Redland Bay is a property hot spot as buyers dry up land supply

first_imgRedland Bay is hot property with demand threatening to outstrip supply on homesites.REDLAND BAY is in hot demand as developers struggle to keep up the supply of homesites as buyers hone in on value properties.With new homesites selling at an average of $545sq m, compared to similar offerings on the Redcliffe Peninsula of $839sq m plus, buyers are realising the value and jumping in before it’s too late.Colliers International residential analyst James Forrester has been tracking the sales performance of the region, 35km southeast of the Brisbane CBD.“In 2016, the Redland Bay and surrounds — Thornlands, Victoria Point and Mount Cotton — recorded 399 settled land sales at an average price of $305,324, with a typical lot being 560sq m in size,” he said. Kinross Rd, Thornlands by Ausbuild.“In the last two years the sales in this region have increased by 26 per cent with an average sale price increasing by 7 per cent to $305,324.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours ago“Nonetheless this is still some of the most affordable bayside living in Australia, this close to a capital city.”Colliers International associate director Daniel Hirst said currently there were only about 100 land lots remaining for sale in the region within a number of existing master planned communities.“The Redlands region is an ideally located residential corridor in southeast Queensland, thanks to the bayside lifestyle, its proximity to the Brisbane City, variety of shopping, sporting, schooling and leisure facilities, and access to main arterial roads and public transport,” Mr Hirst said. Villa World display village in Thornlands.“The more people realise the potential of what Redlands has to offer the more popular it will become, as it is still a relatively undeveloped and unknown region.“Further demand for housing will be spurred on by the proposed 42ha Weinam Creek Marina development which is designed to be the cultural hub of Redland Bay.”The new waterfront development will have open space, shops, restaurants and cafes, with it expected to bring not only tourism to the region, but employment opportunities as well.“With the increasing demand, now is the time to capitalise and buy land before the prices increase and the land shortage becomes a critical issue,” Mr Hirst said.Ausbuild have a stronghold in the Redlands market with four major land estates in Thornlands. Kinross and Altitude estates launched earlier this year, with prices starting from $265,000, while Esperance and Majestic have almost sold out.Villa World also has a number of projects on the bayside in Thornlands with Waterline down to its final two homesites and Affinity’s final release with just five lots left.last_img

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