23 June 2020
Three homesites are all that remain in the masterplanned community of Sandstone Lakes near Bribie Island after recent government grants caused a land grab!
Developer QM Properties announced the final release of large sites just before the Federal Government announced details of its $25,000 HomeBuilder grant to boost the construction industry, which has been hit by the COVID-led economic recession.
The rush on sales led to 12 properties selling in one week, bringing to 25 the total number of sales in the past two months.
“Property has been walking out the door,” QM Properties general sales manager Damien Ross said.
He said the remaining blocks, two of 600sq m and one of around 400sq m, were not expected to last more than a few days.
“There is no other land in that area, these are the last blocks in the community.”
Since the development began more than 10 years ago, some 700 homesites have been created in masterplanned community which is situated in the Moreton Bay town of Ningi as part of the gateway to Bribie Island, 45 minutes north of Brisbane.
Two years ago it was Baby Boomers buying in to the masterplanned community of Sandstone Lakes which is part of the mainland gateway to Bribie Island, north of Brisbane.
But with smaller blocks becoming available in the last land releases, local first-home buyers, who may be eligible for more than $40,000 worth of grants under various government packages, have recorded the largest increase in interest.
Mr Ross said young buyers were choosing to buy in or close to the neighbourhoods they grew up in, to stay connected to family, friends and the shops, schools and restaurants they are familiar with.
“It’s reassuring for any buyer to purchase a property in an area they know well, and we are seeing this trend become more pronounced with first time buyers,” Mr Ross said.
“Generally speaking, it also means they have a better understanding of what properties in that area are worth and what is fair value for money,” he said.
First-home buyers Martine Felschow and Curtis Court grew up on Bribie Island and still have family there.
Deciding it was more affordable to buy land and build than to rent an existing property, they are among the latest to invest in the Sandstone Lakes community surrounded by 46 hectares of natural melaleuca forest with a recreational lake and canals.