A NEW SUBURBIA CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION - Suburban Alliance

Page created by Donna Hughes
 
CONTINUE READING
A NEW SUBURBIA CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION - Suburban Alliance
A NEW
SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION
PREPARED FOR Suburban Alliance
February 2020

                                                1
A NEW SUBURBIA CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION - Suburban Alliance
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Important Notice
© MacroPlan Holdings Pty Ltd All Rights Reserved. No part
of this document may be reproduced, transmitted, stored in a
retrieval system, or translated into any language in any form
by any means without the written permission of
MacroPlan Holdings Pty Ltd. All Rights Reserved. All
methods, processes, commercial proposals and other
contents described in this document are the confidential
intellectual property of MacroPlan Holdings Pty Ltd and may
not be used or disclosed to any party without the written
permission of MacroPlan Holdings Pty Ltd.

MacroPlan staff responsible for this report:

Mark Courtney, General Manager – QLD
Yvette Burton, Senior Consultant
Harry Courtney, Analyst
Jack Courtney, Analyst

Contact

Level 1
310 Edward Street
Brisbane QLD 4000
(07) 3221 8166
info@macroplan.com.au

                                                                2
A NEW SUBURBIA CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION - Suburban Alliance
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

ABOUT THE SUBURBAN ALLIANCE
www.suburbanalliance.com.au

The Suburban Alliance is a not-for-profit collaboration of   Research project sponsor:
people and businesses who believe that opportunities for     The Residential Development
greater suburban quality of life, business opportunity and
                                                             Council
economic expansion could get more attention and
support than they currently do. We are not a lobby group
but instead intend to promote leading ideas, world-class
thinking, and local issues that relate to the enhancement
and vitality of suburban centres and their future
prospects.

Our Mission                                                  The Residential Development Council is a division of
To promote a better understanding of the important           the Property Council of Australia. It is the leading
role of the suburban economy in the life of our cities,      representative for the country's largest residential
through shared insights, information and analysis.           developers, providing powerful advocacy on behalf of
                                                             the industry that drives Australia's economy. It seeks
                                                             to promote an evidence based approach to
Our Vision                                                   understanding the role of the residential development
Progressive cities where quality social and economic         sector in the economic life of Australia, and in
infrastructure is equitably distributed across both          providing Australians with homes in which to live.
suburban and inner urban locations.

Our Goal
Equitable quality of life for suburban residents by
facilitating greater employment, leisure and retail
choices closer to where people live.

Corporate Members
Supporting the research efforts and public
engagement activities of The Suburban Alliance:

                                                                                                                      3
A NEW SUBURBIA CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION - Suburban Alliance
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Table of contents
Key findings                              5

Introduction                              6

Regional and local context                7

Amenity & infrastructure                  9

Population profile                      11

Demographic profile                     12

Worker profile                          14

Property market indicators              15

Energy use & sustainability             16

                                                4
A NEW SUBURBIA CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION - Suburban Alliance
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Key findings
On behalf of the Suburban Alliance, Macroplan have undertaken an evidenced-based assessment of new suburban
communities. Below are the key findings for the master-planned communities of North Lakes and Greater Springfield,
in comparison to Brisbane Inner suburbs.

LOCAL AMENTIY & INFRASTRUCTURE

              •   Significant variance in the amount of                   •   Every      day   needs         are    well
                  open space enjoyed by residents                             accommodated       for    –     transport,
              •   Commute time to Brisbane CBD just                           education, medical, retail, sporting
                  45 mins                                                     and entertainment facilities.

