The Redland City LGA residential land market has shown favourable results in the 2016 calendar year. Median values for house and land packages have continued their upward momentum reaching a new high of $537,000 while the volume of transactions has grown by 7.8% to 250.
Vacant land sales rates have increased considerably off the back of a number of island projects raising volumes to 1,304 yet these lower value transactions has resulted in an “island median” of just $90,000.
Lot approvals across the whole of Redland City has fallen this year by 34.7% to 467 which is similar to levels achieved in 2013.
This location has strong ties to Moreton Bay and has a focus on lifestyle living which will ensure that there is a strong demand for residential land within this locality.
House and land package sales have been the stand out performer for this region increasing their volume of sales each year for the last five years, recorded at 250 in the 2016 calendar year, ahead of the 2015 result of 232. These numbers of sales are the highest recorded highlighting the attractiveness of these packages resulting in a 7.8% increase in value in the last year to $537,000.