5 Year Housing Demand Analysis (Livingstone Shire/Capricorn Coast)
Posted on February 3rd, 2021
The full Housing Demand Analysis report by Matusik will be released in due course. The following executive summary provides a general overview of the Livingstone Shire’s housing market.
Livingstone Shire’s housing market is in the recovery phase of the property cycle. It doesn’t have enough approved dwelling product readily available to develop and as a result the new housing market is undersupplied, resulting in rising housing prices and escalating rents.
Over the next five years there is a need to build 330 new dwellings per annum. This new housing supply will need to appeal to empty nesters downsizing or retiring, plus people in retirement/age-care facilities and also younger renters.
A range of housing products will be needed. Much of this new housing stock will fit between a small apartment in a large complex and the traditional detached home. The ‘missing middle’ as it is often labelled these days.
Our work suggests that this new dwelling will be shaped along these lines:
Given past local market trends, plus a variety of pertinent parameters outlined in the report, considerable effort will be needed to diversify Livingstone Shire’s future housing mix. It might take an outside developer or builder to start the ball rolling in this regard.