Aerial images show amazing transformation of Queensland’s fastest growing regions

first_imgBEFORE: Aerial image of Upper Coomera taken in June 2017. Picture: Nearmap. BEFORE: Aerial image of Ormeau Hills taken in May 2010. Picture: Nearmap. AFTER: Aerial image of Mango Hill in June 2017. Picture: Nearmap.North Lakes also saw the highest number of house sales in the Brisbane region during the year to April 2017, with 445 houses changing hands, according to property data firm Corelogic.The median house price in the suburb is $475,000 and home values have grown more than 10 per cent in the past five years.Mr Matusik said he wasn’t surprised North Lakes was the fastest growing region in Queensland.“It’s simply that it’s a very large parcel of land,” he said. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE “The developer has a masterplanned estate which they make sure is run like a business. Every year they make sure there is enough supply to cater for the market.”More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agoMr Matusik said the suburb was appealing to many people because of the infrastructure it now had, such as a Westfield shopping centre, a train station, and the likes of Costco and Ikea.“It’s got those things that come with growth and further that growth.”The Gold Coast is also experiencing speedy growth, with Ormeau-Oxenford the eighth fastest growing region nationally with growth of 28.5 per cent between 2011 and 2016, according to the latest Census.This area includes the suburbs of Pimpama, Ormeau Hills and Upper Coomera, which is a hotspot for urban development. Aerial image of North Lakes taken in June 2017. Picture: Nearmap.AERIAL images of Queensland’s fastest growing suburbs show the amazing pace of urban sprawl on the fringes of Brisbane and the Gold Coast in just five years.The shots, from aerial imagery company Nearmap, show how green space and waste land has been engulfed by building in areas such as North Lakes and Ormeau-Oxenford.North Lakes is the fourth fastest growing region in the country, according to the latest data from the Australian Bureau of Statistics, expanding by nearly 40 per cent in five years.This area is about 28km from the Brisbane CBD and includes the suburbs of Mango Hill and Griffin.It’s made up mostly of newly developed housing and a big source of jobs is the North Lakes Business Park, which is being built in the area.The suburb’s population grew by 38.8 per cent from 51,568 to 71,560 people.The booming suburb on Brisbane’s northern fringe gained another 2216 residents in the 2016 financial year — bringing its population to 30,772, according to research by Michael Matusik, director of independent property advisory Matusik Property Insights. AFTER: Aerial image of Pimpama taken in June 2017. Picture: Nearmap.The population of Ormeau-Oxenford has grown 28.5 per cent from 94,056 to 120,883.Mr Matusik said Pimpama’s population was growing at a rate he didn’t believe was sustainable.“It’s a reflection of where land supply is on the Gold Coast at the moment and I think that will calm down,” he said.“But if the Gold Coast is going to continue expanding, those areas will become more like North Lakes in due course.” $5.5b surge in apartment pipeline Buyer pays millions in cash in ‘crazy’ deal Furnished flat less than $40,000 BEFORE: Aerial image of Pimpama taken in November 2011. Picture: Nearmap. BEFORE: Aerial image of Mango Hill taken in May 2011. Picture: Nearmap. AFTER: Aerial image of Ormeau Hills taken in June 2017. Picture: Nearmap.It comes as research released recently by the Australian Housing and Urban Research Institute and the Bankwest Curtin Economics Centre reveals increases in housing stock in Brisbane has been insufficient to match the city’s population growth.The report also found all capital cities are failing to provide enough affordable options to manage the country’s housing crisis.But it did find monthly unit approvals surged ahead in Brisbane between 2006 and 2014, which supports current apartment oversupply concerns. AFTER: Aerial image of Upper Coomera taken in June 2017. Picture: Nearmap.last_img read more