Building activity is heating up in Brisbane’s Bayside as the housing recovery gets into full swing.
According to Harcourts Real Estate, 52 units and 28 new homes are currently under construction across Lota, Manly and Wynnum in Brisbane’s eastern suburbs.
In addition, 26 blocks of land are currently for sale in the area.
Harcourts Green Living agent Alan Tapley said investor interest in the region was on the rise.
“If you drive through Manly, Wynnum or Lota you will notice a number of new developments and blocks of land for sale,” he said.
“We are seeing a demand for larger blocks on two titles being subdivided and unit blocks being built in central Wynnum and Manly.”
Vacant land with development potential near transport, amenities and the waterfront are particularly popular, according to Mr Tapley.
The Australian Bureau of Statistics recorded a 44.5 per cent increase in dwelling approvals across Brisbane over the past 12 months, with units making up the largest portion of these.
According to RP Data, growth in the suburb has been moderate over the past year – house prices in Wynnum have grown by four per cent over the past 12 months while units have risen by one per cent.