Land Run Out as
Last Stages of Sandarra Released
the 500 lot subdivision adjacent to the prestigious Sandhurst Club, released
in November 2008, is expected to be sold out by late November, just 12 months
after being released to the market.
underway at Sandarra
awareness of Sandarra as one of the fastest selling housing projects
in Melbourne has been driven to a large extent by word of mouth with
35% of land buyers citing they had been introduced to the project by
family and friends who had already purchased land.
this stage 400 lots have been sold at an average price of $187,000 valued
at around $75 million, making Sandarra one of the most popular and sought
after residential projects in Melbourne.
Kerr of Real Estate firm Oliver Hume said the project has been extremely
popular with all home buyers including first, second and third home
Kerr said land sold ranged from $160,000 for a 400 m2 lot to $215,000
for a 592 m2 block with the average price being $187,800 and the average
size of 570 m2 which represented extremely competitive pricing in the
local land market.
land sales have also been generated by people moving quickly to meet
the Government deadlines for first home buyer grants and the urgency
for people to obtain their land and arrange a builder to qualify for
the $32,000 of combined Federal and State home buyer grants. The Sandarra
buyers' sentiment shows 35% of land buyers intend to commence construction
within three months and 44% within six to twelve months.
construction of Sandarra with the appearance of kerb and channel, roadways
being formed and the installation of services such as water, recycled water,
sewerage and hi speed broadband is providing a sense of anticipation amongst
land buyers with the first houses expected to commence construction in November/
December has also stimulated demand.
"95% of purchasers
intended to live at Sandarra and only 5% were investors."
Ms Kerr said
the location of the project was the top reason cited by 35% of purchasers
commenting on easy access to EastLink for travel to work, close proximity
to schools, shopping centres, the beach and regional employment centres in
the south east and east of Melbourne.
"In the current
economic climate where affordability, quality and future capital gain are
three major drivers for home buyers, Sandarra has a solid base of a quality
location, access to recycled water to ensure a green environment, access to
optic fibre communication and many other facilities for families such as schools.
all land purchasers in Sandarra will move from other suburbs close by including
Patterson Lakes, Skye, Frankston, Chelsea Heights and Edithvale.
contact Trudi Kerr on 9684 8144.
Ron Smith Corporate Media Communications Sandarra Mobile: 0417 329 201