Nationwide State Governments have been considering blueprints for future urban growth within their capital cities, suburbs and country towns. The reasons include not only population growth but also a predicted increase in numbers of the aged and single person households.
One person championing this type of planning is Harley Dale of the Housing Industry Association. He views property development as “a topical thing to be looking at, in the sense that you would expect subdivisions are going to become more prevalent in the future and it’s an aspect of housing that’s going to increase over time.”
“The two primary reasons for that are what’s going on with growth boundaries in cities and density requirements for housing.” In many areas now you have “significant land constraints, which in turn will channel more people down the route of subdividing in terms of property investment,” Dale adds.
He continues saying: “We’re probably going to see this as a more viable investment option, simply because there’s been a massive increase in the price of land in recent times. This has been particularly occurring on the fringes of capital cities.” This trend could direct people’s thinking more towards subdivision as opposed to developing a new block.
He concludes: “People looking to invest in property are going to see an incentive there to supply the market, but within constraints that might promote more subdividing than we’ve seen in previous cycles.”
If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.
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