POPULATION & DEMOGRAPHICS
              •   Strong historic population growth as                    •   Larger average household size with
                  the suburbs have developed and                              a higher proportion of traditional
                  continue to develop                                         families
              •   Lower population density covering a                     •   Higher percentage of couples with
                  larger geographic area                                      just one person employed full-time
              •   Younger average age, with a higher                      •   Comparable household incomes
                  % of children                                           •   Higher average household spend on
              •   Higher dependency on cars for                               groceries,   household        goods   and
                  getting to work and driving kids to                         general retail
                  school and sport

EMPLOYMENT

        10%
              •   Only ~10% of residents commute to                       •   Retail sector top employer
                  Brisbane Inner for work                                 •   Higher percentage of the workforce
              •   The majority (65-70%) work either                           are female
                  locally or within the surrounding area                  •   Higher percentage of the workforce
                                                                              are under 30 yrs of age

RESIDENTIAL PROPERTY

 50%          •   Affordable housing with house prices                    •   Lower vacancy rates
                  up to 50% cheaper and comparable                        •   Higher rental yields
                  to Bris Inner unit prices

ENERGY USE
              •   Similar to Brisbane Inner, however                      •   Households in Springfield 4.4 times
                  Springfield     residents   consume                         and North Lakes 2.4 times more
                  around 10% more on ave. per month                           likely to use solar energy

                                                                                                                           5
A NEW SUBURBIA CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION - Suburban Alliance
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Introduction
In some urban planning circles, suburbs are viewed as inferior to inner urban areas for a host of reasons: from
economic, to environmental, to traffic/congestion, and cultural and social. New suburban development has been
pejoratively labelled “sprawl” and is widely regarded as a less desirable form of urban growth.

The Suburban Alliance believes an evidence-based assessment of new suburban communities will reveal that many
of these anti-suburban prejudices are not justified. We have chosen North Lakes and Springfield in the Brisbane
region as two case studies of new suburban development because they were both “masterplanned” suburban
communities which started from nothing, and both have had more than 20 years to develop and mature.

The Suburban Alliance engaged Macroplan to prepare an evidence based assessment of new suburban
communities in order to facilitate and inform discussion around urban and regional development, with North Lakes
and Greater Springfield chosen as case studies.

The report includes the following for each case study community:
•   A review of the regional and local context of the areas, including a brief history of the community and masterplan
    background;
•   A review of the demographic profiles, based on the latest Census data;
•   An overview of the residential property market profiles;
•   A review of the employment profiles of each community;
•   A review of commuting patterns for each community;
•   A review of environmental and open space attributes for each community; and
•   An overview of local services and amenity of each community.

    “Suburbia is not a condition that needs to be cured. It is not an
    ailment.

    Indeed, in many respects, new suburban developments offer
    enhanced quality of life, environmental and economic
    outcomes to their residents.

    A more balanced appreciation of the characteristics of new
    suburban developments is what we hope to achieve via
    research projects such as this.”

                                                                  The Suburban Alliance. February 2020.

                                                                                                                         6
A NEW SUBURBIA CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION - Suburban Alliance
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Regional and local context
    NORTH LAKES
•   North Lakes is located within the Moreton Bay       •   Local amenity is set to improve with a new
    Regional Council area, approximately 27km north         lifestyle and commercial precinct, Laguna North
    of Brisbane and 10km inland of Redcliffe.               Lakes, with construction due to commence mid-
                                                            2020.
•   Residential development of the master-planned
    community began in the late 1990’s with new         •   The $250 million precinct will include a further
    residents calling the suburb home at the start of       5,000 sq.m of retail, 10,500 sq.m of commercial
    2000.                                                   space, 140-room hotel, 2,000 sq.m gym, lagoon-
                                                            style swimming pool and learn to swim pool plus
•   Originally part of Mango Hill, North Lakes was
                                                            3,000 sq.m poolside restort-style hospitality
    gazetted as a separate suburb in 2006.
                                                            venue.
    Continued residential development would see the
    resident population grow strongly by an average     •   Residents also benefit from access to Moreton
    13% per annum for the 10 years following.               Bay’s first university campus newly completed in
                                                            early 2020 in the nearby suburb of Petrie, of
•   North Lakes, home to an estimated 36,650
                                                            which is readily accessible by train. The new
    residents in 2019, was developed as a place
                                                            University of Sunshine Coast campus had its first
    where people could live, work and play with
                                                            intake of students in Semester 1 2020, with the
    around 30 percent of the suburb dedicated to
                                                            campus forming part of the first stage of the 10.5
    open space, including waterways, parklands and
                                                            hectare, ‘The Mill’, educational and cultural
    recreational facilities.
                                                            precinct.
•   Now a well-established community, residents
                                                        •   For the purposes of this assessment, the North
    have access to a variety of schools, health
                                                            Lakes – Mango Hill SA2 has been used, which
    precinct and hospital as well as multiple retail
                                                            also includes the suburb of Mango Hill, another
    facilities including Westfield North Lakes, sub-
                                                            masterplanned community, which was largely
    regional shopping centre, an Ikea and
                                                            established when development in North Lakes
    Queensland’s only Costco outlet.
                                                            began.

