Study reveals 3250 people to move to coast in next 5 years
An estimated 3250 people are predicted to move to Yeppoon and Emu Park over the next five years, requiring 330 dwellings per year, according to the Housing Demand Analysis recently released.
Livingstone Shire Council engaged Matusik Property Insight's analyst Michael Matusik and Broad Property Research and Advisory's managing director Paul Broad in November to conduct a study where Livingstone Shire's housing market was in the property cycle and what was needed to meet demand.
The findings were presented at a public Town Hall meeting last week and Mr Matusik was met with a series of questions from the crowd.
Mr Matsuik spoke about the spike the region had seen in the last year with many city dwellers moving during COVID, to escape their lockdowns and restrictions and work from home.
He noted there was a chance if life went back to normal and if COVID disappeared, those people could become bored of the regional life and move back to the cities.
The Federal Government HomeBuilder COVID-19 financial subsidy and Queensland's first home buyer bonuses are also bringing demand.
Mr Matsuik also said if international travel opened back up, a lot of people could move back overseas.
The analysis covered the Livingstone Shire, which spreads across 11,776 sqm of Central Queensland with a population of 38,000 people.
It was noted more than half of the population lives on the Capricorn Coast and most of the population works in Rockhampton, making the Capricorn Coast a lifestyle suburb.
The report revealed Livingstone Shire's housing market was in the recovery phase of the property market and there was not enough approved product available to develop, leaving the housing market undersupplied.
This had in turn created rising house prices and escalating rents.
The report states over the next five years there is a need to build 330 new dwellings per annum.
The report research states some 1320 dwellings are expected to be ready for development over the next five years, of which 500 are anticipated to be medium density dwellings.
It was also states around 600 detached houses are sold across the shire each year, there are 250 vacant land sales, and 100 attached dwelling sales per year.
It is estimated there will be 650 new residents per annum over the next five years and they are expected to come from the local area and Queensland.
The study revealed the people looking to move to the Livingstone Shire were the empty nesters downsizing or retiring, plus people in retirement/aged care facilities and also younger renters.
This meant a range of housing products would be needed, most between a small apartment in a large complex and the traditional detached home.
The report states considerable effort will be needed to diversify the shire's housing mix and it might take an outside developer or builder to start the ball rolling.
The shire has 200 commercial storage sheds across five operations who have all reported 100 per cent occupancy - one of which has been at full capacity for the last 10 to 12 years.
Secure storage is very much a major factor as residents will be looking for somewhere to park their boats, caravans, jetskis and large SUVs within the estate, which could be in the form of separate facilities or offsite storage.
Matusik's Livingstone Shire forecast housing demand type by dwelling type
Traditional detached houses: 30 homes/ nine per cent
Small lot homes: 70 homes/ 21 per cent
Dual occupancy or backyard housing: 75 homes/ 23 per cent
Townhouses, terrace or villas: 60 homes/ 18 per cent
Small scale, infill apartment projects: 45 homes/ 14 per cent
Large apartment complexes: 10 homes/ three per cent
Age-related care: 40 homes/ 12 per cent