SEQ Land Report 2022

Commercial Research

SEQ VACANT LAND 2020/21 Financial Year Report January 2022

1

SEQ Local Government Authority Boundaries

2

TOOWOOMBA REGIONAL

SUNSHINE COAST REGIONAL

IPSWICH CITY

GOLD COAST

SOMERSET REGIONAL

MORETON BAY REGIONAL

LOGAN CITY

SCENIC RIM REGIONAL

LOCKYER VALLEY REGIONAL

BRISBANE CITY

REDLAND CITY

WELCOME TO THE SEQ VACANT LAND MARKET REPORT. Ray White Special Projects (QLD) is pleased to release the SEQ Vacant Land Market Report for the 2020/21 financial year. This report provides an in-depth look at the South East Queensland residential land market, and has been developed in order to monitor the performance of the financial year in comparison against previous years for each of the ten local authorities that make up SEQ. This report has been collated with data being sourced from the Queensland Government Statisticians Office. It has been compiled by Ray White Special Projects (QLD), who have over 30 consecutive years’ experience in the South East Queensland Land Market.

Contents Market Summary

4

SEQ key indicators

6

Key market indicators

8

Brisbane

10

Gold Coast

12

Ipswich

14

Logan City

16

Moreton Bay

18

Redland City

20

Sunshine Coast

22

Toowoomba

24

Lockyer Valley

26

Scenic Rim

28 3

MARKET SUMMARY The 2020/2021 financial year witnessed a hive of consumer activity in the vacant land market, reflected through a record high result of lot sale volumes which eclipsed the previous recent high set in 2016/2017.

This increase in volumes was driven initially by the implementation of government stimulus in response to COVID-19 – in particular the Home Builder Grant, further coupled with record low interest rate conditions, strong interstate migration into SEQ and a major increase in interstate buyer activity in the SEQ property market (and SEQ’s relative affordability).

The Ray White Special Projects Land Report Data captures all urban lot sales (lots less than 2,500 sqm) for the 2020/2021 financial year. The data demonstrated a 45.68% increase in lot sales from the corresponding financial year. Sales volumes increases were particularly notable in the corridors which had the availability of supply to service the sharp rise in consumer demand, including: • Logan LGA:

108.53% increase in yoy vacant land settlements

• Ipswich LGA: 55.66% increase in yoy vacant land settlements • Moreton LGA: 55.55% increase in yoy vacant land settlements Following this period as land supply began to fail to keep up with consumer demand, the market has seen a substantial uptick in land pricing which will be witnessed through the 2021-2022 land market data set.

The data further demonstrated the rate on a $/sqm for land dropped marginally by -2.34% for the 12 months. We expect this is a result of most land developers focussing on managing lot delivery to meet demand, as opposed to an immediate increase in lot pricing.

SEQ further saw an increase in Lot Approvals of 13.35%, a likely result of the major uptake of supply in a short period requiring developers to bring forward future supply pipelines to ensure future demand can be catered for.

The top performers in price growth were three LGA’s which had existing constrained land supply and hence saw sharp reactive price growth: • Gold Coast LGA:

7.64% yoy increase in median lot price

• Redland LGA:

6.69% yoy increase in median lot price

• Sunshine Coast LGA: 5.44% yoy increase in median lot price Overall, the data represents a landmark 12 month period for South East Queensland, particularly with consideration to lot sale volumes.

We anticipate the following 12 month period to reflect a substantial increase in lot sale prices as a result of this diminished supply and ever strong consumer demand both locally and from interstate.

Continued downward pressure on future supply for the majority of LGA’s appears to be the key trend shaping the land market at present.

This downward supply trend has had substantial influence on the very strong competition and premium sale results witnessed for development sites throughout SEQ which are offered to the market particularly those sites with scale, a clear planning pathway, access to essential infrastructure and offer security of forward pipeline.

SEQ key indicators

13,324

Lots approved

12,000

Registered lots

13.35% in lot approvals

1st Sunshine Coast 3,783 lots 2

nd

Moreton Bay 2,127 lots Total Projects: 973

45.68% in lot sales 1st

Moreton Bay 2,957 lots

2nd Logan 2,786 lots

SEQ weighted average vacant land price $278,240

7.14% in lot registrations 1st Moreton Bay 2,621 lots 2nd Brisbane 2,454 lots

2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Government Statistician’s Office, Ray White, Pricefinder

6

-1.52%

14,622 Lots sold

Median vacant land price growth 1st Gold Coast: $310,000 2nd Redland: $351,000

-2.34% over the last 12 months

25.47%

7.64% 6.69%

3rd Sunshine Coast: $290,900

5.44%

Lot sales By region, financial year 16,000 14,000

Scenic Rim

12,000

Lockyer Valley Toowoomba

10,000

Sunshine Coast Redland City

8,000

Moreton Bay

6,000

Logan City Ipswich

4,000

Gold Coast

2,000

Brisbane 1

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Land values $/sqm By region, financial year $1,000 $900 $800

