Media Release

22 January 2009

New Melbourne Housing Project Defies Economic Downturn
100 Blocks Sold in 60 Days for $18 million

Sandarra, a new 500 lot housing project in the south east of Melbourne, is defying the economic downturn selling on average 1.5 blocks of land every day over the past 60 days.

Sandarra entry

Launched on 15th November 2008, where the first twenty residents camped out over five days to gain the block of their choice, Sandarra has continued to sell at record rates during the economic downturn. Sandarra also gained wide publicity when ConnectEast offered one of its blocks as a prize to encourage people to use EastLink in a Road Lotto promotion. Developers of the project said Sandarra, part of Melbourne's only drought proof suburb Sandhurst in the City of Frankston, is one of the fastest selling housing projects in Victoria with 20% of the 500 lots already sold.

The project this week has received a major boost with the commitment of a number of Melbourne's top building companies to be involved in the $13.25 million Sandarra Display Village, featuring 29 specially designed homes.

Paul Ciprian from Oliver Hume said whilst the initial release coincided with the announcement of the tripling of the first home buyers grant, the majority of purchasers were people who were trading up from established homes in the local region attracted by the current low interest rates.

"With land prices from $160,000 and house and land packages available from $325,000, affordability has been a major driving force in the ongoing sales rate of the project."

Mr Ciprian said given the demand for land, a new release of a further 22 lots is being released this week as the sales momentum is forcing the stages to be brought forward.

"The strong demand for land at Sandarra is also being fuelled by a range of unique advantages for future Sandarra residents.

"Access to a guaranteed green environment through the provision of recycled water to every home for the watering of gardens and public spaces making the project drought proof at a time of tightening water restrictions is one of the major indicators for the reason given by land buyers to choose Sandarra.

"Sandarra's location, within minutes of Port Phillip Bay, just a kilometre from EastLink's Thompsons Road entry and exit ramps, places Sandarra within fifteen minutes of the City of Frankston, shopping centres and the major employment corridors of the south east of Melbourne.

"The Sandarra layout recognises community safety with limited entry and exit points on the project eliminating any through traffic which is a common problem in many other estates and established suburbs.

"Sandarra also provides residents with a prime location for close by quality educational facilities.

"In the current economic climate where affordability, quality and future capital gain are three major considerations for home buyers, Sandarra has a solid base of a quality location, easy accessibility and being surrounded by lifestyle facilities ranging from Port Phillip Bay, boating facilities and golf courses.

"It also places people within easy reach of prime holiday locations for day trips such as Rye, Rosebud or Sorrento or boating facilities at Patterson Lakes just minutes way."

Land buyers are also being attracted by the fact Sandarra will feature a Home Owner Association that will have collective control over the maintenance of the public areas and streetscapes to ensure they are well maintained to protect the value of properties and ensure a quality living environment.

Building design guidelines will also enhance the quality of Sandarra's visual appearance and protect the quality of the residential environment.

Sandarra 500 Lots
Land Release 5
22 lots available 460 sq metres average size $180,000

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