Southeast Queensland sees surge in land market as supply returns
By
The Southeast Queensland land market is experiencing a significant recovery, with a surge of new supply entering the market this weekend.
According to property services group Oliver Hume, this quarter is shaping up to be the busiest in nearly three years. More than 80 new homesites across projects in Helensvale, Gleneagle, Park Ridge, and Coomera are being released, with hundreds of potential buyers already registered.
Dan Ross, Oliver Hume Queensland General Manager, noted the robust demand, particularly among first home buyers eager to exit the rental market and second home buyers looking to leverage recent capital gains to upgrade.
“Such is the demand that we expect most, if not all, of these homesites to be sold in the next month,” Mr. Ross stated.
Julian Coppini, CEO of Project Marketing at Oliver Hume, commented on the easing supply constraints that have affected the market for the last three years.
“The HomeBuilder initiative brought forward a lot of land releases across the southeast, followed by a period of undersupply as developers struggled to bring projects to market,” he explained. Coppini anticipates a return to more normal market conditions, offering buyers a wider range of choices.
Despite ongoing concerns about building prices, many buyers are focusing on homesites ready for construction within the next six months, with registered and build-ready sites being particularly popular.
==
==
The latest Quarterly Market Insights report by Oliver Hume for the March quarter showed Ipswich reclaiming its position as Southeast Queensland’s most affordable area for new land buyers.
Prices in Ipswich dipped slightly, making it over $12,000 cheaper on average than Logan, which had previously held the title for best value land in the region for more than a year.
Logan’s prices surged by 3.8% to $332,000 due to increased demand, while the median land price in Ipswich dropped by 2.6% to $319,000, though it remained 1.6% higher year-on-year.