Queensland developers tackle housing crisis with unconventional homes for first home buyers

Renders for one bedroom terrace homes by Azure Group at its The Arbory development on the Sunshine Coast Three Queensland developers have announced plans to tackle housing affordability in the state’s most expensive markets, with homes starting from $700,000 and units set aside exclusively for first home buyers. Azure Group, Sherpa Group and Pikos Group are each introducing unconventional residential products that challenge the traditional divide between houses and apartments, while responding to growing demand for smaller, more adaptable and more attainable homes. From one-bedroom terrace homes starting from circa-$700,000 to purpose-built apartments reserved for local first home buyers and a proposed two-bedroom residence split across separate levels, the three developments point to a broader evolution in the Queensland property market. Azure Group, a company with a development pipeline of $2.5 billion across Southeast Queensland, is introducing one-bedroom terrace homes across selected projects, with prices starting from around $700,000. The offering is being marketed as a “more attainable entry point for first home buyers while also offering an alternative investment product in...