     North Lakes
     Source: stockland.com.au

                                                                                                                 7
A NEW SUBURBIA CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION - Suburban Alliance
A NEW SUBURBIA
    CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

    Regional and local context
    GREATER SPRINGFIELD
•    Greater Springfield (Springfield) is located within
     the Ipswich City Council area, approximately
     30km southwest of Brisbane and 20km southeast
     of Ipswich CBD.

•    Encompassing 2,860 hectares Springfield is
     Australia’s largest and first privately developed
     satellite city, situated in one of SEQ’s fastest
     growing corridors and includes the suburbs of
     Springfield, Springfield Central, Springfield Lakes,
     Augustine Heights, Spring Mountain and                 Springfield Central
     Brookwater.                                            Source: greaterspringfield.com.au

•    The master-planned community is centralised            •   In addition to a growing town centre, residents
     around the town centre of Springfield Central,             also have access to a significant amount of
     which currently accommodates a sub-regional                parklands and recreational facilities, with 30
     shopping centre, Orion Springfield, Orion                  percent of Springfield to be dedicated to outdoor
     swimming lagoon as well as commercial,                     space. This currently includes the 24ha Robelle
     educational and health precincts, including a              Domain parklands, White Rock - Spring Mountain
     Mater Private Hospital and University of Southern          Conservation Estate, Springfield Central Sports
     Queensland campus.                                         Complex (opened 2019) and Brookwater Golf
                                                                Club as well as a number of parks and children’s
•    Once fully developed, Springfield Central’s                playgrounds.
     390-ha CBD will accommodate 2.6 million square
     metres of mixed use space, including                   •   Some key developments proposed for Springfield
     commercial, retail and educational uses, along             include a 1,200-bed Mater Public hospital, and a
     with 22,850 residential units.                             Brisbane Lion’s AFL stadium (due for completion
                                                                2021).
•    Since residential development first began in the
     late 1990s, Springfield’s population has grown         •   As the city continues to develop, sustainability will
     significantly with the resident population                 continue to be paramount, with the city aiming to
     increasing by an average of 10.1% per annum                achieve zero net energy by 2038 as well as
     over the 10 years to 2016.                                 integrating sustainable design into buildings and
                                                                the landscape.
•    With an estimated resident population of
     approximately 36,000 in 2019, Springfield’s
     population is forecast to increase to nearly                So how do these two
     120,000 by 2036.

•    Residents have access to a variety of schools
                                                                 master-planned regions
     offering both primary and secondary, public and             really compare to the likes
     private education as well as a TAFE and a
     number of child care centres.
                                                                 of Brisbane’s Inner
•    Springfield is supported by bus services as well
                                                                 suburbs?
     as two train stations located at Springfield Central
     and Springfield. The region is also easily
     accessible via the Centenary Highway as well as
                                                                 Why are more and more
     the Logan and Ipswich motorways, providing                  people choosing to live in
     connections to Brisbane, Ipswich and the Gold
     Coast.
                                                                 the New Suburbia?

