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Changing housing market of Surat Basin, Queensland: Policy implication for regions in transition
conference contributionposted on 06.12.2017, 00:00 by Delwar Akbar, John Rolfe, Adam Rose, Lindsay Greer
The Surat Basin in Queensland is a resource region, is now becoming an Australia’s new ‘multi-energy’ region, with billions of dollars in development planned for a diverse array of projects that encompass coal seam gas, liquid natural gas, coal mining and new power stations. This basin is now characterised as a region in transition from an agricultural dominated region to a resource region. The currently developing resources in the Surat Basin created a growth corridor, which is here named as Toowoomba-Roma corridor. This study examines population growth and the changes in housing demand and market of one of the towns (i.e., Roma) within this corridor.Currently about 30 major projects include coal seam gas, liquid natural gas, coal mining and new power stations, will directly create 9,500 construction jobs and 6,400 operational jobs. Total demographic increase is predicted to be 75,126 persons. Up to 10% of the total labour force will come from the local sources and the rest will come from outside the region, and they require accommodation either on permanent or temporary basis. Modelling shows that median housing prices have been estimated to increase between $13,000 and $14,000 per annum in Roma as a consequence of the market pressures. Based on the relationship between dwelling types and family type, it is estimated that about 60 private dwellings need to build every year in Roma to accommodate increased population till 2026. That is why this paper provided some strategic guidelines to improve the current housing situation in this region and their application in other regions in transition.