Sky high demand for units but approvals remain in the doldrums
As the cash rate eases, demand for this increasingly popular housing choice is set to soar
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High density housing supply will fall significantly short of demand by 2027, CoreLogic predicts, leaving first homebuyers and investors out in the cold.
The CoreLogic Property Pulse report, authored by economist Kaytlin Ezzy, said the State of the Nation report released by the National Housing Finance and Investment Corporation forecast a national housing deficit of 175,000, with a 59 percent shortfall in unit supply.
Ms Ezzy said this comes as the market is increasingly turning to high density housing as a solution to Australia’s residential supply woes.
“The continued reliance on the unit sector to deliver fresh housing stock is particularly evident across some of Australia’s largest capitals, including Sydney and Melbourne, as well as the ACT, where limited land supply has made further development of low-density dwellings increasingly difficult,” Ms Ezzy said. “The medium to high-density sector is increasingly becoming an important tool in delivering additional housing stock for Australia’s growing population, especially as households continue to congregate in metropolitan areas.”
According to CoreLogic estimates made in August, units account for 30.4 percent of capital city housing stock. However ABS data shows a continuing decline in construction approvals, with July figures recording a -19.9 percent fall compared with the previous month and -39.8 percent below the decade average.
Ms Ezzy said the trend was set to continue.
“Despite surging demand, developers and consumers alike are exercising a more cautious approach in light of uncertain economic conditions, weaker capital gains, high construction costs, a tight labour market for trades and rising interest rates,” Ms Ezzy said. “With fewer unit projects set to move through the construction pipeline, it’s likely completions will continue to ease, with units making up a smaller portion of new housing stock over the coming years.”
While current concerns among buyers in regard to higher interest rates and an uncertain economic outlook have kept the lid on prices despite growing demand, Ms Ezzy said that could change next year.
“With the cash rate potentially easing in 2024, greater purchasing demand could fuel a stronger price boom in the unit market at this time,” she said.
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Mount French Lodge offers a rare mix of privacy, scale and hospitality potential as demand grows for prestige estates beyond beachside hotspots.
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Mount French Lodge, one of the most remarkable private estates in Queensland’s Scenic Rim, has been brought to market, offering a glimpse into the growing appetite for high-end lifestyle properties beyond the state’s traditional beachside enclaves.
Located in the tiny locality of Charlwood, around 100km inland from Brisbane and home to just 146 residents at the 2021 Census, the estate stands in stark contrast to its quiet surroundings. Set across nearly 100 acres and positioned some 600 feet above sea level, the property occupies a commanding vantage point beneath the escarpments of Mount French.
It’s this combination of elevation, scale and seclusion that defines the estate, not just as a private residence, but as an experience-led destination. Mount French Lodge has been recognised in both the 2024 and 2025 Best of Queensland Experiences, reflecting a broader shift towards luxury rural retreats that blur the line between home, hospitality and investment.
Last sold for $3.65 million in 2021 to Brisbane-based entrepreneur Tim Woodhouse, the estate has since evolved into a multifaceted holding. At its core is a central lodge, complemented by guest accommodation, entertaining spaces and resort-style amenities spread across two distinct plateaus.
In total, the property comprises 12 bedrooms configured across eight self-contained apartments within multiple lodges. At its heart is the Great Room, a central gathering space anchored by a large living area and fireplace. Nearby, a fully equipped outdoor pavilion with barbecue facilities sits alongside the estate’s swimming pool.
The property is being marketed as a private compound, ranch, corporate retreat and a wedding venue, highlighting its potential as a lifestyle asset with income-generating capability. This kind of flexibility is increasingly resonating with buyers, particularly as demand grows for properties that can serve as multigenerational homes, wellness retreats or boutique accommodation offerings.
Despite its sense of isolation, Mount French Lodge remains within relatively easy reach of Brisbane, around an hour by road or just minutes by helicopter. That balance of accessibility and privacy underscores the broader appeal of the Scenic Rim, which continues to emerge as a quiet achiever in Queensland’s prestige property market.
The listing is being handled by Queensland Sotheby’s International Realty agents Sandy Davies and Nicholas Miranda, and is expected to attract interest from both domestic and international buyers.
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