Regional blocks with a close proximity to Brisbane and a defining feature are attracting the attention of developers with an appreciation for the tree change movement.
A 14.26 hectare lot located at 1A Davies Street, Kalbar (pictured above), recently sold to a developer for $1.225 million.
Another 18.58ha lot at 76-80 Duncan Drive, Aratula (pictured below), sold for $1 million with a development approval for 38 lots. It was bought by a developer who specialises in regional areas.
Ray White Special Projects Queensland associate director Andrew Burke said both Scenic Rim properties had received a huge amount of interest with the Aratula property receiving 10 offers, and the Kalbar property receiving five offers.
“The Aratula property was previously on the market and received limited interest, and the sale was delayed at the were altering the development approval,” Mr Burke said.
“It was quite fortuitous as the market for those types of properties has dramatically increased.”
As working from home and commuting to work became more commonplace throughout Covid, Mr Burke said buyers had developed a greater appreciation for the treechange movement. However, he said there were certain criteria which a property must fit.
“It can’t just be just a paddock,” Mr Burke said.
“The Kalbar property had spectacular views to the Great Dividing Range as well as surrounding farms, plus the town had genuine country charm.
“The Aratula property had a spectacular view of Mt Edwards. It was also close to Moogerah Dam where people go water skiing.
“There has to be something special to it.
“The properties must also be within about an 80 minute drive from Brisbane, once you go any further than that people lose interest.”