Toowoomba is enjoying strong population growth which is driving property demand. Hot property house and land opportunities in the area include Essence Estate by Homecorp. With Toowoomba having some of the fastest selling property in regional Australia, Essence is proving to be a regional winner for property investors.
Regional Property Hot Spots
CoreLogic’s Regional Market Report shows Queensland’s market is flourishing stoked by southern-state buyers chasing sun, space and affordability.
With around 123,000 residents, Toowoomba is the second most-populated inland city, behind Canberra, and is known for its architecture and rich streetscapes, which includes the art deco picture palace, the Empire Theatre, and a grand city hall.
Toowoomba Hot Property: House and Land opportunities include Essence Estate by Homecorp
At Homecorp, we believe it is key to not only deliver but to go beyond expectation. Our purpose is to develop the best property product, processes and outcomes. As part of our process, Homecorp consider the Australian construction industry outlook and how it impacts what we are developing and where.
Australian Construction Industry
The Australia construction market is expected to grow from USD 163.34 billion in 2023 to USD 213.31 billion by 2028, at a CAGR of 5.48% during the forecast period (2023-2028).
Investment in the industry has always been a key driver of the market. Technological innovation is now also driving growth and increasing productivity.
The Australian construction industry generates nearly 360 billion in revenue (9% of the country’s Gross Domestic Product (GDP)) and has a projected annual growth rate of 2.4%.
It employs approximately one in 10 workers which is 9.6%% of the total workforce.
Australian Government Statistics indicate the construction industry workforce is 1,322,100.
The Australian government has a strong vision for developing smarter communities powered by cutting-edge technology solutions. New technologies in the construction industry are disrupting traditional models for planning, staffing, monitoring, and delivering projects as the physical world becomes increasingly digitized.
Homecorp are already advancing digitization within the business and our strategic ownership by Prime Life Technologies, a Toyota and Panasonic company, puts us in the driver’s seat to tap into advancing technology in the construction sector.
Australian Construction Trends
Increase in Infrastructure Construction
The value of construction in the non-residential segment is continuing to grow. Investments in the non-residential sector focus on schools, hospitals, offices, warehouses, and hotels.
With government-led projects in the energy sector and transportation ramping up, the construction industry is optimistic about seeing a growth rate during the forecast period.
Improvement Strategies
Cost Management
Embracing innovative construction methods, such as prefabrication and BIM, can optimise processes and reduce costs. The adoption of sustainable materials and strategic procurement practices can also contribute to cost management.
Skills Training
Collaborative efforts between the government, educational institutions and industry bodies are key. Options include increasing apprenticeships, providing targeted training programs for mature-age workers and establishing pathways for international talent.
Regulatory Clarity
Regulatory reforms should aim to simplify and clarify regulations. Consistent enforcement will also help reduce uncertainty for businesses. Engaging with industry stakeholders and learning from successful regulatory frameworks in other countries can guide these reforms.
Despite facing challenges, the opportunities for growth abound. By investing in skills training, embracing innovation, and fostering strong relationships with stakeholders, the Australian construction industry can thrive and will play a vital role in driving economic growth and development.
Interested in finding out more about how we work or collaborating with us? Drop us a line today.
Queensland house and land opportunities offer a way into a market that is already building towards Brisbane 2032. You may have seen some of the headlines about the growth predicted in Queensland but the numbers behind those headlines are staggering.
A recent report by property experts RPM Group says Logan is a hot spot that needs to get growing. RPM’s SEQ Property Report for September 2023 is predicting 54,145 new dwellings will be needed in Logan by 2066. The current average is around 700 per year so the time to start building is now!
Homecorp has been fine-tuning a unique approach to Queensland house and land development for over a decade. Before we select locations for development we undertake in-depth research. Our assessment criteria includes looking at infrastructure investment as well as proximity to transport, shopping and health care amenities.
Queensland House and Land: Logan Reserve
Logan Reserve ticks all of these key boxes. This is why The Verge is one of Homecorp’s key house and land estates.
Is capital growth still up? Where should I buy? What should I buy?
