Property

Sluggish property market behind dwellings approvals fall

In Queensland 43% of existing medium-density homes are outside of Brisbane.
In Queensland 43% of existing medium-density homes are outside of Brisbane. Kevin Farmer

QUEENSLAND communities are being transformed by an increase in medium-density housing, but more slowly than the rest of the country.

The Bankwest Housing Density Report found 31 out of 37 local areas in the state had recorded an increase in the proportion of housing stock that was medium-density.

Across the state, 22% of homes are medium-density, while 31% of building approvals over the last five years were for medium-density housing.

The actual number of dwellings approved over the last five years has fallen, which the report attributed to a sluggish property market.

Bankwest Retail Chief Executive Vittoria Shortt said high property prices had made the Australian dream of a stand-alone house in the suburbs harder to achieve and changing demographics were contributing to the changing property landscape.

"People are increasingly choosing medium-density housing as a more affordable alternative," Ms Shortt said.

"The popularity of medium-density housing will likely be maintained as older Australians continue downsizing to more manageable self-contained units and first-time buyers look to medium-density dwellings as a cost-effective option," she said.

While the report found that during the past 12 months an astonishing 87% of all medium-density dwelling approvals across Australia were in capital cities, in Queensland 43% of existing medium-density homes are outside of Brisbane.

Outside of capital cities, areas with the highest proportion of medium-density housing approvals were predominantly found in tourist and mining areas, with the Gold Coast particularly standing out.

Nationally, the number of medium-density housing approvals has dropped by 6% compared to last year, however compared to five years ago the number of medium-density housing approvals has increased by 18%.

Topics:  bankwest, housing, property, suburbs



'It's an insult': Backpacker anger at tax rip off

HAPPIER DAYS: The owner of 1770 Castaways says the backpacker tax will keep tourists away from Australia.

"We do the jobs Australians don't want to do"

Gladstone hairdresser drops 60kg for big day

Bridie Immoos and Michael Ritchie wed at Agnes Water on September 24.

Bride sheds 60kg ahead of big wedding day.

WATCH: Gladstone police search for woman in CCTV footage

SNAPPED: The vehicle and the woman was also spotted at the Dingo service station where police will allege the woman stole some items.

Quick conversation leaves man without car.

Local Partners

Homer Simpson thanks Australia during Opera House visit

Homer Simpson visits the Sydney Opera House.

ANIMATION favourite gets attacked by seagulls in viral video.

Channel 9 orders second season of Doctor Doctor

Rodger Corser stars in the TV series Doctor Doctor.

RURAL medical drama finds a loyal following.

Katy Perry gets naked to encourage people to vote

Katy Perry in Funny Or Die sketch

Katy Perry has stripped naked for a comedy video

Jogging Tom Hanks crashes wedding in Central Park

Tom Hanks stopped for a selfie with this bride and groom

MOVIE REVIEW: Storks delivers family fun

A scene from the movie Storks.

ANIMATION can be hit or miss but when it hits, it hits hard.

Nick 'the snake' to call the shots on Survivor jury

Australian Survivor contestant Nick Iadanza.

LATEST evictee is out of the game but will still have a say.

$40million hotel, shops development project for Mackay

Mt Pleasant hotel and retirement accommodation, proposed at 194-202 Malcomson St.

$40m development to take Mackay to 'the next level'

'Flex muscles': Gladstone suburb drops $120K

BUYERS are scooping unprecedented deals by “flexing their muscles at the table”

Few bright lights for property after mining downturn

The Gladstone Regional Council wants associated LNG companies like Bechtel to be apart of the EIS housing accommodation strategy from the outset of the projects and not mid-way through.

Tannum Sands continues to write its own property success story

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

Market opens as Gladstone sellers drop prices to force sale

VENDORS are dropping the price on houses to force a sale.