The part-time property developer trend is on the rise in Queensland as professionals - particularly construction professionals - look to transform their skills into profits in the wake of the mining downturn, according to Australia’s leading property portal,
Development Ready Managing Director Nick Materia said property development was an attractive option for those with prior construction or project management experience.
“While an infrastructure boom is underway in NSW and Victoria with more than $15 billion in metro rail projects, not all construction professionals are prepared to pack up and move down south for these jobs,” Mr Materia said.
“Engineers are just one group of construction professionals with exceptional technical abilities and a high-level experience working in time-critical environments.
“Our data suggests a significant increase in engineers subscribing to the site over the past 12 months, compared to the previous 12 months."Development Ready, which specialises in listing development opportunities for sale across Australia, says the trend of construction professionals turning their hand to property development was a recent but growing trend across Queensland.
The website, operational since 2015, has evolved rapidly to become one of Australia’s leading platforms for listing a broad range of development sites for sale, currently with over 10,000 subscribers including investors, developers and real estate agents.
Gold Coast-based civil engineer Finnian Rowe stepped into property development after six years of working on “everything from large-scale infrastructure and mining projects, to retail fit outs.”
Mr Rowe, with extensive project management experience, is about to begin work on his first development after receiving Council approval - a duplex in Palm Beach.
“The existing house will be demolished to make way for the three-bedroom, three-bathroom, two garage duplex, which took over 12 months to plan," Mr Rowe said.
“Because of maintaining a code-assessable DA, the approval was fast tracked and approved in weeks. I soon distributed a package to three local builders, and within six weeks a builder was awarded, and now we are looking at a construction timeframe of six months.
“In property, everyone talks,” he said of planning the right development. “So that meant I could learn about what others did well and not so well,” he said.
In a separate statement, property identity John McGrath has hailed South East Queensland the next property hotspot, specifically Palm Beach.
The real estate agent and founder of McGrath Limited said buyers were 'eyeing off' the south east corner where they saw exceptional value, particularly in beachside property.
"There is one thing I'm very sure about when it comes to the Australian residential real estate market and that is that South East Queensland is the next market to go," Mr McGrath said.
"Property buyers and owners will enjoy a significant uplift in values over the next few years in this market.
"After increases of 50 to 100 per cent in Melbourne and Sydney over the last six years, investors, 'sea-changers' and 'tree-changers' are all eyeing off South East Queensland and are seeing incredible value."