Thousands of retirement and relocatable homes are either under construction or have been approved along a regional Queensland coastline known for its pristine beaches and “affordable” lifestyle.<\/p>\n
A combined 3,676 individual dwellings have been approved in Bundaberg, 4.5 hours’ drive north of Brisbane, by the council in the last 12 months.<\/p>\n
Among the 18 projects is a $320-million resort-style land lease community at Coral Cove, which includes 504 homes, a clubhouse and wellness facilities minutes from the beach.<\/p>\n
Construction has also begun on the first stage of a 437-home gated community at Burnett Heads.<\/p>\n
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Adrian Puljich, Helen Blackburn and Andrew Coulter turning the sod on the development at Burnett Heads. (Supplied: GemLife)<\/p>\n
GemLife managing director and chief executive Adrian Puljich said the $323-million project would be attractive to retirees migrating from south-east Queensland in search of an “affordable” lifestyle.<\/p>\n
“We envisaged this project taking approximately six to eight years to deliver from start to finish,” he said.<\/p>\n
Mr Puljich said homes would start from approximately $700,000 and that there were six designs to choose from.<\/p>\n
GemLife said it would also invest $3.7 million in road upgrades, wastewater and sewerage infrastructure for the community.<\/p>\n
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An impression of GemLife Lighthouse Bay at Burnett Heads. (Supplied: GemLife)<\/p>\n
REA Group senior economist Angus Moore said the demographic of people living in the Wide Bay, which included Bundaberg and Hervey Bay, was older than the rest of the state.<\/p>\n
“More than 40 per cent of [the] Wide Bay region is already aged over 55, compared to just under 30 per cent of Queensland as a whole,” he said.<\/p>\n
It also has the one of the highest percentages of over-65s in the country.<\/p>\n
Unlocking housing stock<\/p>\n
Mr Moore said retirement projects provided those people with an opportunity to downsize and unlock housing stock for younger families.<\/p>\n
“Downsizing and allowing our existing houses to be used by those that better suit them would help improve housing affordability,” he said.<\/p>\n
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More than 500 retirement homes will be built at Coral Cove. (ABC Wide Bay: Johanna Marie)<\/p>\n
But the area may not be as affordable as it once was, considering house prices in the Wide Bay have more than doubled in the last five years.<\/p>\n
The median house price is currently $666,000, compared to the Sunshine Coast’s median of $1,259,000 and the Gold Coast’s $1,345,000.<\/p>\n
Mr Moore believes the market will slow as more homes are built.<\/p>\n
“Building more homes is fundamentally the only way that we will start to improve housing affordability sustainably over the long-term,” he said.<\/p>\n
“In particular, building more homes where people want to live, which is increasingly places like the Wide Bay region.”<\/p>\n
Strain on health care and aged care<\/p>\n