MacroPlan Dimasi’s national team actively monitor property development trends. For this edition of e-news, we look at the South-East Queensland market, specifically tracking ‘multiple dwelling’ applications in Brisbane City.
Multiple dwellings under the Brisbane City Plan 2014 include apartments, flats, units, townhouses and row housing, but exclude duplexes. Interestingly, the supply pipeline of apartments (multiple dwellings) in Brisbane has been the subject of numerous articles over the past financial year – particularly in the inner-city. In this snapshot, we look at the market from a different perspective by considering the volume of applications submitted to council for approval. The spatial distribution of applications provides valuable insight as to where sites are being identified for development, even if those sites are for small-medium size developments, as land in Brisbane is increasingly scarce.
The map below highlights these multiple dwelling ‘hot spots’ for the past 11 months. In the current financial year-to-date Nundah is leading the way followed by the inner-city areas of South Brisbane and West End, however a majority of applications have occurred in the middle-ring, approximately 5-8km from Brisbane CBD. There are a number of reasons for this including supportive zoning around major activity centres such as Chermside and Garden City, as well as a greater availability of sites for development. This middle-ring trend extends over several years, including a large spike in June 2014 prior to the commencement of Brisbane’s new planning scheme on 30 June 2014.
If you are interested in property analytics or site identification, ask us about our DA Tracker or call us to discuss on 07 3122 8166 today.