House and land packages soar in popularity as buyers seek more space

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Jun 28, 2018

House and land packages soar in popularity as buyers seek more space

Demand for house and land packages is peaking across the south-east as buyers look for larger blocks and bigger backyards, according to a recent report from Place Advisory.

Image supplied by Place Projects

Pictured: A house and land package from Place Projects at 524 Musgrave Rd, Coopers Plains
Supplied by Place Projects

Pictured: Bruce Goddard, Director of Place Projects
Image supplied by Place Projects

Pictured: Lachlan Walker, Director of Place Projects and Place Advisory

New research from Place Advisory shows there has been a 5.1 per cent increase in new house and land sales over the last 5 years

Director of Place Projects Bruce Goddard said that for some buyers, more land is a top priority.

“Many buyers prefer to move a little further from the inner Brisbane area to get affordable land and have a backyard for the family,” Goddard said.

The data also shows Brisbane’s outer ring is not only the most popular, with 836 new sales recorded in the six months to March 2018, but also the most affordable with the median price for a new build just $605,000.

Goddard said the popularity of new sales in that area reflects not only the lower price tag, but also the desire for more space.

Pictured: A house and land package at 524 Musgrave Rd, Coopers Plains. Image supplied by Place Projects.

“Buyers want space to stretch their legs and grow. Many are looking to start, or grow their family, and are looking forward to the future," he told WILLIAMS MEDIA.

Lachlan Walker, Director of Place Advisory and Place Projects, told WILLIAMS MEDIA people are willing to give up on the benefits of an inner city lifestyle for the extra space house and land packages provide.

Goddard said the infrastructure in the outer rings is constantly improving as demand grows – with better roads and public transport access, more schools and facilities.

“The infrastructure will only continue to improve as more and more people call these outer suburbs home – which in turn will attract more buyers,” he said.

Heading closer to the city, there were fewer ‘new home’ sales (506) with a median price tag of $752,500.

Pictured: A house and land package at 524 Musgrave Rd, Coopers Plains. Image supplied by Place Projects.

As expected, the inner ring is the most expensive for new houses – the median price there is $895,000 – also making it the least popular choice – with just 281 sales.

Goddard said there will always be demand for new builds as population, particularly in Queensland, grows. New builds will remain the first preference for many buyers and investors alike.

“Just as people love new cars, there is nothing like a brand new home with all appliances and fittings with full warranty, no maintenance issues and nothing more to spend," he said.