Regional Land Equals Hot Property
Despite a 25 per cent fall in land prices in the past 12 months, Brisbane is still the second most expensive market for land ($821 per sqm) out of the six South East Queensland council regions.
Redland Council overtook Brisbane with a higher price of $840 per sqm for land.
Vacant land in the Gold Coast experienced an opposite result to that of Brisbane, with a surging demand resulting in a 26 per cent rise. At $714 per sqm, it is SEQ’s third highest price for land.
Owner occupiers are the key buyers of land (94 per cent) in SEQ during the March quarter, while first home buyers accounted for the majority of the market (72 per cent)
With Queensland recently welcoming their five millionth resident, demand for property and vacant residential land isn’t slowing soon.