Planning Report IDAS Forms Cover letter, Owner's consent, Appendices 2- PLM minutes & 3 - Economic Needs - Email 1 of 4 MCU16/0153 & REC16/0041

The vacant land market within Peregian Beach is significantly supply constrained and supply led,
with the release of the Peregian Beach estate delivering to the market stock during 2015 and
2016, and subsequent moderating pressure on median sales prices for vacant land products.
However, there have been limited opportunities for land release within the Peregian Beach area,
which will continue to feature within the residential property market in Peregian Beach.

The REIQ Market Monitor defines Noosa Shire as a “Tight” rental market, with a 2.4% vacancy
rate as at the June Quarter 2016, indicative of more limited choice in housing availability in Noosa
Shire generally.

The proposed development will introduce new, modern residential stock to Peregian,
contributing to improved choice and access to the Peregian Beach Village and its relative lifestyle
affordability. Ongoing lack of residential development will continue to flow through to tighter
residential markets in Noosa and Peregian Beach, with limited choice in residential development,
affordability of lifestyles and living arrangements.

5.2    POPULATION AND HOUSEHOLD GROWTH

Between 2005 and 2015, the population of Noosa Shire increased from an estimated 47,635 in
2005 to 53,515 persons in 2015; or by less than 6,000 persons at approximately 1.2% per annum
over this period. The Peregian Beach-Marcus Beach locality by comparison increased by some
1,060 persons over this same period at approximately 2.7% per annum; representing 18% of all
new residents within the Noosa Shire over the decade.

Population projections prepared by the Queensland Government Statistician’s Office (QGSO)
estimate that population growth will continue within the Noosa Shire, albeit at the very modest
rate of just 0.7% per annum between 2016 and 2036 to include some 61,940 persons by 2036.

The Peregian SA2 is projected to include an additional 2,700 persons between 2016 and 2036,
much of which will be accommodated within Peregian Springs. The Peregian Beach Study Area
with limited opportunities for residential development, is anticipated to have a growth profile
more closely aligned with the Noosa Shire.

Building approvals for the Peregian SA2 included more residential dwelling approvals than the
entire Noosa Shire through 2015/16, however the SA2 includes the Peregian Springs estate, with
data at the Peregian Beach locality not separately available. This reflects more limited
development in Noosa Shire and Peregian Beach in itself, again limiting choice for those seeking
to downsize and remain within their locality, to enjoy the Noosa and Peregian lifestyle or
upgraders seeking a more modern living environment.




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