Brisbane Gold Coast Ipswich Logan City Moreton Bay Redland City Sunshine Coast Toowoomba Lockyer Valley Scenic Rim

$700 $600 $500 $400 $300 $200 $100

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$-

Lot registrations By region, financial year 18,000 16,000

Scenic Rim

14,000

Lockyer Valley

12,000

Toowoomba

10,000

Sunshine Coast

8,000

Redland City

6,000

Moreton Bay

4,000

Logan City Ipswich

2,000

Gold Coast 1

0

Source: Queensland Government Statistician’s Office, Ray White, Pricefinder

20

/2

Brisbane

20

20

19

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9 /1 18 20

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17

7 20

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Key market indicators – SEQ Key Increase of 5% or greater Decrease of 5% or greater Change of less than 5%

Lot sales SEQ by region - financial year Brisbane

Gold Coast

Ipswich

Logan City

Moreton Bay

Redland City

Sunshine Coast

2011/12

1,296

1,045

934

540

1,536

75

784

6,210

2012/13

1,393

896

1,072

488

1,445

101

1,056

6,451

2013/14

1,808

1,973

1,333

909

2,143

201

1,925

719

103

72

11,186

2014/15

1,700

2,441

1,648

1,052

2,136

247

2,283

881

103

77

12,568

2015/16

1,947

3,190

2,027

1,086

1,885

321

2,165

514

62

56

13,253

2016/17

2,022

2,531

2,442

1,423

2,516

451

2,317

618

83

50

14,453

2017/18

2,110

1,856

1,953

1,478

1,991

272

1,826

438

64

69

12,057

2018/19

1,529

1,143

971

1,066

1,459

280

1,036

213

43

33

7,773

2019/20

2,048

1,375

1,130

1,336

1,901

291

1,479

413

42

22

10,037

2020/21

2,269

1,286

1,759

2,786

2,957

359

2,214

768

130

94

14,622

Toowoomba

Lockyer Valley

Scenic Rim

Total

Vacant Land $/sqm SEQ by Region - financial Year

8

Brisbane

Gold Coast

Ipswich

Logan City

Moreton Bay

Redland City

Sunshine Coast

2011/12

$582

$466

$321

$375

$448

$363

$439

$451

2012/13

$631

$439

$370

$371

$462

$385

$466

$473

2013/14

$705

$481

$381

$394

$502

$446

$481

$208

$152

154

$479

2014/15

$784

$522

$403

$413

$521

$449

$541

$283

$158

135

$512

2015/16

$831

$580

$441

$451

$559

$485

$566

$225

$138

136

$560

2016/17

$873

$599

$448

$495

$574

$617

$597

$263

$194

171

$579

2017/18

$900

$647

$461

$529

$595

$698

$665

$226

$149

156

$621

2018/19

$909

$665

$485

$543

$631

$663

$663

$243

$167

180

$651

2019/20

$915

$672

$485

$529

$622

$667

$676

$296

$172

180

$654

2020/21

$897

$756

$500

$563

$694

$759

$714

$263

$153

201

$657

Source: Queensland Government Statistician’s Office, Ray White, Pricefinder.

