With land becoming scarce, what options do SE Queensland buyers have?

“There has been a huge increase in demand in general in South East Queensland since 2020 and the COVID crisis,” says Paul Ryan, economist, realestate.com.au.

“In particular, there was a big increase in demand for land across the country, spurred by HomeBuilder initially (in June 2020), as people were trying to lock in those subsidies. That led to land listings decreasing, as people are buying land faster than they can make more available.”

Ryan says the sunny, spacious Queensland lifestyle has been sought out by buyers from Melbourne and Sydney, with people wanting to move on from COVID-19 lockdowns and embrace their newfound freedom to work from anywhere.

In fact, more than 58,000 people moved to Queensland during the six months to March 2021, according to the ABS, which was almost double the decade average.

“So that means, A) houses have increased in price quite a lot, and B) there are fewer to buy than there were, which has made land more attractive again,” says Ryan.

Thinking outside the box

If greenfield land is harder to come by, an option for people already in South East Queensland is to knock down and rebuild on their existing block. Or, for newcomers, there is the potential to find an older home in a good location, clear the land and get designing.

“If building where new land is located becomes more challenging, an extensive renovation or a rebuild of your current property becomes more attractive,” says Ryan.

An upside of knocking down can be keeping in close proximity to existing amenities, employment, schools or friends and family.

“New land tends to be on the periphery of cities, but with knockdown rebuilds, you get all the benefits of a new house in terms of quality and layout, with the benefits of being close to services,” Ryan says.

Knock down potential

Luke Cini, sales manager, Brighton Homes in South East Queensland, says the number of people asking about doing a knockdown rebuild has exploded — and across a range of demographics.

“We’re seeing a huge increase in enquiries from younger people, not just people who have had two or three homes,” Cini says.

“We’re also getting enquiries from retirees who want to replace their old home with a brand new one.

“They don’t want to have to do maintenance for years, so a knockdown rebuild gives them the confidence of having warranties and insurances.”

While renovating is a path many homeowners looking for an upgrade take, Cini says it can lead to cost blow outs, unexpected delays and unforeseen limitations with the existing building.

In contrast, with a complete knockdown rebuild, any extra preparation work can be factored in before building begins, giving a clearer vision of cost.

Renovating also means working with the style and structure of the existing home, which may be more restrictive.

“No renovation is ever going to be equivalent to a new build — you really get what you want,” Cini says.

A fresh slate

Before setting out on a knockdown rebuild, Cini says he helps clients ‘reverse engineer’ the project.

This means working backwards from the ideal date from which they wish to be relaxing in their brand-new home and plotting out all of the steps to get there. These could include engaging with a demolisher, locking in a design, or applying to council for approvals.

When the practicalities are sorted, the really exciting part can take place, which is perfecting the design and ensuring it is exactly right for your living needs.