland sees surge in demand for apartment living amidst housing shift

In an evolving property landscape, Southeast Queensland is witnessing a significant shift towards apartment living, driven by both investor interest and homeowner needs for more affordable, low-maintenance housing solutions. TOTAL Property Group, a leader in property sales and marketing within the region, is advising property developers to meet this burgeoning demand by focusing on the construction of one and two-bedroom apartments.

Adrian Parsons, Managing Director of TOTAL Property Group, with over 25 years of experience in the property sector, leverages his extensive industry knowledge to offer precise market projections. The Group’s insights reveal a growing trend towards downsizing, initially spotted in 2018, and an increased demand for high-end luxury apartments in prime locations. However, a notable surge in interest for smaller, more affordable units in suburban areas is now emerging.

“The strong demand spans the spectrum, from luxury to more economical apartment options. This is an opportune moment for developers to consider smaller apartment projects in suburban locales with untapped potential,” Parsons explained. He underscored the importance of recognizing the evolving market needs early in the development planning phase to capitalize on fast-selling opportunities.

Southeast Queensland’s demographic dynamics play a crucial role in this trend, with the state’s population growing by 2.7% in the year to September, outpacing the national average. The Brisbane City Council anticipates a 20% population increase by 2041, further amplifying housing demand. Concurrently, the region is experiencing a decline in home building approvals, a reduction of 9.5% from 2018 to 2024, exacerbating the supply shortage.

One illustrative success story is the Summerlin Banyo development in Brisbane’s northeast, which TOTAL Property Group presented to the market. This eight-stage project, consisting of 188 apartments and townhomes, responded directly to the market demand for quality, moderately sized apartments coupled with resort-style amenities, resulting in a complete sellout.

Parsons highlighted the importance of leveraging comprehensive market analysis and buyer enquiry data to tailor developments to current and future market demands. “Our approach ensures developments not only meet but exceed market expectations, making them highly attractive to a ready and active buyer segment,” he said.

With Southeast Queensland’s population growth expected to continue, developers are presented with a prime opportunity to introduce projects that cater to the need for more accessible housing options and appealing investment opportunities. TOTAL Property Group’s expertise in guiding developers from conception through to sales underscores the importance of strategic planning and market awareness in today’s competitive property landscape.

For developers and investors alike, the shift towards apartment living in Southeast Queensland signals a pivotal change in housing preferences, influenced by affordability, lifestyle choices, and location desirability. TOTAL Property Group’s role in navigating these trends underscores its commitment to delivering successful, market-driven property solutions.