The Queensland government has unlocked nearly 50,000 lots between the Gold Coast and Sunshine Coast as population growth pushes up demand.
Land supply was part of the state’s Covid economic recovery plan to provide jobs as property prices continue to surge across the region.
Funding was also allocated 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 said the team were focusing on Brisbane, Redland, Sunshine Coast and the Gold Coast for other future sites.
Residential lots unlocked since November 2020
| Location | Lots | Additional funding |
|---|---|---|
| Greater Flagstone | 27,000 lots | $31 million from Catalyst Infrastructure Fund for critical road infrastructure |
| Ripley Valley | 5,600 lots | $5.91 million from Catalyst Infrastructure Fund for critical road infrastructure |
| Southern Redland Bay | 5,000 lots | $15 million from Building Acceleration Fund for a new wastewater management plant |
| Caloundra South | 3,091 lots | – |
| Caboolture West | 3,000 lots | $10.5 million from Building Acceleration Fund for water supply and sewage infrastructure |
| Yarrabilba | 2,000 lots | $15 million from Building Acceleration Fund for infrastructure for primary school site and roads |
| Bahr’s Scrub | 1,700 lots | $15 million from Building Acceleration Fund to improve access and transport efficiency |
^Source: Queensland Government
“Our strong health response to the Covid-19 pandemic has created a spike in interstate migration which has put pressure on land supply across the state,” Miles said.
“Greater Flagstone and Ripley Valley are both expected to be home to around 120,000 people so it’s important we have the right infrastructure in place to support that growth. ”
The Growth Areas Team announced a pilot site for land supply in March, identifying Caboolture West as Queensland’s newest suburb.
The 2032 Olympics and Paralympic Games in Brisbane is expected to further stimulate population growth and property demand.
Pacific International Development Corporation director Stephen Harrison said they were working on the Flinders Lakes development at Greater Flagstone.
“It will also result in the acceleration of significant investment by the private sector to complement the road construction works,” Harrison said.
“We’re keen to continue to work with the Queensland Government and Logan City Council to deliver world-class master-planned communities that will promote Queensland’s lifestyle nationally and internationally.”
The development includes 21,450 homes in the foothills of Flinders Peak along with schools, colleges and university campuses.
Article Source:www.theurbandeveloper.com
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