Promoted by the South West Queensland Regional Organisation of Councils
South West Queensland is larger than the State of Victoria (based on area) and has a population of 24,000, spread out across a number of towns and villages. The region has a strong economy bolstered by a diversified agriculture industry and a booming resource sector. The region is well connected with six municipal airports, various national highways, rail and some of the fastest download speeds in regional Australia.
There has been considerable underinvestment in housing across the South West region over the last decade, resulting in a local market with high demand and a complete lack of stock. Residential vacancy rates across the region range from 0% to 1.7% over the last year, demonstrating a chronic lack of housing.1
Serviced residential land is plentiful and affordable, costing between $2,000 and $25,000 per block.
Table 1. Serviced Residential Lots
|
Local Government Area |
Number of Available Lots |
Number of Future Lots |
|
Balonne |
14 |
38 |
|
Bulloo |
44 |
0 |
|
Maranoa |
23 |
400 |
|
Murweh |
4 |
0 |
|
Paroo |
23 |
20 |
|
Quilpie |
26 |
66 |
|
Total |
134 |
524 |
Source: Regional Australia Institute (2021)
There is strong demand for housing across the region, stemming from local businesses expanding and seeking to hire additional staff as well as from a number of government agencies that require housing for their growing staff numbers. The Queensland Police Force, Department of Health, Department of Education and numerous local governments all have new staff requirements and need housing for them.
Mayor of Paroo Shire, Suzette Beresford said, “Council is looking for houses, the police force is looking for houses, the health services are also looking; we all need housing to support our growing workforce.”
A recent study has identified that there is demand for over 600 new residential dwellings in the region over the next three years.2 A variety of housing and various sizes are required, ranging from 1-2 bedroom units to 3-4 bedroom homes. The local governments alone require 42 new dwellings and have an additional 82 that require considerable renovation and/or complete redevelopment.
Figure 1. Residential Dwelling Demand, by Type (South West Queensland)
Source: Regional Australia Institute (2021)
Figure 2. Residential Dwelling Demand, by Type (South West Queensland)
Source: Regional Australia Institute (2021)
In the last 12 months, over $41 million has been invested across a range of infrastructure projects including transport, agriculture, tourism and telecommunications that will continue to support strong growth into the future.
Mayor Beresford said, “The region has invested significantly in infrastructure, and we have a great lifestyle to offer everyone.”
It is a great time to explore housing investment opportunities in South West Queensland.
For more information about South West Queensland visit www.swqroc.com.au.