Toowoomba

Lockyer Valley

Scenic Rim

Weighted Average

Median vacant land price SEQ by region - financial year Brisbane

Gold Coast

Ipswich

Logan City

Moreton Bay

Redland City

Sunshine Coast

2011/12

$295,000

$240,000

$179,000

$200,000

$205,000

$282,193

$240,000

$230,678

2012/13

$310,000

$235,000

$180,000

$205,000

$205,600

$285,559

$233,000

$233,665

2013/14

$340,000

$238,000

$181,000

$190,000

$214,900

$295,000

$235,500

$157,500

$100,000

$180,000

$233,143

2014/15

$362,000

$239,000

$185,000

$196,000

$225,000

$293,335

$249,000

$170,000

$100,000

$180,000

$239,125

2015/16

$375,000

$244,800

$196,800

$215,000

$249,900

$311,114

$257,000

$170,000

$123,000

$169,900

$254,682

2016/17

$388,000

$262,000

$195,000

$220,000

$255,900

$317,037

$259,000

$175,000

$135,000

$188,000

$259,641

2017/18

$407,700

$285,000

$195,000

$225,000

$255,000

$325,582

$271,400

$170,000

$125,000

$190,000

$272,871

2018/19

$409,000

$293,300

$200,000

$232,000

$255,000

$316,010

$280,000

$176,000

$126,000

$185,000

$283,254

2019/20

$405,000

$288,000

$205,000

$230,000

$265,000

$329,000

$275,900

$189,500

$134,000

$171,000

$284,904

$399,000

$310,000

$205,000

$230,000

$278,000

$351,000

$290,900

$180,000

$120,000

$182,000

$278,240

Toowoomba

Lockyer Valley

Scenic Rim

Total

Toowoomba

Lockyer Valley

Scenic Rim

Weighted Average

2020/21

Lot approvals SEQ by region - financial year Brisbane

Gold Coast

Ipswich

Logan City

Moreton Bay

Redland City

Sunshine Coast

2011/12

1,501

1,209

2,049

576

2,702

323

2,618

10,978

2012/13

1,979

947

1,921

1,725

1,610

312

728

9,222

2013/14

1,627

1,128

6,071

1,535

2,020

880

987

370

3

106

14,727

2014/15

2,380

1,693

2,838

2,856

2,158

512

3,158

858

308

58

16,819

2015/16

2,574

2,661

3,073

2,916

3,827

563

1,310

2,256

79

75

19,334

2016/17

2,678

2,166

3,214

4,976

5,867

723

2,894

234

74

324

23,150

2017/18

3,021

1,949

1,994

4,165

3,239

325

1,530

319

72

89

16,703

2018/19

2,664

556

2,456

1,600

1,924

461

2,282

439

326

244

12,952

2019/20

1,943

328

854

5,602

1,349

383

929

102

89

176

11,755

2020/21

1,528

946

1,830

1,584

2,127

787

3,783

340

265

134

13,324

Standard lot registrations SEQ by region - financial year Brisbane

GoldCoast

Ipswich

LoganCity

Moreton Bay

Redland City

Sunshine Coast

2011/12

2,165

1,110

863

712

1,773

382

536

7,541

2012/13

1,644

615

843

525

1,250

476

584

5,937

2013/14

1,978

1,391

994

706

1,963

605

1,224

651

69

110

9,691

2014/15

2,098

2,043

1,791

1,304

2,716

838

1,941

973

123

75

13,902

2015/16

2,781

2,898

2,412

1,167

2,051

911

2,128

517

171

71

15,107

2016/17

2,776

2,629

2,782

1,836

2,449

684

2,072

663

176

84

16,151

2017/18

2,652

2,570

2,180

1,976

2,876

494

1,793

524

137

94

15,296

2018/19

2,300

1,814

1,630

1,985

2,250

360

1,640

299

35

66

12,379

2019/20

2,492

1,158

1,244

1,927

2,089

422

1,414

305

109

40

11,200

2020/21

2,454

851

1,554

1,641

2,621

293

1,792

464

197

133

12,000

Source: Queensland Government Statistician’s Office, Ray White, Pricefinder

Toowoomba

Lockyer Valley

ScenicRim

Total

9

Brisbane City key indicators Median vacant land price $399,000

1,528 Lots approved

-1.48% -21.36% in lot approvals Total projects: 450

-1.96%

Closing stock

5,861 Lots -8.64%

2,269

Vacant land

10.79% in vacant land settlements 2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Governments Statistician’s office

10

Median vacant land price $897/m2 -1.97%

407m

2

is the median lot size

Lots registered

2,454

Standard lots

-1.52% in lots registered

Vacant land sales and median price Brisbane City 2,500

$450,000

2,000

$400,000

1,500

$350,000

1,000

$300,000

500

$250,000

2020/21 Lot Sales – 2,269 10.79% (2,048 sales) 12 months 13.70% (1,996 sales) 5 year average 25.21% (1,812 sales) 10 year average

2020/21 Median Value - $399,000 -1.48% (from $405,000) 12 months -

No. Sales

-0.68% (from $401,740) 5 year average

1

0

/2

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9

8.11% (from $369,070) 10 year average

20

19

20

20

20

18

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8 /1

7

17 20

16

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20

15

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$200,000

Median Price (RHS)

DA approvals Brisbane City 3,500

2020/21 Lot Approvals – 1,528

3,000

-21.36% (1,943 lots) 12 months

2,500

-35.44% (2,367 lots) 5 year average

2,000

-30.21% (2,190 lots) 10 year average

1,500 1,000 500

20

20

20

19

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17

20

20

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Lot registrations and lot size No. lots, Brisbane City

500

300

-

250

/2 20

Median Standard Lot Size (RHS)

Source: Queensland Government Statistician’s Office.

