Developer welcomes positive housing forecasts

Developer welcomes positive housing forecasts

LYONS Residential, developer of Tannum Sands master-planned community, The Sands, has welcomed signs of continuing and increasing positive growth in the Gladstone housing market.

Lyons Residential senior development manager Oliver Kent said current trends for housing approvals were above historical levels and comparable with the previous two years’ higher levels.

“All of the indicators from current rate of sale to outlooks from property researchers including Matt Gross and Michael Matusik reveal that the forecast for the Gladstone market is very positive over the medium to long term,” Mr Oliver said.

“The Sands will require $120 million investment over the life of the project.

“That’s a significant commitment from Lyons Residential, however, we are very confident with the long-term prospects for the local property market.”

Mr Kent welcomed Gladstone Regional Council’s recent budget, which also reinforced his company’s optimism for the region’s growth, with $8.8 million in funding for projects based in and around the Tannum Sands area.

These included $3 million for sporting facilities, $2.2 million for the Boyne Island Water Treatment plant upgrade, $3.5 million for investigation and design of the Boyne Island second river crossing, and $100,000 for construction of a public amenity at Wyndham Park.

Mr Kent also welcomed encouraging comments from Gladstone City Council chief executive officer Stuart Randle, who said housing approvals had progressively set records over the past three years.

“The rate of approval reduced in about October last year and since that time has settled back at pre-LNG (2011) levels,” Mr Randle said.

“The outlook is positive from a construction point of view as pre-LNG levels of housing construction will be insufficient to satisfy the region’s long-term population growth forecasts.”

Mr Kent said a report by the Centre for Environmental Management at Central Queensland University last year found that the impacts of all confirmed projects in the region would see solid rental and sale prices increase over seven years or more.

This was in contrast to previous booms of just two to three years.

Recent research from property analyst Matt Gross from The National Property Research Co indicated that the scale of forecast population increase would provide demand for an additional 16,452 dwellings for the region within the next 20 years.

Share This Article