- September 13, 2021
- Posted by: Rogers Property Group
- Categories: Brisbane Property Market, Latest News, Queensland Property News
Queensland’s is drastically undersupplied for housing and construction cannot keep up with interstate migration. While property prices continue to surge across the region, Queensland has unlocked nearly 50,000 lots as part of the state’s Covid economic recovery plan providing more jobs to people and boosting the residential construction industry. These residential lots are located between the Gold Coast and Sunshine Coast where population growth pushes up demand in the area due to interstate migration.
Queensland has also allocated funding for infrastructure including roads, sewage works and schools for the new lots near Redland, Moreton Bay, Logan and out to Ripley Valley. Minister for state development Steven Miles has announced that they will focus their future infrastructure development on Brisbane, Redland, Sunshine Coast and the Gold Coast. Indeed, QLD’s strong health response to the Covid-19 pandemic has created a significant increase in interstate migration leading to put pressure on land supply across the state.
It is anticipated that both the Greater Flagstone and Ripley Valley will be home to around 120,000 people and so the right infrastructure should be in place to support the growth. State Development’s GAT (Growth Areas Team) has also recently identified Caboolture West as Queensland’s newest suburb while Stephen Harrison, director of Pacific International Development Corporation said they were working on a new property development at Greater Flagstone – Flinders Lakes Development. The development includes 21,450 homes along with schools, colleges and university campuses with the aim to promote Queensland’s lifestyle nationally and internationally through world-class master-planned communities.
Number of lots unlocked since November 2020 along with additional funding from QLD Government