Southeast Queensland is on form with one of the strongest land markets in the country

Southeast Queensland has one of the strongest land markets in the country, with 11,344 blocks released to the market in 2015.

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SOUTHEAST Queensland has one of the strongest land markets in the country, with 11,344 blocks released to the market in 2015.

The new figures from the Urban Development Institute of Australia revealed that the high volume was behind only Melbourne, which had a record-breaking 19,774 lots released last year.

The UDIA’s eighth annual State of the Land Report showed a 4.8 per cent increase in lot production for southeast Queensland, following previous gains in 2013 and 2014.

Nationally, there was a record-breaking total of 55,656 new lots released last year, up 9.9 per cent from the previous year.

The report also revealed lot sizes were continuing to shrink.

In southeast Queensland blocks dropped under 500sq m for the first time – down 4.1 per cent to 488sq m.

All of the country’s five major markets now have average lot sizes below 500sq m with Perth serving up the smallest blocks, averaging 395sq m.

Developer QM Properties is selling waterfront blocks at Pacific Harbour, Bribie Island. The project was named by realestate.com.au as Australia’s most popular land development for 2015.

Despite the smaller blocks, lot prices also increased.

Southeast Queensland’s $255,750 average was up 4.5 per cent, continuing the upward trend since 2013.

This was slightly above Perth’s $252,875 price tag but a long way off the explosive Sydney market which saw a 29.7 per cent price growth to an average of $440,725.

Queensland projects took out eight of the realestate.com.au top 10 Australian land developments for 2015.

The list was topped by Pacific Harbour, Bribie Island, followed by Coomera Retreat and Gainsborough Greens.

Developer QM Properties had three projects in the top 10.

Buyers showed interest in acreage blocks on offer at Jimboomba Woods.

Sales manager Damien Ross said Pacific Harbour had attracted fishing and boating enthusiasts, downsizers and growing families while Coomera Retreat had been popular with Brisbane commuters looking to be close to the Gold Coast.

Jimboomba Woods, which placed sixth, offered acreage options.

“To have these communities in the top 10, including Pacific Harbour taking out the top spot, is very exciting for us,” Mr Ross said.

“It is clear that whether it be a waterfront development, traditional residential or acreage, buyers are still wanting to be a part of a great Australian community.”

UDIA Queensland CEO Marina Vit said a lack of infrastructure continued to hamper private sector investment, placing pressure on housing affordability.

“With recent strong demand, good land supplies, efficient approval, development and release is now critical to avoid further pressure on land prices,” Ms Vit said, noting that Queensland’s property and development industry had the country’s highest taxes and charges.

“The report illustrates that the taxation system needs reform to encourage the production of new housing stock and job creation,” Ms Vit said.