ULDA to ease Moranbah affordability
LAND availability in and around Moranbah is a key issue the Urban Land Development Authority plans to address in the town’s proposed development scheme, released this week.
ULDA chief executive Paul Eagles said mining and mineral development leases to the north, east and south of the town, and flooding and vegetation to the south-west meant Moranbah was experiencing “considerable land use constraints affecting the ability of the town to expand beyond its current footprint”.
“The availability of land supply (in Moranbah) is a key factor contributing to upward pressure on housing affordability,” Mr Eagles said.
“The role of the ULDA in Moranbah is to improve the supply of residential land within the town boundary and provide a greater range of housing types to meet the changing needs of the local community.
“The development scheme has a strong focus on encouraging good quality higher density infill development on the land within the town boundary and also provides for a large future growth area south of Grosvenor Creek.”
With rental prices ever increasing, Moranbah has become an investor’s dream, recently scoring a place in the Australian Property Investor magazine’s Top 40 suburbs with the nation’s best rental returns, along with the towns of Blackwater and Dysart.
“I would say easily that about 90% of buyers in Moranbah are investors,” LJ Hooker Moranbah sales partner Craig Aitcheson said.
Mr Eagles said the ULDA would address housing affordability by working with a number of key stakeholders such as traditional owners, the Department of Environment and Resource Management and private enterprise to improve land supply so houses were available as soon as possible.
“It is expected that through the increased availability of land and expedited development process that housing will become more affordable in Moranbah,” he said.
“I would say easily that about 90% of buyers in Moranbah are investors.”
LJ Hooker Moranbah sales partner Craig Aitcheson