The Land Shortage Crisis in Brisbane and Surrounds, What It Means for Buyers

“Land shortage is a growing concern in Brisbane, with only a limited amount of approved land available for purchase. This can have a significant impact on potential buyers, particularly those who are looking to build their own homes or invest in property. ” - National Investment Advisory

Introduction:

In recent years, Brisbane has been one of the fastest growing cities in Australia, attracting people from all over the country and the world. This has led to a significant increase in demand for land and property, which has put pressure on the already limited supply of available land.

The Queensland Government has released projections that show that Brisbane only has 2.9 years of approved land remaining, putting buyers in a difficult situation where they need to act fast to secure their piece of land. 

Land shortage is a growing concern in Brisbane, with only a limited amount of approved land available for purchase. This can have a significant impact on potential buyers, particularly those who are looking to build their own homes or invest in property. 

Queensland currently needs an additional 31,979 dwelling each year to keep up with demand. 

With the 2032 Olympics now announced to be held in Brisbane, the city is expected to experience a surge in interstate and international migration, putting even more pressure on the already limited supply of available land.

To help potential buyers understand the situation better, it is essential to consider the following information:

Where is land running out?

According to the Queensland Government's projections, most of the Australian metro and regional hubs have been affected by the land shortage crisis. Brisbane, Noosa, Gold Coast, Sunshine Coast, Redlands, and Moreton Bay are among the areas where land is running out quickly. 

What are the implications of the land shortage crisis?

The land shortage crisis has a significant impact on potential buyers in many ways. Firstly, it can make it more difficult to find suitable land for building or investment purposes, which can limit the opportunities available to buyers. Secondly, it can lead to increased competition for available land, which can drive up prices and make it more challenging for buyers to secure a good deal. Thirdly, it can create a sense of urgency among potential buyers, encouraging them to act quickly to secure their piece of land before it's too late.

What can potential buyers do to address the land shortage crisis?

There are several things that potential buyers can do to address the land shortage crisis. 

Firstly, they can act quickly to secure their piece of land, taking advantage of the available opportunities before they disappear. 

Secondly, they can consider buying untitled land, which can provide a significant return on investment in the long run. 

Thirdly, they can seek expert advice from real estate professionals to help them navigate the complexities of the buying process and find the best opportunities available.

“While most are sitting on the fence at the moment, you may want to consider securing land now” - Marlene Cutter, Principal, Picture Perfect Properties

SOURCE: nationalinvestmentadvisory.com.au