2020/21 Lot Registrations – 2,454 -1.52% (2,492 lots) 12 months -3.19% (2,535 lots) 5 year average 5.14% (2,334 lots) 10 year average

2020/21 Median Lot Size – 407sqm -0.25% (408sqm) 12 months

20

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15

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13 20

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Standard Lots

1

350

0

1,000

9

400

8

1,500

7

450

6

2,000

5

500

4

2,500

3

550

2

3,000

-1.97% (415qm) 5 years -6.65% (436sqm) 10 years

11

Gold Coast key indicators

946 Lots approved

Median vacant land price $310,000 7.64%

188.41% in lot approvals Total projects: 98

16.67%

Median vacant land price $756/m2

Closing stock

3,401 Lots -1.67%

1,286

Vacant land

-6.47% in vacant land settlements

12.50%

438m

2

is the median lot size

Lots registered

851

Standard lots

-26.51% in lots registered 2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Governments Statistician’s office

12

Vacant land sales and median price Gold Coast

$240,000

1,000

$220,000

500

$200,000

-

$180,000

-6.47% (1,375 sales) 12 months -21.50% (1,638 sales) 5 years average -27.49% (1,774 sales) 10 years average

2020/21 Median Value - $310,000 7.64% (from $288,000) 12 months

1 /2 20

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2020/21 Lot Sales – 1,286

7.77% (from $287,660) 5 years average

20

19

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20

18

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20

16

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15

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13

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No. Sales

0

1,500

9

$260,000

8

2,000

7

$280,000

6

2,500

5

$300,000

4

3,000

3

$320,000

2

3,500

17.64% (from $263,510) 10 years average

Median Land Value (RHS)

DA approvals Gold Coast 3,000

2020/21 Lot Approvals – 946

2,500

188.41% (328 lots) 12 months average 2,000

-20.44% (1,189 lots) 5 years average

1,500

-30.35% (1,358 lots) 10 years average

1,000 500

1 20

/2

0 /2 19

20

9 20

20

18

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8

20

17

/1

7 20

16

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Lot registrations and lot size No. lots, Gold Coast

1,500

400

-50.17% (1,708 lots) 10 year average

1,000

300

500

200

-

100

/2

/2

20 20

/1

19 20

18 20

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17

/1 16 20

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15

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Standard Lots

1

-52.84% (1,804 lots) 5 year average

0

500

9

2,000

8

-26.51% (1,158 lots) 12 months average

7

600

6

2,500

5

700

4

3,000

3

800

2

3,500

Median Standard Lot Size (RHS)

Source: Queensland Government Statistician’s Office.

2020/21 Lot Registrations – 851

2020/21 Median Lot Size – 438sqm 2.10% (429sqm) 12 months -1.26% (444sqm) 5 years -4.03% (456sqm) 10 years

13

Ipswich City key indicators

1,830 Lots approved

Median vacant land price $205,000 0.00% no change

114.29% in lot approvals Total projects: 42

-10.64%

Closing stock

12,867 Lots 3.66%

1,759

Vacant land

55.66% in vacant land settlements

Median vacant land price $500/m2 3.09%

420m

2

is the median lot size

Lots registered

1,554

Standard lots

24.92% in lots registered 2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Governments Statistician’s office

14

Vacant land sales and median price Ipswich City 2,500

$220,000

2,000

$200,000

2020/21 Lot Sales – 1,759 55.66% (1,130 sales) 12 months 6.54% (1,651 sales) 5 year average

1,500

$180,000

1,000

$160,000

500

$140,000

-

$120,000

15.20% (1,527 sales) 10 year average

2020/21 Median Value - $205,000

No. Sales

1 /2

0

2.50% (from $200,000) 5 year average

20

20

/2

9 20

19

/1

8 20

18

/1

7 20

17

/1

6 20

16

/1

5 20

15

/1

4 20

14

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3

13

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12 20

20

11

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2

0.00% (from $205,000) 12 months

6.67% (from $192,180) 10 year average

Median Land Value (RHS)

DA approvals Ipswich City 7,000

2020/21 Lot Approvals – 1,830

6,000

114.29% (854 lots) 12 months

5,000 4,000

-11.58% (2,070 lots) 5 year average

3,000

-30.42% (2,630 lots) 10 year average

2,000 1,000

1 20

20

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18

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17

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16

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Lot registrations and lot size No. lots, Ipswich City 2020/21 Lot Registrations – 1,554

500

-4.62% (1,629 lots) 10 year average

1,000

400

500

300

-

200

0.00% (420sqm) 12 months

1

Median Standard Lot Size (RHS)

Source: Queensland Government Statistician’s Office.

