Love where you live?
So do people living in Greenbank, Rochedale South, Waterford and Woodridge, according to statistics which show those suburbs to be the “stickiest” – the ones where people already live and want to stay.
The Urban Development Institute of Australia’s (UDIA) Home Purchaser Sentiment Survey – conducted for the first time in partnership with Urbis in May this year – has found that 64% of first homebuyers in Greater Brisbane think property prices will increase over the next six months.
The survey has highlighted the “missing middle” of Australia’s housing stock, finding that medium density housing is most appealing to 65–74-year-olds.
Yet, the issue remains that the lack of supply is preventing them from downsizing their family homes and freeing up real estate for the next generation.
UDIA Queensland chief executive officer Kirsty Chessher-Brown said it was no surprise that older residents favoured medium density housing.
“From our qualitative research we know that older residents want to stay in their suburbs, where they have social networks,” Ms Chessher-Brown said.
“Unfortunately, we are just not seeing the delivery of true housing choice across our established suburbs in Queensland.
“This buyer group is a key market for infill housing in established areas, which is heavily undersupplied due to land fragmentation and council planning scheme controls.”
No Logan suburbs made greater Brisbane’s top 10 list of places people want to buy. Most were inner-city or seaside locations.
“There’s no doubt Covid has forced most people to re-assess their priorities and how they want to spend their downtime or the amenities they can access if they are working from home more,” Ms Chessher-Brown said.
Urbis director Paul Riga said in all capital cities the majority of residents believed property prices will
be higher in the next 12 months.
“Positive sentiment toward buying property was lowest in (greater) Brisbane of all the capital cities surveyed, but this is not necessarily a negative and more than likely the result of historically having a more stable market than the others,” Mr Riga said.
Other key findings from the survey included:
• Detached homes are the most desired type and the most popular with those aged between 35-44 years.
• In terms of new housing, a freestanding home was the most desired type (75%) followed by apartments (12%).
• In terms of household structure, single person households had the most interest in medium density options.