Buyers on Brisbane’s southside want houses, but the area is badly undersupplied

House prices in Brisbane’s southern suburbs are set to climb as buyers covet unattached dwellings over apartments.

An analysis of Domain search data showed that 33 per cent of potential buyers searched specifically for a house, followed by 10 per cent of buyers looking for both a house and new development (which includes houses and apartments).  

Only one per cent of potential buyers were looking for solely an apartment, but 40 per cent didn’t search for a particular housing type.

Local agents and builders say the numbers reflect trends they’ve seen, with buyers looking to find their own patch of Mount Gravatt or Sunnybank, two of the most popular suburbs south of the river. Carindale, Carina and Coorparoo were also among the more sought after. 

“I think I’d agree with those numbers,” Ray White Mount Gravatt principal Grant Boman said. “If you think about it logically, the new development being done is geared toward investors, first home buyers and that sort of thing. Not a lot is being done for owner occupier family homes.

“A lot of houses are being taken out of the market and replaced with multi-dwelling blocks.”

This has led to an undersupply of houses, as demand continues to increase.

“Anything geared toward families are strongly pursued,” Mr Boman said. “I think the southside offers everything a family wants.

“It’s got good schools, transport to the city and you’ve got universities.”

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Avision Development group director Calvin Ling is capitalising on the demand for family homes south of the river by buying homes, knocking them down or subdividing the blocks and then building new on the blocks.

He said it was difficult to find new builds for sale, particularly in areas like Sunnybank.

“If you look at the market now, there’s very few new properties for sale. If you look at Domain there’s probably only one up for sale right now,” he said.

While he was one of few developers targeting families in Mount Gravatt, Sunnybank and the surrounds, he said it was becoming difficult to find properties to develop in the tightly held area.

“It’s getting a bit harder, a lot of the new new owners once they get a property, they keep it for a long term investment,” Mr Ling said. “So it makes it a bit harder for people to get in to develop, subdivide, and build a brand new house.”

So what’s a family to do, if they want to buy into the middle- ring of suburbs south of the river?

Mr Boman said the best way to ensure your family gets a slice of the action is to be less picky about what you buy.

“If you’re thinking about a family house and want to be in certain catchments, you need to be less concerned about the house on the block. You need to act and grab it,” he said.  

“You’re not gonna hurt yourself if you buy a decent block at the moment, or going forward.”