An inner-city exodus is driving a property boom in southeast Queensland’s masterplanned communities and outer suburbs, where COVID-weary buyers are seeking space and affordability.
Record-low interest rates, the rise of remote working, first-home buyer government incentives and the impact of COVID-19 on buyer preferences has also driven an 84 per cent surge in demand for homes in Park Ridge, and a 78 per cent increase in Upper Caboolture.
The research is based on the number of visits to a listing, listing interactions, saving the property, sharing the property and/or making an inquiry with the agent via phone or email.
Realestate.com.au chief economist Nerida Conisbee said the demand was being driven by first-home buyers, affordability and buyers craving space.
“If we have a look at the same time last year, there wouldn’t have been many projects out there, so there has been quite a change in the type of housing available,” Ms Conisbee said.
“More broadly we’re seeing very strong interest in house and land off the back of HomeBuilder.” Source: realestate.com.au
Up to 6000 jobs will be created at one of Queensland’s largest industrial projects.
The the $1.5 billion Crestmead Logistics Estate will be developed over the next five years by Queensland developer Pointcorp and will deliver 650,000 sqm of warehousing, business, logistics and manufacturing space.
Stage one of the project will be completed in December. The 36-hectare parcel was purchased by Singapore’s Mapletree Investments for $90 million. It will develop a $440 million logistics park spanning 200,000 sqm.
City of Logan Mayor Darren Power visited the site today with Queensland Treasurer and Member for Woodridge Cameron Dick.
Cr Power said the nine-stage project was a “game-changer” for South East Queensland.
“This project is a strong endorsement for investment in our city and will create thousands of jobs for locals,” he said.
“Council is committed to ensuring that Logan remains an attractive place for businesses to establish and grow.
“Our city is facing economic challenges like many others around the country with COVID-19 impacts and this sends a clear message that Logan is open for business.”
Cr Power said ‘Logan well and truly punched above its weight’ and was fast establishing itself as a hub for major transport and logistics in Queensland.
“There are vast investment opportunities in Logan for companies in the manufacturing, transport and logistics industries and we anticipate this growth in the commercial and industrial sector to continue,” he said.
“We are seeing a platform of investment across the city where multinationals are setting up headquarters and securing land that is affordable and abundant.
“This location benefits significantly from the recently upgraded Wembley Road Interchange, providing occupiers with efficient access to a network of roads servicing greater Brisbane, South East Queensland and key interstate transport routes.”
Cr Power said planning support and guidance from Council would also enhance development outcomes and assist in job creation and long-term employment opportunities within the region.
Located within the Logan City Council industrial corridor, Crestmead Logistics Estate is accessible to the Logan and Gateway Motorways, which are the main transport arterials for SEQ.
Queensland Treasurer and Member for Woodridge Cameron Dick said the potential of the estate was obvious, making it an exciting addition to Logan’s industrial landscape.
“Job creation is so important right now given the current global economic climate,” Mr Dick said.
“COVID-19 has had a huge impact on every community in our state, Logan included. A development of this size will make a great difference when it comes to boosting employment locally.
“We’re seeing this already with construction workers on site, and once businesses begin setting up shop here those job numbers are going to grow, both in the estate and along industry supply chains.
“This project complements our government’s $6.2 billion COVID economic recovery strategy, Unite and Recover for Queensland Jobs, and will help the City of Logan emerge from the pandemic stronger and best placed to prosper.”
The project, on the corner of Green and Clarke Roads, has been amalgamated over a five-year period and adds to an existing 170,000 sqm of commercial activity underway or planned in Logan over the next 12 months.