THE PROPERTY DEVELOPMENT REVIEW
Colliers Queensland Residential Development Sites Director Brendan Hogan said Land lease estates had become a key player in addressing the housing shortage and are becoming a valuable addition to larger master-planned communities. “We are seeing a huge amount of enquiry from this sector for development sites in Queensland. “This sector is booming due to the demand for affordable living options, particularly to accommodate Australia’s aging population, and sites are getting snapped up quickly,” Brendan Hogan said. Colliers Healthcare and Retirement Living National Director Chris O’Driscoll said there were a number of operators chasing existing assets and development sites across the eastern states for land lease communities. “The population is growing, but it is also changing. Over the next 25 years the number of older people aged 65 years or older will increase and the number of one person households will increase substantially from 23.4 per cent in 2021 to 40.5 per cent in 2046,” Chris O’Driscoll said. “These changes mean we need more residential options in the mix, to deliver diversified housing solutions, land lease communities are a great opportunity to fill the housing supply shortage gap. “Land lease communities deliver attractive returns as a significant number of younger retirees leave their homes and move into these communities as the demand for high quality, affordable housing solutions grow,” Chris O’Driscoll added. Queensland continues to be a hotspot for LLCs, particularly in the Gold Coast and Sunshine Coast regions due to its favorable climate and reputation as a retirement destination. And with the state’s over-50 population expected to grow by 40 per cent, there will be even more demand. There is a trend by operators seeking opportunities in the regions also. Colliers Residential Site Sales Executive Kristian Brymora said South East Queensland would require around 900,000 new homes for residents, with the delivery of new land supply lagging behind population growth. “This has resulted in a surge in demand for development opportunities, but with this demand not meeting the supply, alternatives like these land lease sites are receiving a significant amount of buyer interest with record enquiry. “The LLC sector has seen increased interest from institutional investors, attracted by the steady income streams and lower risks compared to other property classes,” Kristian Brymora said.
CHRIS O’DRISCOLL National Director, Transaction Services | Healthcare & Retirement Living
BRENDAN HOGAN Director, QLD Residential Development Site Sales
KRISTIAN BRYMORA Executive, QLD Residential Site Sales
February / March 2025 – 73
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