June 2018 – Brisbane LGA Vacant Land, 2017 Calendar Year Report

19 June, 2018 / Vanessa Rader and Mark Creevey

The Brisbane residential house and land market has performed strongly over the past 12 months showing an increase in pricing for median vacant land to a new high of $412,000 being a lift of over 10% from the previous year.

The market has responded to firming conditions with supply of vacant lots showing a sharp 31% increase in new lots registered coupled with a 9% lift in lot approvals perhaps demonstrating developers expectation of firming future demand.

Given there is a marginal lift (3%) in the number of projects from last year it would appear that the significant increase has come from established estates turning on further supply to cater for demand.

We would expect to see price growth continue to firm largely due to the lack of available land for development as well as a developer focus owner occupier product allowing for higher quality housing.

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