Property news you need to know: The week ending 19 September
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Development spending has risen in the Yatala area by 16 per cent in the past year, according to the latest research from Colliers International.
Spending in the south east Queensland suburb and its surrounding areas has increased by nearly $1 billion to $7.14 billion, which Colliers International says reflects the enormous growth in the area.
The spending is distributed across 67 projects, 58 of which are under construction – a mixture of residential and commercial projects.
Lynda Campbell, Colliers International research manager, said the largest increase in development spending in the Yatala area over the past year was in the residential sector, which rose from around $3.854 billion to $4.743 billion.
“Five residential projects were added to the pipeline, while the dollar value for four residential projects was increased,” she said.
The largest project added to the pipeline was the $80 million Caterpillar Distribution Centre at Yatala, which is currently under construction.
“Other development projects that were added to the list include the $30 million Watersun Rise residential project at Stapylton,” Ms Campbell said.and a $28 million commercial project at Road in