                                                                                                                        8
A NEW SUBURBIA
   CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

   Comparing amenity & infrastructure
           Open space
            Public space - % of total geographic area

                       30%                                                                                                                9%
                                                                             42%

North Lakes                                       Springfield                               Bris Inner
    •      Residents in North Lakes and Springfield enjoy a                                 Private space                               Public space
                                                                                                                                           0.41
           much higher percentage, 30% and 42%
           respectively, of the suburb dedicated to open                                           800
                                                                                                                                 0.22
           space, compared to just 9% in Brisbane Inner                                      535
                                                                                                         445

    •      On    per capita basis, North Lakes and                                                                                                 0.02
           Springfield enjoy 10 to 20 times more public
           open space to that of Brisbane Inner residents                                  Ave. lot sizes (sq.m)                 Sq.km / 1000 residents

    •      Residents also enjoy a greater amount of                                                                North Lakes      Springfield    Bris Inner

           private space, with larger average lot sizes.

        Source: Australian Bureau of Statistics, Brisbane City, Ipswich and Moreton Bay Regional councils, macroplan

         Parks, recreation areas & sporting facilities
         Public space in masterplanned communities tends to be provided for by developers. In the inner city, it is provided
         by tax payers via state of local government instruments.

         North Lakes:                                        Springfield:                                            Brisbane Inner:
         • Town Park Lake Eden                               • Robelle Domain                                        • South Bank Parklands,
         • North Lakes Golf Course                           • Orion Lagoon and parklands                            • Botanic Gardens (CBD),
         • Halpine Lake Reserve                              • Springfield Sports Complex,                           • Roma Street Parklands,
         • Melaleuca Lakes and Parklands                     • White Rock - Spring Mountain                          • New Farm Park,
         • North Lakes Environmental Park                       Conservation Estate,                                 • Kangaroo Point Cliffs
         • North Lakes Aquatic Centre                        • Brookwater Golf Club,

            North Lakes Environmental Park                    Orion Lagoon                                               Brisbane Botanic Gardens
            Source: weekendnotes.com.au                       Source: greaterspringfield.com.au                          Source: brisbane.qld.gov.au

                                                                                                                                                                9
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Comparing amenity & infrastructure
   Social Infrastructure
                                                      North Lakes        Springfield             Bris Inner
                                   Hospitals               1                  1                         9
                              Medical centres              8                  3                         49
                                    Child Care            16                  8                         35
                               Primary School             12                  9                         11
                           Secondary School                9                  6                         14
                                   Universities            0                  1                         6
                                          Tafe             0                  1                         3

   Public transport                                                                Major Developments
                                                                                   North Lakes
       Brisbane
          Inner                                                                    •   Laguna project (p) - $250m
                                                                                       North Lakes Lifestyle and
    Springfield                            40-45 minute commute to CBD                 Commercial precinct to include:
                                                                                        5,000 sq.m of retail,
            North                          45 minute commute to CBD                     10,500 sq.m commercial space,
            Lakes                                                                       140-room hotel,
                                                                                        2,000 sq.m gym,
                                                                                        lagoon-style swimming pool and
                                                                                         learn to swim pool plus
   Sporting clubs & facilities                                                          3,000 sq.m poolside restort-style
                                                                                         hospitality venue.
                                                                                        Due to commence mid-2020,
                                        North Lakes        Springfield
                                                                                         with completion by 2022.
  AFL                                             Y            Y
  AUS Kick                                        Y            Y
  Basketball                                      Y            Y                   Springfield
  Bowls                                           N            N                   •   75% of Greater Springfield yet to
  Cricket                                         Y            Y
                                                                                       be developed, with planning
  Cycling                                         Y            Y
                                                                                       approval for a further ~2.685
  Golf                                            Y            Y
                                                                                       million sq.m of mixed use
  Indoor sports centre                            Y            Y
  Little Athletics                                N            Y                       development (worth ~$70bn).
  Martial arts (Boxing, Karate, etc.)             Y            Y                   •   Mater Hospital, 1,200 beds (p)
  Netball                                         Y            Y                   •   18 ha education precinct
  Park run                                        Y            Y                   •   Brisbane Lions stadium &
  Performing Arts / Dance                         Y            Y                       training facility (p)
  Public pool / Aquatic centre                    Y            Y
  Rowing / sailing / canoing                      N            Y
                                                                                   Brisbane Inner
  Rugby                                           Y            Y
  Rugby League                                    Y            Y                   •   Queens Wharf (UC)
  Soccer                                          Y            Y                   •   Cross River Rail (UC)
  Tennis                                          Y            Y                   •   Brisbane Live (p)
  Touch                                           Y            Y                   •   Brisbane Metro (p)
  Walk/Bikeways                                   Y            Y
                                                                                   UC – under construction
   Source: flaticon.com.au, macroplan                                              p - proposed