2020/21 Median Lot Size – 420sqm

/2 20 20

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16

20

20

/1

15 20

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13 20

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Standard Lots

0

1,500

9

-17.25% (1,878 lots) 5 year average

8

600

7

2,000

6

24.92% (1,244 lots) 12 months

5

700

4

2,500

3

800

2

3,000

-3.27% (434sqm) 5 years -8.12% (457sqm) 10 years

15

Logan City key indicators

1,584 Lots approved

Median vacant land price $230,000 0.00% no change

-71.72% in lot approvals Total projects: 81

-3.57%

Closing stock

12,128 Lots -6.96%

2,786

Vacant land

108.53% in vacant land settlements

Median vacant land price $563/m2 6.43%

406m

2

is the median lot size

Lots registered

1,641

Standard lots

-14.84% in lots registered 2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Governments Statistician’s office

16

Vacant land sales and median price Logan City 3,000

$260,000

2,500

$240,000

2,000

$220,000

1,500

$200,000

1,000

$180,000

500

$160,000

-

$140,000

2020/21 Lot Sales – 2,786 108.53% (1,336 sales) 12 months 72.21% (1,618 sales) 5 year average 129.04% (1,216 sales) 10 year average

2020/21 Median Value - $230,000

1 /2

0

1.14% (from $227,400) 5 year average

20

20

/2

9

19 20

20

18

/1

8 /1

7

17 20

16

/1

6 /1

No. Sales

20

15

/1

5 20

4

14

/1 20

13

/1

3 20

12 20

20

11

/1

2

0.00% (from $230,000) 12 months

7.33% (from $214,300) 10 year average

Median Land Value (RHS)

DA approvals Logan City 6,000

2020/21 Lot Approvals – 1,584

5,000

-71.72% (5,602 lots) 12 months

4,000

-55.82% (3,585 lots) 5 year average

3,000

-42.47% (2,754 lots) 10 year average

2,000 1,000

1 20

/2

0 20

20

19

/2

9 20

18

/1

8

20

17

/1

7 20

16

/1

6 15

/1

5 20

14

/1

4 20

20

13

/1

3 /1 12 20

20

11

/1

2

-

Lot registrations and lot size No. lots, Logan City 2020/21 Lot Registrations – 1,641

500

300

-

200

/2

Median Standard Lot Size (RHS)

Source: Queensland Government Statistician’s Office.

19.09% (1,378 lots) 10 year average

2020/21 Median Lot Size – 406sqm -4.25% (424sqm) 12 months

20 20

/2 19 20

/1 18 20

/1 17 20

/1 16 20

/1

/1

15 20

/1

14 20

13 20

/1 12 20

/1 11 20

Standard Lots

1

400

0

1,000

9

-12.39% (1,873 lots) 5 year average

8

500

7

1,500

6

-14.84% (1,927 lots) 12 months

5

600

4

2,000

3

700

2

2,500

-4.43% (425sqm) 5 years -15.13% (478sqm) 10 years

17

Moreton Bay key indicators Median vacant land price $278,000

2,127 Lots approved

4.91% 57.67% in lot approvals Total projects: 105

9.38%

Closing stock

9,502 Lots -5.66%

2,957

Vacant land

55.55% in vacant land settlements

Median vacant land price $694/m2 11.58%

404m

2

is the median lot size

Lots registered

2,621

Standard lots

25.47% in lots registered 2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Governments Statistician’s office

18

Vacant land sales and median price Moreton Bay LGA 3,500

$300,000

3,000

$280,000

2,500

$260,000

2,000

$240,000

1,500

$220,000

1,000

$200,000

500

$180,000

-

$160,000

2020/21 Lot Sales – 2,957 55.55% (1,901 sales) 12 months 36.59% (2,165 sales) 5 year average

1 /2

0

2020/21 Median Value - $278,000 4.91% (from $265,000) 12 months 6.20% (from $261,780) 5 year average

20

20

/2

9 20

19

/1

8 20

18

/1

7 /1

17

16

20

/1

6 20

15

/1

5 20

4 20

14

/1

3

13

/1 20

12 20

20

11

/1

2

48.08% (1,997 sales) 10 year average

15.39% (from $240,930) 10 year average No. Sales

Median Land Value (RHS)

DA approvals Moreton Bay LGA 7,000

2020/21 Lot Approvals – 2,127

6,000

57.67% (1,349 lots) 12 months

5,000

-26.69% (2,901 lots) 5 year average

4,000

-20.70% (2,682 lots) 10 year average

3,000 2,000 1,000

1

20

20

/2

0 20

19

/2

9 20

18

/1

8 17

/1

7 20

20

16

/1

6 /1 15

/1

5 20

4

14 20

13

/1

3 /1 20

12 20

20

11

/1

2

-

Lot registrations and lot size No. lots, Moreton Bay LGA

400

18.93% (2,204 lots) 10 year average

1,000

300

500

200

-

100

20 20

19 20

/1 18 20

/1

20

17

16 20

15 20

14 20

13 20

12 20

11 20

Standard Lots

/2 1

1,500

/2 0

6.67% (2,457 lots) 5 year average

9

500

8

2,000

/1 7

600

/1 6

2,500

/1 5

700

/1 4

3,000

/1 3

800

/1 2

3,500

Median Standard Lot Size (RHS)

Source: Queensland Government Statistician’s Office.

