As Australia’s population hits 24million, a state government report suggests population growth in Redlands will slow to just 0.9 per cent a year over the next 25 years. That’s down from the current 1.2 per cent growth, which is fuelling the Redlands building boom. While a prediction is the Redlands population grows from a current 145,000 to 188,104 in 2041, it is the impact on new home construction and the jobs it creates that is of concern. The government figures point to a slow down in demand despite reported high demand for "affordable" housing.
Already apartments and units at South East Thornlands have sparked debate about whether higher-density living in Redlands is needed today or will be in demand for the next 25 years. What the state statistics also show is developers in Redland City will have about 18,000 less people than previously thought to build accommodation for over the next two decades.
That suggests there will be substantially less demand for detached houses and the demand for units cut by a third. Mayor Karen Williams said it was prudent to incorporate the data in the draft Redland City Plan. “The population forecast has been reduced by around 18,000 people and in turn will reduce the need for new dwellings by 6700 by 2041.” She said the best bit was a drop in demand for attached dwellings.
Mayoral candidate Greg Underwood said he was concerned the Redland City Plan did not account for 10,000 people at Toondah Harbour or a further 10,000 at Shoreline. “These gaps in the planning have ramifications for the draft City Plan and a business-as-usual approach is not acceptable.”
A study by town planning experts Urbis Group shows the market would not be delivering enough detached houses and too many units. It said demand for medium-density housing, or units, would be low and overwhelmed by the supply of units and townhouses. This type of accommodation typically attracts investors who provide rental stock. The Urbis report also found demand for detached houses, albeit on smaller lots, would meet supply. One unknown is federal Labor’s talk on limiting negative gearing to only new dwellings. This would be a major disincentive to investors looking for long-term capital gains.
It is still to be seen how many people will move to Redlands over the next 25 years. There is no doubt it is one of the most attractive parts of South East Queensland.