                                                                                                                             10
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Comparing population profile
                 Historic and projected population                                  Average annual growth
                140                                                                   13.0%
Thousands

                120                                                                       10.1%
                100
                 80                                                                                                6.1%
                 60
                 40                                                                           3.0%                      3.2%
                                                                                                             2.4%
                 20
                 -
                              2006               2016              2036 (f)             2006-2016              2016-2036
                          North Lakes        Springfield      Bris Inner              North Lakes    Springfield       Bris Inner

            •        Historically, North Lakes recorded the strongest
                                                                                   Population density (persons / sq.km)
                     growth @ 13% AAGR

            •        Springfield is set to continue strong growth and                                    North Lakes      Springfield     Bris Inner
                     by 2036 accommodate a resident population
                     similar to Brisbane Inner, but at nearly two and                         2016
                     half times less in density.

                                                                                              2036

                                                                                                     -       2,000     4,000      6,000      8,000

                Source: Australian Bureau of Statistics, flaticon.com, macroplan

                  Source: communities.lendlease.com

                                                                                                                                                       11
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Comparing demographic profile
        Household type & size                                                            North
                                                                                                           Springfield
                                                                                                                                Brisbane
                                                                                         Lakes                                   Inner
 •      Traditional families (couples with dep't child.) the
        more predominant type in suburban areas, with                                    60%                 62%                    27%
        an average household size of 3 compared to 2 in
        Brisbane Inner
                                                                                         18%                 16%                    37%
 •      Households without children make up 60% of
        families in Brisbane Inner                                                        5%                     4%                 23%
 •      With a higher proportion of young families, the               Ave.
                                                                 household                   3                   3.1                     2
        average age of North Lakes and Springfield                    size
        residents is considerably lower than Brisbane
        Inner                                                  100%                                                                 37             40
                                                                                 32
                                                                                                           29
        Average age                                                                                                                 63%
                                                                                                           50%
 •      Higher average age for Brisbane Inner reflective       50%
                                                                                 46%
                                                                                                                                                   20
                                                                           34%                       35%
        of higher proportion (~50%) aged between 20 and                                                                                      24%
                                                                                       20%
        40yrs and ~24% aged 50 and over.                                                                         15%          13%

 •      Over a third of residents in North Lakes and            0%                                                                                 0
                                                                           North Lakes                Springfield               Bris Inner
        Springfield are infant and school aged children (0-                0-19        20-50                50+               Ave Age
        19yrs) compared to ~13% in Brisbane Inner
                                                                 Source: Australian Bureau of Statistics, flaticon.com, macroplan

        Ethnic origin                                             Average incomes, employment &
                                                                  education level
                                             5%
     Bris Inner                55%                  19%                                                                              $116,295
                                              4%                  Household                                                            $124,508
                                                                                                                                     $116,876
 Springfield                     66%               5% 9% 10%
                                                                                                     $38,945
                                                                  Per capita                         $39,796
North Lakes                     65%                9% 9% 7%                                                $57,219

                  Australian    UK     NZ   Asia   Other

 •      Higher proportion of Australian-born residents in
                                                                                                                      45%     44%
        Springfield and North Lakes
                                                                                                                                     36%
 •      Of those born overseas currently living in North                      23%
                                                                                       26%   27%