2020/21 Lot Registrations – 2,621 25.47% (2,089 lots) 12 months

2020/21 Median Lot Size – 404sqm 0.00% (404sqm) 12 months -1.56% (410sqm) 5 years -6.02% (430sqm) 10 years

19

Redland City key indicators

787 Lots approved

Median vacant land price $351,000 6.69%

105.48% in lot approvals Total projects: 80

29.03%

Median vacant land price $759/m2

Closing stock

1,682 Lots 44.50%

359 Vacant land 23.37% in vacant land settlements

13.79%

417m

2

is the median lot size

Lots registered

293

Standard lots

-30.57% in lots registered 2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Governments Statistician’s office, Ray White, Pricefinder

20

Vacant land sales and median price Redland City

$230,000

150

$210,000

100

$190,000

50

$170,000

-

$150,000

23.37% (291 sales) 12 months 8.59% (331 sales) 5 year average 38.18% (260 sales) 10 year average

2020/21 Median Value - $351,000 6.69% (from $329,000) 12 months

/2

7.10% (from $327,726) 5 year average

20

/2

2020/21 Lot Sales – 359

20

19

/1 20

18

/1 20

17

/1 16

20

/1 20

15

/1 20

14

/1 20

/1

13 20

/1

12 20

11 20

1

$250,000

200

0

250

9

$270,000

8

300

7

$290,000

6

$310,000

350

5

400

4

$330,000

3

$350,000

450

2

500

13.01% (from $310,583) 10 year average No. Sales

Median Land Value (RHS)

DA approvals Redland City 1,000

2020/21 Lot Approvals –787

900 800

105.48% (383 lots) 12 months

700

46.88% (536 lots) 5 year average

600 500

49.36% (527 lots) 10 year average

400 300 200 100

1 /2

0

20 20

20

19

/2

9 20

18

/1

8

20

17

/1

7 20

16

/1

6 20

20

15

/1 14

13 20

/1

5

4 /1

3 /1 12 20

20

11

/1

2

-

Lot registrations and lot size No. lots, Redland City

500

300

450

200

400

100

350

-

300

/2

2020/21 Lot Registration – 293 -30.57% (422 lots) 12 months -34.98% (451 lots) 5 year average -46.39% (547 lots) 10 year average

2020/21 Median Lot Size – 417sqm -2.11% (426sqm) 12 months

20 20

/2 19 20

/1 18 20

/1 17 20

/1 16 20

/1

/1

15 20

/1

14 20

13 20

/1 12 20

/1 11 20

Standard Lots

1

400

0

550

9

600

500

8

600

7

650

6

700

700

5

800

4

750

3

800

900

2

1,000

Median Standard Lot Size (RHS)

Source: Queensland Government Statistician’s Office, Ray White, Pricefinder.

-4.75% (438sqm) 5 years -18.27% (510sqm) 10 years

21

Sunshine Coast key indicators

3,783 Lots approved

Median vacant land price $290,900 5.44%

307.21% in lot approvals Total projects: 61

1.67%

Closing stock

6,415 Lots 33.67%

2,214

Vacant land

49.70% in vacant land settlements

Median vacant land price $714/m2 5.62%

432m

2

is the median lot size

Lots registered

1,792

Standard lots

26.73% in lots registered 2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Governments Statistician’s office

22

Vacant land sales and median price Sunshine Coast 2,500

$300,000

2,000

$280,000

1,500

$260,000

1,000

$240,000

500

$220,000

-

$200,000

2020/21 Lot Sales – 2,214 49.70% (1,479 sales) 12 months 24.77% (1,774 sales) 5 year average

1 /2

0

2020/21 Median Value - $290,900 5.44% (from $275,900) 12 months 5.61% (from $275,440) 5 year average

20

20

/2

9

19 20

20

18

/1

8 /1

7

17

/1 16

20

/1

6 20

15

/1

5 20

4 20

14

/1

3

13

/1 20

12 20

20

11

/1

2

29.59% (1,709 sales) 10 year average

12.24% (from $259,170) 10 year average No. Sales

Median Land Value (RHS)

DA approvals Sunshine Coast 4,000

2020/21 Lot Approvals – 3,783

3,500 3,000

-68.13% (2,482 lots) 12 months

2,500

-55.45% (1,776 lots) 5 year average

2,000

-55.49% (1,777 lots) 10 year average

1,500 1,000 500

1 20

/2

0 /2 19 20

20

9 20

18

/1

8

20

17

/1

7 20

16

/1

6 20

15

/1

5 /1

4

14 20

13

/1

3 /1 20

12 20

20

11

/1

2

-

Lot registrations and lot size No. lots, Sunshine Coast

450

500

350

-

250

/2

Median Standard Lot Size (RHS)

Source: Queensland Government Statistician’s Office.

