Following on from last week’s post – revisit here – this week I have looked at the state of play for new housing supply and underlying demand for south east Queensland.
Two tables are included, the first looks at the situation by major region – inner Brisbane (within 5km of the CBD); middle Brisbane (between 5 and 20km); outer suburbs (20 to 50km) and the outer conurbation (50km+) – and the second table, by local authority area.
The LGA table is at the end of the post in the Missive extra area.
Table 1: Underlying dwelling demand versus actual dwelling supply
|LGA||Underlying demand||Dwelling supply||Status of new housing supply|
1. Inner Brisbane’s supply overhang is almost absorbed. For more go here.
2. There is too much of the wrong stock across Brisbane’s middle ring suburbs. Think five + storey apartment product in locations without high enough local amenity and infrastructure provision to offset this building density.
There is a need for more infill housing; boutique townhouse or terrace projects and the old fashion three storey six packs but only in the right locations and with a very high degree of market match.
3. Overall the outer suburbs are keeping up with demand, but it isn’t an even spread. Logan and Moreton Bay are struggling, whilst Ipswich and Redlands have enough registered new stock for the time being. See the Missive extra table below.
4. The outer conurbation, across the board, is struggling with new dwelling supply. Again see the Missive extra table below.