Media Release

13 May 2009

170 days - 200 Lots Sold
First Home Buyers Grant in Budget to Maintain Housing Confidence

The developer of one of the fastest selling housing estates in Melbourne that has sold 200 lots in just 170 days since releasing its first land in November 2008, has welcomed the continuation of the first home buyer grants to boost jobs in the industry.

'Shovel Ready' - Road construction underway at Sandarra

Buyer profiles at Sandarra over the past four months showed that 62% of purchasers were first home buyers and the other 38% of purchasers were mainly people who were trading up from established homes in the local region attracted by the current low interest rates. Links Living Limited has accelerated the construction of Sandarra, the $250 million 500 lot housing project in the south east of Melbourne, saying that it expects the first house to commence construction in October, with construction teams working six days a week. Stephen Head, Managing Director of Links Living, said that whilst some companies may be winding down operations in the current economic climate, Links Living has taken the view that it is an important time to commence new projects in Victoria such as Sandarra. Mr. Head said the construction of Sandarra will provide hundreds of jobs over the next three to five years with the multiplier effect of five hundred new homes flowing into all areas of the local economy.

"With predictions of greater unemployment in Federal Budget forecasts, every housing project is an important driver of economic development to maintain employment on the building and associated supply areas of housing.

"Over the past decade we have specialised in developing masterplanned residential estates including our signature golfing residential projects, Sanctuary Lakes Resort and Sandhurst Club. Between them they have generated around $1.5 billion in investment in Victoria and created hundreds of jobs each year.

"Sandarra was launched on 15th November 2008 where the first twenty residents camped out over five days to gain the block of their choice.

"With land prices from $162,500 affordability has been a major driving force in the ongoing sales rate of the project.

"The strong demand for land at Sandarra is also being fuelled by access to a guaranteed green environment through the provision of recycled water to every home for garden watering and public spaces making the project drought proof at a time when Melbourne's dams are at a historical low," Mr Head added.

Media Enquiries:
Ron Smith Corporate Media Communications Sandarra Mobile: 0417 329 201