QLD Hype Moreton Bay Shire Qld

Deception Bay is part if MBRC.

 

I bought my DB property 2 years ago. Indicative growth is 5.9% in two years based on the onthehouse estimates. It settled 3 weeks before the new Planning Scheme was ratified.

The 600sqm sites in the Urban Neighbourhood or Next Generation Neighbourhood zones are the better properties as these have development potential without consolidation. These will typically have a 15m frontage. My 600sqm site can accomodate a 21m high low-rise ( at a guess 12 units ) or 4 or 5 townhouses.

The smaller lots only have 10m frontage and these aren't wide enough to do a multi-dwelling or townhouses, unless you can grab a corner site.

Edit - anyone interested in buying for the above zoning should read the planning codes or get a planning assessment done. Also be aware that infrastructure contributions are high ( $22k for 1 or 2 bedders, $28k for 3-bedders ).

 

I know.. i'm saying it reminds me of the area. Loads of potential in North lakes. I do feel stockland screwed up allowing too many rental homes there though to start with

 

Price points vs return now make it less attractive for investors but FHB like it...

 

Developer incentives for infill development will be active through to 2019. They are targeting 20+ Unit multi-dwelling development along the Redcliffe train line ( Cabulture and Strathpine are other areas targetted ).

Limit on incentives is $10M.

Expect increased competition in the area from developers trying to secure sites.

Incentivising infill development

 

What does this mean for people holding these sites? (Me)
I don't want to sell but I'm not at the point where I'm ready to develop.
Just land bank?

 

Wombat, what does the above mean? I am not familiar with this. Can you please enlighten?

 

I don't think you would have much negotiation power unless they want to combine sites and yours is one they really want. The area hasn't had the significant growth yet that would warrant developers paying much above market value. The margins on end-values are too low.

Developers will have already been land-banking/securing sites possibly via options.

Agree. Just land-bank.

 

Council are prioritizing development of medium-high density in certain areas by significantly reducing infrastructure contributions ( possibly up to $22k or $28k per dwelling saving if council waive the significant development fees ). Assuming a multi-dwelling with 20 two bedders, the developer may save up to 19x $22k ( $418k ).

That would increase their profit margin and make projects more viable.

For you, it just means that if you are trying to buy in the priority areas you will face buyer competition from developers securing sites. They will have deeper pockets for paying above market value.

 

Thanks for the explanation

 

I know someone who just bought a new PPOR within MBRC.....so ssshhh... Please stop hyping the area.... Actually can we please delete this thread? MBRC is now full... closed to new residents. Sorry.

 

No it's not!

PD News - Release of Land Supply Studies - New Flash August 2017

https://www.moretonbay.qld.gov.au/u...esidential-land-supply-assessment-project.pdf

 

I received the below e-mail from MBRC. An update to the new planning scheme will be released on Monday for consultation.

I've marked some key things in red.

'The Mill' Priority Development Area near covering the area for the proposed Uni also becomes active.

Proposed Major Scheme Amendment - Consultation to commence Monday
Following approval from the Deputy Premier, the Honourable Jackie Trad MP, Council is pleased to be able to release for formal consultation the first proposed major amendment to the planning scheme. Consultation will commence Monday 21 August and conclude Friday 6 October 2017.

Since the commencement of the first region-wide planning scheme on 1 February 2016, Council has been working on its first major amendment to its planning scheme to ensure it remains a living document that supports growth and maintains the region's unique characteristics.

Some of the key proposed changes include:

• Including "Caboolture West - Area 1" as a structure-planned area; Including the Warner Investigation Area into the Emerging community zone and as a structure-planned area;

• Amending the Overlay map - Road hierarchy to show proposed future road connections (e.g. Greensill Road, Albany Creek and Narangba East);

• Supporting some non-residential uses within walking distance of train stations (including Redcliffe Peninsula line rail stations); and

• Including a range of amendments relating to dwelling houses and domestic outbuildings (sheds and carports) such as site cover and setback requirements.

During the public consultation period, any person can view and download an amended version of the planning scheme (with the proposed amendments clearly identified) via council's website or view and purchase a copy at one of council's customer service centres located in Strathpine, Redcliffe and Caboolture.

Council encourages you to find out what the proposed amendment to the planning scheme means for your property and to take part in the community consultation period.

The proposed amendments can be viewed from Monday by visiting yoursay.moretonbay.qld.gov.au

Commencement of The Mill at Moreton Bay PDA Development Scheme
Moreton Bay Regional Council is pleased to announce that the Queensland Government has adopted The Mill at Moreton Bay Priority Development Area (PDA) Development Scheme which takes effect from today 18 August 2017.

Since the declaration of the PDA on 2 September 2016 by the Deputy Premier, the Honourable Jackie Trad MP, Council has worked closely with Economic Development Queensland in the preparation of the scheme.

The Development Scheme will now transform the area into a vibrant urban community, with the new University of Sunshine Coast Moreton Bay campus at its core. The precinct will also drive significant economic, environmental and community outcomes for residents, businesses and visitors alike to visit, enjoy and be proud of.

Council has led two rounds of community consultation which has been invaluable into the preparation of the draft and now finalisation of the development scheme.

The PDA Submissions Report, which summarises the submissions received during the public notification period, can be found on the Council and Economic Development Queensland websites.

To view the Development Scheme and for further information, please visit Council's website.

 

What do you all think will happen to prices of freestanding homes close to the PDA? - e.g. the low density suburbia close to, but not within the PDA.

 

It will take time but gentrification of the suburb will occur which will help kick up prices.

Improved amenity in the suburb. More shops and cafes. Larger populations of people because of students and also more busy during the day. Given it a good 10 years but I think there will be dramatic change within 6-7 years.

From the zoning map you can see that there are 21m building heights for the area of the current Petrie town centre.



One of the concept images:



Another zoning map. Areas zoned "District Centre" can go up to 21m.




Edit - more pics in this thread QLD - Petrie - University / The Mill Priority Development Area

 

Not sure if this has been mentioned anywhere, but I came across an article about a company called Villa World that has purchased 54 acres in Strathpine and plans to build 380 house and land lots.

http://www.villaworld.com.au/sites/default/files/ASX_Announcements/ASX Announcement - Strathpine.pdf

Has anyone heard of this and what do you think this will do for Strathpine and the area in general ?

Incidentally, for those that know the Strathpine area the development will be on Grahams Rd.

 

Current median for strathpine is $390k.

Logically you would think it will help to lift the suburb median. The land lots are priced at $460k so house build say minimum $300k to $400k on top of that. House prices in the $760k to $860k range.

 

sorry what ?

$860k in Strathpine.
That area does not have incomes to support those prices.

i think Re read the announcement.

 

wt ...

 

@wombat777, those figures don't sound right. Maybe it's $460K including the house ?