14 Feb Developer reports demand for land is still there

(Originally posted in Quest on the 8th of February, 2017 by Reshni Ratnam)

The demand for homes in Brisbane’s southwest corridor is still on the rise, while a flooded unit market is showing signs of slowing.

Developer Penfold Property Group has significant greenfield land holdings in Doolandella, Heathwood, Pallara and Ellen Grove which will see in excess of 450 homesites developed in the area to meet this demand.

Managing Director Marc Wilkinson said the company had seen a rise in the number of pre-sales for land in its Hampstead Heath project prior to construction in the last quarter of 2016.

“To date, 72 percent of sales have been made off the plan, which indicates the confidence of buyers in the market and undersupply of land in the Brisbane City Council area,” he said.

Penfold Property Group recently sold all 26 blocks in their Skyline release; the sixth stage of their Hampstead Heath project in Heathwood.

Skyline was sold within four weeks of release for a combined sales price of $7.4 million.

For those wanting to enter the property market, there are a variety of homesites starting from $225,000 and home and land packages from $380,000.

The family-friendly suburb has seen significant growth owing to its practical and central access to Forest Lake conveniences.

Mr Wilkinson said construction had already commenced on the sold out stage.

He said residents would enjoy a high-level streetscape and range of exemplary homes, adding value and character to the area.



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