New housing estates a boost to local economy

May 29, 2013 - PRLog -- With several new housing developments due to start in the Redlands this year, things are once again looking up for the local building industry.

Due to a limited supply of land in the Redlands over the past five years, housing construction has been slow,  forcing many tradespeople to look for work outside the area. But that's all about to change. Construction of over 140 new homes is set to begin at Ausbuild's Kinross Estate at Thornlands, generating a much-needed boost to the local economy.

During the building phase, the development will create jobs for local tradespeople, and   after residents move in, it will provide hundreds of new customers for local businesses. Everyone from big shopping centres, right down to small bric-a-brac stores, will reap the rewards.  

After a few slow years, there are good signs that the local property market is bouncing back. Due to the low interest rate environment, home loan affordability is now at 28.1 per cent as at December 2012, down from 30 per cent the previous quarter.  

While many people had stalled their buying decisions after the Global Financial Crisis, there is now strong evidence consumers are purchasing homes again. Auction clearance rates are higher. Sold signs are appearing in streets and there has been an increase in new housing starts.

Another key driver of our economy is population growth and the good news is Queensland is once again on an upward trend. According to State Government figures, the state's population has now reached over 4,639,600 after growing 85,960 or 1.9 per cent in June 20123 - that's higher than the national average.

After stalling in 2010 and 2011, migration to Queensland is now on the rise. According to BIS Shrapnel figures, it increased from 11,800 people in June 2012 and is expected to reach 17,000 by June 2013 and 27,000 by 2014.

It's vital that the Redlands snares itself a share of that population growth so our local economy continues to grow. With its bayside location, relaxed lifestyle and natural attractions, the Redlands is certainly an attractive place for new families to settle, but we must be able to provide houses to cater for an increase in demand.  

With our local population expected to grow from 140,000 to 182,000 by 2031, the only way we can meet the critical housing shortage is to build new homes. The current Redland City Council has already taken steps to reduce red tape. By fast-tracking civil works on approved developments, we can now deliver new homes to market faster.

With one and two-person households on the rise, we also need to make sure we're designing and building homes to suit the changing demographics. As an industry leader in innovative housing design, Ausbuild believes housing diversity in the Redlands is essential to cater to people's needs and lifestyles.

While many families want large homes, baby boomers may be seeking to downsize. First home buyers, on the other hand, are looking for affordability.

We must also balance our need for more housing with the Redlands' environment. With careful planning, it is possible to create residential communities that will not only be sensitive to the local environment, but enhance it.

Like our award-winning Eprapah development at Victoria Point, the new Kinross Estate will boast excellent green credentials. The 15 hectare site will be regenerated with 15,000 trees and an existing dam will be rehabilitated. The estate will also have five hectares of green space, a 3000sqm public park and over three kilometres of walking and cycling trails.

As a place to live and do business, the Redlands really has it all - a strong sense of community, an enviable bayside lifestyle and beautiful natural bushland - all just a 30 minute drive from the city. As the area continues to prosper and face the challenges of the future, Ausbuild is committed to playing its part in building a better Redlands. We are 25 years young this year and with the second generation now in senior management, we hope to be here for another 25 years, providing housing diversity and choice in the Redlands.

For more information visit http://ausbuild.com.au/

PR Contact:

Michelle cull

07 3395 0772