Perth price rise proceeds with June value bump
Homes in Perth have continued their strong year of growth, with values rising throughout June. ...
The Queensland government is currently considering a plan to build an expansive new suburb within a short commute to Brisbane’s inner city.
A planning application has been submitted by developer Cedar Woods for a 227-hectare site near D’Aguilar National Park in Brisbane’s north west.
The proposal would see 1,350 new residential dwellings built in the area, with construction earmarked to begin in 2015.
A report from PRDNationwide said the suburb would be remarkable for its proximity to the Brisbane CBD.
“While other development sites outside of Brisbane, such as North Lakes and Springfield Lakes, have been enjoying enormous success, the attractiveness of this proposal lies with its close proximity to the city’s centre,” the report said.
“The suburb will lie only 12 kilometres from the Brisbane CBD, meaning a significantly reduced travel time for city workers to and from the area.”
The report also highlights a discrepancy between dwelling approvals for houses and units, suggesting a need for new detached dwellings.
“In the 12 months to March 2014, ABS dwelling approval figures for the Brisbane City region showed 9,525 units and townhouses were approved as opposed to just 2,616 houses – a ratio 3 to 1,” it said.
“While the current increase in unit and townhouse supply is welcomed it does not cater towards all demographics, particularly families with children who yearn for a backyard but don’t have the income to support a large mortgage.”