Cottee Parker Architects was proud to sponsor the UDIA Queensland’s REA Housing market forecast event in May.

Presented by REA Group’s Cameron Kusher with insights from Bluebird Property’s Claire O’Rourke and Ray White’s Mark Creevey, the 2022 Housing Market Forecast was a comprehensive data analysis of the housing market over the past 2 years.

Our key takeaways from key trends in the Queensland housing market included:

There has been unprecedented growth in housing markets in South East Queensland and, in particular, on the Gold and Sunshine Coasts, with those markets still showing growth but not at the same rates as last year.

The rental market across South East Queensland is in crisis due to a decline in investors purchasing properties to rent out, a more lucrative short term / Airbnb market, an under supply of rental properties as people are buying second homes (especially on the coasts) as well as escalating rental prices.

With the gap between house prices and apartment prices at an all-time high, the apartment market is the only affordable option for many. This is good news for Multi-Residential apartment developments and also for Build to Rent projects.

Whilst the market is hot, the biggest challenge right now is the escalation of construction materials, which averaged around 15.8% last year, making new projects difficult to stack up. A key to feasibility and completion of projects will be early contractor engagement. However, with Brisbane forecast to have one of the highest price growths again this year of 8 to 11% and the Olympics less than 10 years away, the outlook long term for Brisbane developments is very positive.