        Lakes the majority are from either the UK or New
        Zealand, compared to a higher proportion of
        Asian-born residents in Brisbane Inner
                                                                              Both employed FT                         One employed FT
 •      Lower per capita incomes relative to Brisbane
        Inner, however household incomes on par or
        higher which, as further indicated by the                                      42%
                                                                                                     32% 32%
        employment status of ‘couple families’, reflects a                                                                          21%
                                                                        21%      21%                                          19%            19%
        greater opportunity for one partner to either stay-                                                      16%
        at-home or be employed part-time

 •      Only 21% have a Bachelor degree or higher                       Bachelor degree or         Diploma / Cert                Year 12
                                                                             higher
        compared to 42% of Brisbane Inner residents
                                                                                       North Lakes      Springfield         Bris Inner
 •      North Lakes and Springfield residents are more
        likely to have a Diploma or Certification (~32%)              Source: Australian Bureau of Statistics, flaticon.com, macroplan

                                                                                                                                                        12
A NEW SUBURBIA
  CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

  Comparing demographic profile
            Retail Spend
   •        Similar to average incomes, per capita retail                                     Household spend compared to Brisbane Inner
            spend is lower in North Lakes and Greater
            Springfield, compared to Brisbane Inner, however                                         Food Catering
            average household retail spend is between 16
                                                                                                    Retail Services
            and 20 percent higher.
                                                                                                     General Retail

                                                                                                 Household Goods
            Household
                                                                                         Other Food & Groceries

                                                                                                           Fresh Food
             Per capita                                                                                             -25%              0%            25%    50%

                                                                                                                   North Lakes        Springfield
                          North Lakes      Springfield      Bris Inner

   •        Higher household expenditure and the type of                                 •      Household spending is considerably higher on
            retail categories on which it is spent is reflective                                fresh food and groceries (30-45%), household
            of higher average household size and proportion                                     goods (20-30%) and general retail (40-50%),
            of traditional families.                                                            whilst lower on food catering (-20%) and retail
                                                                                                services (up to -20%).

Source: Australian Bureau of Statistics, flaticon.com, macroplan

            Modes of transport
            Car ownership                                                                    How residents get to work
 100%            2.1                                                          2.4
                                                                1.9           2.2        Walk/Bicycle
                                                                                                                           28%
                                           1.6                                2.0
                                                                              1.8
                                                                              1.6
                                                                              1.4            Private car
   50%                                                                        1.2                                                38%
                                                                              1.0
                                                                              0.8
                                                                              0.6   Public transport
                                                                              0.4                                       20%
                                                                              0.2
       0%                                                                     -                            0%                     50%                     100%
                 North Lakes            Springfield          Bris Inner
                                                                                                      North Lakes       Springfield        Bris Inner
        % 0 Cars      % 1 Car     % 2 + Cars     Ave. no. of people per car

   •        There is a higher proportion of multiple car                             •       High car ownership is reflected in a higher
            ownership in North Lakes and Springfield, with                                   proportion of North Lakes and Springfield
            over 50% owning 2 or more cars, compared to a                                    residents using a car as their primary mode of
            thirdd of Brisbane Inner households. This is                                     transport to and from work (~75%)
            reflective of traditional families where a car is                        •       Brisbane Inner residents have a stronger
            needed for multiple purposes (school drop off,                                   preference for walking/cycling to work and a
            kids sport, etc.)                                                                relatively higher profile for public transport
   •        High car ownership is also reflected in a higher
            proportion of NL and GS residents using a car as
            their primary mode of transport to and from work
  Source: Australian Bureau of Statistics, flaticon.com, macroplan

                                                                                                                                                                 13
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Comparing worker profile
    Where residents work

