Livingstone Shire’s 5 Year Housing Demand Study is key to addressing residential shortage issue

An acute lack of residential accommodation is being experienced within the Livingstone Shire, resulting in rising housing prices and escalating rents. 

Livingstone Shire Council Mayor, Andy Ireland, said the region is experiencing growth at a much faster rate than in previous years and while this has many positive economic benefits to the region, it also poses challenges around the availability and affordability of housing. 

“This is causing difficulties in several respects, increased migration to regions with more affordable housing options, families living with families, and the loss of potential new residents because we simply have no product to offer,” Mayor Ireland said. 

This issue has been escalated due to the Home Builder $25,000 construction scheme, COVID-19 flight to the regions, and over $6 billion dollars in major projects being delivered across Central Queensland. 

“To aid understanding of the dimensions of this issue and to foster an informed and assertive response, Council engaged Matusik Property Insights and Broad Property Research & Advisory Pty Ltd to evaluate market dynamics and provide recommendations about how to meet current and emerging residential demand. 

“The report identified a number of interesting findings that should reshape how we, as a community, look at the types of housing diversity we should be providing in the future. 

Mayor Ireland said current residential options are fairly limited, being comprised almost entirely of detached single family dwellings on large lots.  

“This doesn’t help the region’s appeal to those looking for products other than the standard suburban home, in particular when it comes to affordability and the desire to “downsize”.  

Over the next five years, there is need to build 330 new dwellings per annum.  

This new housing supply will need to appeal to empty nesters downsizing or retiring, plus people in retirement/age-care facilities and also young renters. 

“A range of housing products will be needed but much of this will fit between a small apartment in a large complex and the traditional detached home,” Mayor Ireland said. 

“By meeting this demand in the future, the community stands to develop a significant competitive edge when it comes to growth.”  

Livingstone Shire’s forecast housing demand by dwelling type, is shaped along these lines:  

Housing demand by dwelling distribution

“A united effort from developers, valuers, and financiers will be needed to successfully diversify Livingstone Shire’s future housing mix,” Mayor Ireland said. 

“The housing evaluation was one way we could ensure that we, as a Council and a community, are fully aligned with the needs and opportunities of the region.”