As prices in Melbourne’s greenfield market steady,
developers producing a diversity of product
and price are reaping strong sales results
As prices in Melbourne’s greenfield market steady, developers producing a diversity of product and price in their masterplan to suit a range of buyers are reaping strong sales results.
Our Director of Communities, Peter Grant, pointed to the City of Melton in Melbourne’s western growth corridor as one of the most active LGAs in terms of sales, with 26 active estates offering a variety of stock and price points for first home buyers and upgraders in particular.
“Fierce competition in this growth corridor is driving diversity in lot size and price points,” he said. “This is underscored by strong population growth, which, in the City of Melton, was the third fastest growing Victorian municipality at five per cent during 2016 – 17”.
“With the established housing market moderating, buyers are taking their time and weighing up their options,” Mr Grant said, “Developers are being conservative about their product releases, they’re listening to what buyers want and are diversifying their product offering and pricing accordingly amid this price sensitive market.”
The assessment comes as RPM recently launched the Deanside Village masterplan community in the new suburb of Deanside, by developer Moremac.
Mr Grant said the development has recorded strong sales rates in the first stage release.
The 1100 lot estate comprises lots ranging from 221 sqm to 437 sqm and a competitive price point starting at $250,000.
Mr Grant said the location of Deanside Village is highly desired, with Caroline Springs and its existing infrastructure and amenity only a five minute drive away. This includes bus and rail links, and ample shopping, restaurants and entertainment.
An array of new amenity is also planned for the estate, including two sporting grounds, two new schools, a supermarket and retail precinct.
Deanside Village also offers immediate access to the Western freeway from the entrance of the estate. “This is a major lifestyle advantage,” Mr Grant said, “Even a five to ten minute drive just to get to the freeway can quickly stretch out during peak hour.”
Mr Grant also said 30 per cent of the total area of the estate is dedicated to parks, conservation areas and other green spaces. The estate also neighbours the Kororoit Creek conservation area, providing further greenery with ample walking and bike paths.
“As proven by the success of the first stage of Deanside Village, a range of lot sizes and prices, paired with the right location and amenities will sell exceptionally well,” Mr Grant said.
Deanside Village lots are now selling. Register your interest for at www.deansidevillage.com.au.