HomeBuilder grant results in rush for affordable land
DEVELOPER Sekisui House Australia has brought forward the release of more land at its $2 billion masterplanned Ipswich development as a result of a surge in buyer demand due to the Federal Government's HomeBuilder grant.
Since the $25,000 grant was announced at the start of last month, its Ecco Ripley development has seen a 275 per cent rise in sales compared to the same time last year.
Enquiries have also grown by about 30 per cent.
It is a similar case for Defence Housing Australia's Torhaven development in Deebing Heights.
The development's fifth land release, for the 'Lighthaven' neighbourhood, is ahead of schedule.
Sekisui House project director Taku Hashimoto expects demand to remain strong thanks to the government stimulus.
"When the HomeBuilder grant is combined with the Queensland First Home Owners' Grant, buyers have the opportunity to access up to $40,000 towards their new home and this is driving additional sales growth," he said Hashimoto said.
"In June alone, close to 70 per cent of our Ecco Ripley buyers took advantage of both grants, which has resulted in the accelerated fifth land release.
"We anticipate a quick turnover of this new land, being located in one of the most sought-after sites at Ecco Ripley with some blocks providing excellent views across the landscape towards Ripley Town Centre and the Flinders Ranges.
"The lots also have the added benefit of proximity to Pebbles Park and natural bushland."
There are currently 33 lots available ranging from 264 to 692 square metres, with prices starting at $172,000 and land registration expected by October this year.