These are questions people grapple with when investing. With Homecorp investment property, we research population growth, rental returns and vacancy rates as well infrastructure amenities so you don’t have to.
Homecorp compile reports on each suburb as well as the wider region before we choose to develop there. This forms part of our investment property selection criteria.
Major Factors To Consider When Investing In Property
Our experience tells us that when people are looking to invest in property there are three major factors that come into play:
Budget – usually determined by your bank
Location – when investing that means the right strategic location
The Right Property In The Right Strategic Location – and that’s where the Homecorp team can help you find your hot spot
Homecorp have been developing since 2004. We have seen summers come and go. We have enjoyed springs and found the best way to brave the winters. When you choose a Homecorp house and land estate to invest in, you get the wealth of our experience for free.
On average, Australian families spend 90% of their time indoors, with two thirds of this at home. At Homecorp sustainable building is a key consideration in developing inspiring communities of the future where people belong.
Where we live, both the structure and the community it is in, will always have a huge impact on our lives.
Homecorp began in 2004 with a single plot of land. Now we are one of the leading Developer Builders in Australia and are owned by Prime Life Technologies, a Toyota and Panasonic company. We are united by our passion for continual improvement and delivering better outcomes, homes and communities. Our strategic ownership is helping Homecorp develop inspiring communities of the future where people belong.
“良家”(A Good Home)
“A home is a place where our heart is, a place where we build character, a place of importance as we live our lives. I would like to build wonderful homes that nurture our living.”
Konosuke Matsushita – Founder, Panasonic
Strategic Ownership – Future Focus
Toyota Motor and Panasonic chose to merge housing businesses to form a joint venture. This company, Prime Life Technologies, is focused on developing connected homes and services for next-generation living.
Both companies see opportunity in the internet of things, or IoT, which connects home appliances, vehicles and other devices via the internet.
“A rapid change is expected in this business due to the accelerated deployment of IoT technologies in home appliances, household equipment, etc., as well as in the evolution in mobility.”
Toyota Operating Officer Masayoshi Shirayanagi
“It will be necessary to create cities with many partners… we want to enhance convenience.”
Panasonic Senior Managing Executive Officer Makoto Kitano believes merging businesses “will create unparalleled value in cities.”
This merger has a clear future focus. By combining the strengths of the two companies, the aim is to take advantage of the internet of things to explore and develop new housing applications.
“Toyota has been leading the mobility field, and Panasonic has long been serving lifestyle needs of people,” said Pansonic President Kazuhiro Tsuga in a statement. “We will put our respective strengths together to offer new value in everyday life.”
“I want to take on the challenge of providing a new kind of lifestyle.”
Akio Toyoda – President, Toyota
Toyoda added that he wanted to combine “the strengths of Toyota”, with its vehicle business and connected business, and Panasonic, with its home appliances, battery and IoT business”. The combination of all these elements will deliver enhanced competitiveness.
Toyota entered the housing business in 1975 and established Toyota Housing in 2003. They then acquired Misawa Homes in 2017. Shortly after this acquisition discussions commenced to join forces with Homecorp in Queensland.
In 2018 Homecorp announced strategic ownership by Prime Life Technologies through Misawa Homes Australia. Prime Life Technologies and Misawa Homes Australia, and then in turn Homecorp, are jointly owned by Toyota and Panasonic.
Homecorp unites with Toyota and Panasonic through Prime Life Technologies, a company created by the global giants to challenge the status quo in the construction industry.
United by a shared passion for people, community and continuous improvement, Homecorp, Toyota, and Panasonic bring together their collective expertise to deliver exceptional outcomes in property development and construction.
Homecorp develop spaces that inspire and empower because we believe everyone deserves a home that enriches their well-being.
At Homecorp, adding value to people’s lives happens on several levels but, first and foremost, we seek to develop inspiring communities and homes that deliver for owners today as well as owners of tomorrow.
Since 2004 Homecorp have continuously raised the bar with every project.
We have expanded from prestigious home construction in Queensland to be one of Australia’s most respected Developer Builders. Our journey has seen us deliver key urban and regional developments across Australia.