87.10% (2,022 lots) 10 year average

2020/21 Median Lot Size – 432sqm 8.00% (400sqm) 12 months

20 20

/2 19 20

/1 18 20

/1 17

/1 16

20

20

/1

/1

15 20

/1

14 20

13 20

/1 12 20

/1 11 20

Standard Lots

1

1,000

0

65.56% (2,284 lots) 5 year average

9

550

8

1,500

7

307.21% (929 lots) 12 months

6

650

5

2,000

4

2020/21 Lot Registrations – 1,792

3

750

2

2,500

-4.68% (453sqm) 5 years -9.32% (475sqm) 10 years

23

Toowoomba key indicators

265 Lots approved

Median vacant land price $180,000 -5.01%

233.33% in lot approvals Total projects: 26

4.00%

Median vacant land price $263/m2

Closing stock

2,948 Lots -7.56%

768

Vacant land

85.96% in vacant land settlements

-11.15%

741m

2

is the median lot size

Lots registered

464

Standard lots

52.13% in lots registered 2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Governments Statistician’s office

24

Vacant land sales and median price Toowoomba LGA 2020/21 Lot Sales – 768

$170,000

56.73% (490 sales) 5 year average

600

$160,000

500

$150,000

400

$140,000

300

$130,000

200

$120,000

100

$110,000

0

$100,000

34.62% (571 sales) 7 year average

2020/21 Median Value - $180,000 -5.01% (from $189,500) 12 months

/2

1

1.07%(from $178,100) 5 year average 3.75% (from $173,500) 7 year average

20

20

/2 20

19

/1 20

18

/1 20

17

/1 20

16

/1 20

15

/1 14 20

/1 13 20

No. Sales

0

700

9

85.96% (413 sales) 12 months

8

$180,000

7

800

6

$190,000

5

$200,000

900

4

1,000

Median Land Value (RHS)

DA approvals Toowoomba LGA 2020/21 Lot Approvals – 265

2,500

233.33% (102 lots) 12 months

2,000

18.55% (287 lots) 5 year average 1,500

-44.69% (615 lots) 7 year average

1,000

500

1 20

20

/2

0 20

19

/2

9 20

18

/1

8 20

17

/1

7 20

16

/1

6 20

15

/1

5 /1 14 20

20

13

/1

4

-

Lot registrations and lot size No. lots, Toowoomba LGA 2020/21 Lot Registrations – 464

1,200

800

1,000

700

52.13% (305 lots) 12 months

800

600

2.88% (451 lots) 5 year average

600

500

-15.56% (550 lots) 7 year average

400

400

200

300

-

200

2020/21 Median Lot Size – 741sqm

Standard Lots

1

8.52% (683sqm) 5 years

20

20

/2

0 20

19

/2

9 20

18

/1

8 20

17

/1

7 20

16

/1

6 20

15

/1

5 /1 14 20

20

13

/1

4

33.51% (555sqm) 12 months

5.78% (701sqm) 7 years

Median Standard Lot Size (RHS)

Source: Queensland Government Statistician’s Office.

25

Lockyer Valley key indicators

265 Lots approved

Median vacant land price $120,000 -10.45%

197.75% in lot approvals Total projects: 16

23.08%

Median vacant land price $153/m2

Closing stock

1,838 Lots 4.31%

130

Vacant land

209.52% in vacant land settlements

-11.05%

649m

2

is the median lot size

Lots registered

197

Standard lots

80.73% in lots registered 2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Governments Statistician’s office

26

Vacant land sales and median price Lockyer Valley LGA

80

$110,000

65.08% (79 sales) 7 year average

60

$100,000

40

$90,000

20

$80,000

-10.45% (from $134,000) 12 months

0

$70,000

-6.25% (from $128,000) 5 year average

2020/21 Lot Sales – 130 209.52% (42 sales) 12 months

1

2020/21 Median Value - $120,000

/2 20

/2

-0.31% (from $120,375) 7 year average

20

20

19

/1 20

18

/1 20

17

/1 20

16

/1 20

15

/1 20

14

/1 13 20

No. Sales

0

79.56% (72 sales) 5 year average

9

$120,000

8

100

7

$130,000

6

120

5

$140,000

4

140

Median Land Value (RHS)

