$105M development launches on back of HomeBuilder demand
MORE housing lots are coming on to the market in Ipswich’s booming southern corridor to meet the demand created by the Federal Government’s HomeBuilder grant.
The first 63 homesites released in the first stage of the $105 million Aurora housing development in Deebing Heights will be completed and registered in September.
This will give buyers access to the $25,000 HomeBuilder grant.
The first homesites range in size from 362 sqm to 600 sqm, with prices starting at $186,000 and house and land packages available from just under $400,000.
Orchard Property Group managing director Brent Hailey said the project was expected to benefit from a growing demand for affordable homesites close to local job hot spots.
“Over the last decade, Deebing Heights has emerged as one of the hidden gems in the Ripley Valley growth area with schools, shopping and recreation facilities all just a short drive away,” he said.
“The new Deebing Heights State School has quickly gained a strong reputation since it was opened in 2016 and is just a few minute’s drive from Aurora.
“The suburb has been in the shadow of the larger Ripley area for many years, but its proximity to the Ipswich CBD, Amberley RAAF base and other employment hubs has established it as property hotspot in its own right.”
Mr Hailey said he was expecting strong demand with the HomeBuilder grant and the State Government’s $15,000 first homebuyer grant providing incentive for buyers.
“The HomeBuilder grant has been a strong driver of demand for new land since it was announced in June and we would expect that to continue right up to the deadline at the end of December,” he said.
Mr Hailey said Aurora was made possible by a $7.2 million Catalyst Infrastructure Program grant from Economic Development Queensland to undertake a major upgrade of Binnies Rd, Ripley, to provide access to the site.
The upgrade also provides access to the proposed $1.5 billion Ripley Town Centre.
“The upgrade of Binnies Road means we are able to open up a previously untouched part of the suburb which will allow us to create a private enclave of serene streets perfectly located close to everything,” Mr Hailey said.
Orchard purchased the 34-hectare site at 160 Dalys Road, Ripley, late last year from a group of investors for $11 million.
It now owns more than 2000 lots across five different projects in south east Queensland.
Mr Hailey said the company had long-held ambitions to acquire a site in the Ripley priority development area.
“The Ripley Valley is one of the largest urban growth areas in Australia and will eventually be home to a new city nearly as large as Toowoomba with a population of 120,000 people and 50,000 new homes,” he said.
“The PDA has been an incredibly successful since it was declared in 2010 and our expectations are that it will continue to grow for the foreseeable future.”