Untapped Demand, Strong Potential in South West Queensland

[ad_1]

Promoted by the South West Queensland Regional Organisation of Councils

South West Queensland is larger than the State of Victoria (based on area) and has a population of 24,000, spread out across a number of towns and villages. The region has a strong economy bolstered by a diversified agriculture industry and a booming resource sector. The region is well connected with six municipal airports, various national highways, rail and some of the fastest download speeds in regional Australia.  

There has been considerable underinvestment in housing across the South West region over the last decade, resulting in a local market with high demand and a complete lack of stock. Residential vacancy rates across the region range from 0% to 1.7% over the last year, demonstrating a chronic lack of housing.1 

Serviced residential land is plentiful and affordable, costing between $2,000 and $25,000 per block.  

Table 1. Serviced Residential Lots  









Local Government Area  

Number of Available Lots  

Number of Future Lots 

Balonne 

14 

38 

Bulloo 

44 

Maranoa  

23 

400 

Murweh 

Paroo  

23 

20 

Quilpie  

26 

66 

Total  

134 

524 

Source: Regional Australia Institute (2021) 

There is strong demand for housing across the region, stemming from local businesses expanding and seeking to hire additional staff as well as from a number of government agencies that require housing for their growing staff numbers. The Queensland Police Force, Department of Health, Department of Education and numerous local governments all have new staff requirements and need housing for them.  

Mayor of Paroo Shire, Suzette Beresford said, “Council is looking for houses, the police force is looking for houses, the health services are also looking; we all need housing to support our growing workforce.” 

A recent study has identified that there is demand for over 600 new residential dwellings in the region over the next three years.2 A variety of housing and various sizes are required, ranging from 1-2 bedroom units to 3-4 bedroom homes. The local governments alone require 42 new dwellings and have an additional 82 that require considerable renovation and/or complete redevelopment.  

Figure 1. Residential Dwelling Demand, by Type (South West Queensland)  

Source: Regional Australia Institute (2021) 

Figure 1. Residential Dwelling Demand, by Type (South West Queensland)  

Source: Regional Australia Institute (2021) 

In the last 12 months, over $41 million has been invested across a range of infrastructure projects including transport, agriculture, tourism and telecommunications that will continue to support strong growth into the future.  

Mayor Beresford said, “The region has invested significantly in infrastructure, and we have a great lifestyle to offer everyone.” 

It is a great time to explore housing investment opportunities in South West Queensland.  

For more information about South West Queensland visit www.swqroc.com.au.  


Top Suburbs :


eagle vale


,

westbrook


,

coburg north


,

penrith


,

kariong


Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we’ll then arrange for a local mortgage broker to contact you and work out what features or types of loans are right for your needs. We’ll even help with the paperwork. Plus an appointment is free.

 

We value your privacy and treat all your information seriously – you can check out
our privacy policy here



[ad_2]

Source link

Call Us Now