Brisbane City Council has voted to amend the city plan to stop townhouses and apartments being built in areas for single homes.
The move comes in an effort to “protect Brisbane’s backyard and unique character” in accordance with the recently released ‘Brisbane Future Blueprint,’ which contains 8 guiding principles for the planning of the city.
Industry experts are predicting that this restriction of housing supply could drive up Brisbane property prices in the short to medium term.
“With the restriction of new housing supply, we do expect additional pressure on Brisbane property prices – which is good news for our Brisbane investors today, however it will affect affordability in the future,” said Ironfish Brisbane General Manager, Irene Liu.
University of Queensland Urban Planning expert Dr Dorina Pojani agrees. In an interview with the ABC, Dr Pojani said that restricting the type of housing in certain neighbourhoods would actually drive prices “through the roof.”
Better community outcomes
Brisbane City Council voted in the proposed amendment to its city plan last month. The changes to the ‘Brisbane City Plan 2014’ will remove the current provision that enables townhouses and apartments to be developed on low density residential zoned land on sites of more than 3000 square metres.
The proposed amendment is designed to address a key action from ‘Brisbane’s Future Blueprint’ which was formed by the $2.1 million Plan Your Brisbane survey. This survey invited 100,000 residents or 1 in 5 households to help plan the city’s future.
“Although the proposed amendment will mean less supply in some areas, it also means better city planning in alignment with what residents want and therefore, ultimately, better outcomes for the local community,” added Ms Liu.
Brisbane City Council’s planning change proposal is now with the Queensland State Government for approval.
Ironfish Brisbane property investment
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