                          56%
                                   48% 48%                                      Reside:                             Work:
                                                                                Study area        Brisbane Inner Local area           Surrounding area
                                          34%                                   North Lakes       SA3               Within study      Brisbane north side
                                                                                                                    area              and Moreton Bay
                    22%
                       17%
                                                                                Springfield       SA3               Within study      Brisbane south side,
                                                       16%
    11%
          12%
                                                    10%                                                             area              Ipswich and Logan
                                                                   9% 7%
                                                         5%                6%   Bris Inner        n/a - refer local Within study      Rest of Brisbane
                                                                                                  area              area              LGA
     Brisbane       Local area    Surrounding Elsehwere in Elsehwere in
       Inner                          area       Greater       Qld &
                                                Brisbane     interstate

                    North Lakes       Springfield     Bris Inner

•   Percentage of residents that live and work in their                                      •    North Lakes and Springfield residents
    local and surrounding area:                                                                   are just as likely to work elsewhere in
                                                                                                  Greater Brisbane or somewhere else in
            •     North Lakes = 70%                                                               Queensland as they would Brisbane
            •     Springfield = 65%                                                               Inner.
            •     Brisbane Inner = 90%
                                                                                             •    The proportion of residents that work
•   For both North Lakes and Springfield, only                                                    within their local area has increased by
    around a tenth of residents commute to                                                        4-5% for both North Lakes and
    Brisbane Inner for work.                                                                      Springfield between 2011 and 2016.
Source: Australian Bureau of Statistics, macroplan

    Local workforce profile                                                                      North Lakes                            Brisbane
                                                                                                 & Springfield                           Inner
100%
 75%
                                                                                                                                                               ~50%
 50%                                                                                                                            ~50% aged                     Female
 25%                                                                                Over 30%                  ~60%               30-50yrs
  0%                                                                               aged 40% less                                     ~$93,000              Prof. tech &
                                                                                                        Retail trade
•   The workforce in both North Lakes and                                                               #1 employer
                                                                                                                                                       services
                                                                                                                                                         ~20%
    Springfield have a higher proportion (over 30%)                                                      ~20-25%
    of workers who live locally (ie within the same
    catchment as their workplace), compared to
                                                                                  75.0%
    Brisbane Inner (11%).

•   Between 2011 and 2016, the size of North Lakes’                               50.0%
    and Springfield’s workforces doubled, compared
    Brisbane Inner’s increasing by only 7 percent.                                25.0%

•   Even with a doubling in workforce size, North                                  0.0%
    Lakes and Springfield’s rate of self-sufficiency                                         Unemployed    Full time   Part Time       Male         Female
    (i.e. employing those who live locally) remained                                                    North Lakes     Springfield    Bris Inner
    relatively unchanged at ~30% and ~48%
    respectively                                                                          Source: Australian Bureau of Statistics, flaticon.com, macroplan,

                                                                                                                                                                       14
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Comparing property market indicators
     Housing affordability                                                                Dwelling typology & ownership

                                                                                          Unoccupied
                                   ≈
                                                                                                 Unit

                  $485,000 -                  $390,000-
                                                                                               House
                  $525,000                    $530,000
       North Lakes &                          Brisbane
        Springfield                            Inner                                             Rent
          HOUSE                                 UNIT
                                                                                            Mortgaged

•    The median sale price for a unit in Brisbane Inner
                                                                                               Owned
     is comparative to a house in North Lakes and
     Springfield
                                                                                                        0%     25%        50%      75%      100%
•    Median house prices in North Lakes and
                                                                                                     North Lakes   Springfield     Bris Inner
     Springfield are up to 50% cheaper than Brisbane
     Inner.

