The State Government has reviewed and updated its Broadhectare Study for the Gold Coast.
The 2019 study indicates that Gold Coast has a broadhectare land supply of 1,994 hectares and dwelling yield of 63,200 dwellings. This study identifies the location of land parcels over 2,500 square metres and provides an indicative timing of development. A dwelling yield, based on approvals and zoning constraints (provided by the council) for rural, standard, and higher density, is also provided.
The Institute identifies the following key findings from this study:
- Standard urban density residential broadhectare (between 3 and 20 dwellings /ha) – supply of 792 hectares with:
- 205 ha expected to be developed over the 0-2-year timeframe
- 200 ha expected to be developed over the 2-5 year timeframe
- 294 ha expected to be developed over the 5-10 year timeframe
- Higher density broadhectare (over 20 dwellings/ha) – supply of 501 hectares
- 92% of parcels (including rural residential sites) are under 10 hectares in size
- The average price paid for broadhectare land in the year to December 2018 was $1,160,000 per hectare
- 13,737 dwellings in multiple dwelling approvals were identified to December 2018
- The Gold Coast is expected to require between 97,619 and 173,856 dwellings to meet housing demand to 2041. Present broadhectare land resources (not sub 2,500 m2 lots) could supply 63,234 dwellings.
The Institute pays close attention to these reports and provided members expertise to advise Queensland Treasury on the development of the results.
The Broadhectare reports provide important mapping resources and development timing estimates. The Institute is also contributing to the Land Supply and Development Monitoring report to improve the government’s understanding of present development land supply.
