Residents can expect no significant changes once Yarrabilba trades hands as part of a $1.3 billion global deal, according to a doctor of city planning.
The masterplanned community, along with 11 others in Australia developed by multinational real estate company Lendlease, will be sold to Stockland and its Thailand-based partner Supalai.
The Australian Competition and Consumer Commission (ACCC) was initially concerned the takeover would reduce competition in some areas.
But Griffith University’s professor of urban management and planning, Paul Burton, said this was unlikely.
“There is already quite a bit going on not that far away,” he said.
“Out towards Jimboomba, Flagstone and places like that –Â those are similar kinds of developments.
“In this area, I don’t think it is going to be a big issue because you are just switching from one very big developer to another.”
He said a change of developer could result in “minor changes”, such as slowing the release of land parcels.
“They might do it in smaller bundles. Rather than releasing 100 lots, they might release 50,” Dr Burton said.
“They are not going to suddenly strip out all the parks, or the water courses or drainage – those are pretty much fixed.”
He said these things tend to happen anyway, regardless of changes to ownership.
“In broad terms, I don’t think it will make any difference at all,” he said.
“The masterplan for the whole of Yarrabilba was ammended and updated a couple of years ago in 2022, and I would be very surprised if Stockland attempted any major revision to that.”
If Stockland did want to make changes the the Yarrabilba masterplan, Mr Burton said the developer would need the approval of Economic Development Queensland.
This is because Yarrabilba is classed as a priority development area (PDA), a high-growth area of land planned and managed by the Queensland government.
Mr Burton said it was critical that infrastructure – such as roads, sewage, power and other shared essentials – “continued as planned”.
“We are getting close to the stage where they will be building a major town centre,” he said.
Mr Burton said that, in ten years time, there would be a much larger town centre in Yarrabilba towards the southern end of Tamborine Waterford Road.
“It won’t all be built overnight – the shops and all that kind of stuff goes in as the population reaches a level that will sustain it,” he said.
“That is the challenge – you have to wait for the population to be big enough.”
The ACC was also concerned the acquisition of Lendlease’s communities could “increase Stockland’s incentive to raise the price” of housing.
But Mr Burton said this was also unlikey.
“House prices do what house prices do, and I don’t think you could expect to see a jump or a significant fall because of this,” he said.
“There may be one, but it will be because of global factors, material prices or RBA bank rates.”
Ultimately, the ACC said it would not oppose the sale.