•    Detached houses are the predominant dwelling                                     •     While the proportion of dwellings rented is
     type for both North Lakes (77%) and Springfield                                        typically high in Brisbane Inner, North Lakes and
     (86%), compared to higher density dwellings                                            Springfield have around 45% of dwellings that are
     (71%) in Brisbane Inner.                                                               rented, with a lower unoccupied rate’ indicating
                                                                                            healthy tenant demand.
•    Average lot sizes larger than Brisbane Inner

‘As at 2016 census night
Source: CoreLogic RP Data, Australian Bureau of Statistics, flaticon.com, macroplan

    Yields and Vacancy rates
                                                                                                                                            Indicative yields

                                North Lakes        Springfield          Bris Inner
        Vacancy rates

                        7.5%
                                                                                             5.0%                  5.4%
                        5.0%                                                         4.4%
                                                                 4.1%
                                                                                                                            4.8%
                        2.5%                                     2.7%
                                                                                                3.5%
                                                                 2.0%
                        0.0%
                               2014 2015 2016 2017 2018 2019                                Houses                     Units

•   Vacancy rates have averaged ~3% for both North                                    •     With strong tenant demand, indicative yields are
    Lakes and Springfield (2014-2019) compared to                                           also stronger for both houses and unit compared
    ~5.5% for Brisbane Inner                                                                to Brisbane Inner

Source: CoreLogic RP Data, SQM research, macroplan

                                                                                                                                                                15
A NEW SUBURBIA
CASE STUDIES OF SUCCESSFUL SUBURBAN EXPANSION

Comparing energy use & sustainability
     Residential energy & solar
      Per capita energy use                                                           Households using solar

                              172                                            Springfield (4300)
                                                   157                                                                                       5,522
        152                                                                  North Lakes (4509)
                                                                             Bris Inner
                                                                                                                                             3,070

                                                                                                                                             1,264

     North Lakes      Springfield (4300)        Bris Inner        2009       2010     2011    2012     2013     2014     2015     2016   2017
       (4509)
                                                                                      Usage ratio to Brisbane Inner
 •    Energy usage on a per capita basis is relatively
      similar compared to Brisbane Inner. Springfield
      residents consume around 10% more electricity                                                                             4.4 X Solar usage
                                                                                    Springfield
      on average per month.
                                                                                                                       2.2 X Pools
 •    We assume Springfield households likely
      consume more energy due to a higher number of
                                                                                          North
                                                                                                                  2.4 X Solar usage
      pools.
                                                                                          Lakes
 •    Growth in solar usage has outstripped that of                                                           1.6 X Pools
      Brisbane Inner, with households in Springfield 4.4
      times and North Lakes 2.4 times more likely to                                 Energy usage and pool counts are based upon Energex data by
                                                                                     postcodes 4509, 4300 and an aggregate of postcodes 4000, 4101
      use solar energy.
                                                                                     and 4005 for Brisbane Inner.

 Source: Energex, Australian Bureau of Statistics, flaticon.com, macroplan

Sustainability
 North Lakes:                                                                    Springfield:

 •    Sustainable building practices:                                            •     Sustainable building practices – 5-green-star
       The Corso – first commercial building in                                       rated:
         Australia to be awarded a 5-green-star                                         Springfield Tower,
         rating                                                                         GE Building
       North Lakes Business Park designed                                       •     Dedicated integration of uses with the natural
         around sustainability design guidelines                                       environment and provision of open space
       North Lakes Sports Club powered by 1,000                                 •     Zero net energy target by 2038:
         solar panels                                                                   renewable energy generation;
                                                                                        storage infrastructure
                                                                                        district energy schemes
                                                                                        green mobility solutions
                                                                                        energy efficiency initiatives
                                                                                        water saving
                                                                                        sustainable living practices

                                                                                                                                                     16
SYDNEY                 MELBOURNE            BRISBANE            GOLD COAST            PERTH
Level 10               Level 16             Level 1             Level 2               Level 1
580 George Street      330 Collins Street   310 Edward Street   89 - 91 Surf Parade   89 St Georges Terrace
Sydney NSW 2000        Melbourne VIC 3000   Brisbane QLD 4000   Broadbeach QLD 4218   Perth WA 6000
(02) 9221 5211         (03) 9600 0500       (07) 3221 8166      (07) 3221 8166        (08) 9225 7200

www.macroplan.com.au
You can also read