DA approvals Lockyer Valley LGA 350

2020/21 Lot Approvals – 265

300

197.75% (89 lots) 12 months

250

60.41% (165 lots) 5 year average

200

74.34% (152 lots) 7 year average

150 100 50

1 20

20

/2

0 20

19

/2

9 20

18

/1

8 20

17

/1

7 20

16

/1

6 20

15

/1

5 /1 14 20

20

13

/1

4

-

Lot registrations and lot size No. lots, Lockyer Valley LGA 250

850

200

750

150

650

100

550

50

450

-

350

2020/21 Lot Registrations – 197 80.73% (109 lots) 12 months 50.61% (131 lots) 5 year average

Standard Lots

Median Standard Lot Size (RHS)

Source: Queensland Government Statistician’s Office.

2020/21 Median Lot Size – 649sqm 3.84% (625sqm) 12 months

1 20

20

/2

0 20

19

/2

9 20

18

/1

8 20

17

/1

7 20

16

/1

6 20

15

/1

5 /1 14 20

20

13

/1

4

54.97% (127 lots) 7 year average

4.68% (620sqm) 5 years -5.86% (689 sqm) 7 years

27

Scenic Rim LGA key indicators

134 Lots approved

Median vacant land price $182,000 6.43%

-23.86% in lot approvals Total projects: 14

366.67%

Median vacant land price $201/m2

Closing stock

1,725 Lots -4.54%

94

Vacant land

327.27% in vacant land settlements

11.67%

690m

2 is the median lot size

Lots registered

133

Standard lots

232.50% in lots registered 2020/21 Financial year (% represents annual change from 2019/20) Source: Qld Governments Statistician’s office

28

Vacant land sales and median price Scenic Rim LGA

$160,000

50

$150,000

40

$140,000

30

$130,000

20

$120,000

10

$110,000

0

$100,000

/2

2020/21 Lot Sales – 94 327.27% (22 sales) 12 months 75.37% (54 sales) 5 year average 58.99% (59 sales) 7 year average

2020/21 Median Value - $182,000 6.43% (from $171,000) 12 months -0.66% (from $183,200) 5 year average

20

20

/2 19 20

/1 20

18

/1 20

17

/1 20

16

/1 20

15

/1 14 20

/1 13 20

No. Sales

1

60

0

$170,000

9

$180,000

70

8

80

7

$190,000

6

90

5

$200,000

4

100

0.70% (from $180,738) 7 year average

Median Land Value (RHS)

DA approvals Scenic Rim LGA 350

2020/21 Lot Approvals – 134

300

-23.86% (176 lots) 12 months

250

-30.71% (193 lots) 5 year average

200

-11.11% (151 lots) 7 year average

150 100 50

1 20

20

/2

0 20

19

/2

9 20

18

/1

8 20

17

/1

7 20

16

/1

6 20

15

/1

5 /1 14 20

20

13

/1

4

-

Lot registrations and lot size No. lots, Scenic Rim LGA 2020/21 Lot Registrations – 133

80

800

58.10% (84 lots) 7 year average

60

700

40

600

20

500

-

400

/2

2020/21 Median Lot Size – 690sqm -31.00% (1,000sqm) 12 months -19.49% (857sqm) 5 years

20

20

/2 19 20

/1 20

18

/1 17 20

/1 20

16

/1 15 20

/1 14 20

/1 13 20

Standard Lots

1

59.47% (83 lots) 5 year average

0

900

9

100

8

232.50% (40 lots) 12 months

7

1,000

6

120

5

1,100

4

140

-23.71% (905sqm) 7 years

Median Standard Lot Size (RHS)

Source: Queensland Government Statistician’s Office.

29

RESEARCH Vanessa Rader Head of Research vrader@raywhite.com T: +61 2 9262 3700 M: +61 432 652 115

RAY WHITE SPECIAL PROJECTS (QLD) Mark Creevey Director mark.creevey@raywhite.com M: +61 408 992 222 Tony Williams Director tony.williams@raywhite.com M: +61 411 822 544 Matthew Fritzsche Director matthew.f@raywhite.com M: +61 410 435 891 Andrew Burke Associate Director andrew.burke@raywhite.com M: +61 417 606 128 James Hanley Sales Executive james.hanley@raywhite.com M: +61 408 999 755 Timothy Chee Property Analyst timothy.chee@raywhite.com M: +61 481 867 539

The information provided in this report is in good faith and has been derived from sources deemed accurate. The reproduction of any information here with is strictly prohibited without the prior consent of Ray White Commercial. This is general information only and should not be considered a comprehensive statement on any matter and should not be relied upon as such. Neither Ray White Commercial nor any persons involved in the preparation of this report accepts liability for its contents. All forecasts and estimates are based on a set of assumptions, which may change.

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