Demand spikes for land in Brisbane as Cedar Woods secure sales at Ellendale land release
Buyers have snapped up all 14 blocks on launch in the latest Ellendale land release from Cedar Woods, as the Brisbane market continues to gather steam.
The lots, ranging between $399,000 and $643,000, sold out following a two-week expressions of interest campaign. There were around 150 interested buyers in the small lot release.
The quick-fire sales come after CoreLogic revealed Brisbane house prices continued their upward trend in July, rising by two per cent for a total gain of 15.9 per cent in the past 12 months on the back of sustained high demand.
Cedar Woods Development Director Peter Starr said Ellendale continued to be a highly sought-after lifestyle offering.
“The sellout again signals the strength of the Brisbane market and the appeal of the Ellendale community,” Starr said.
“We decided to embark on an expressions of interest campaign for the first time for this new release, we considered this the fairest way to manage the significant demand we’ve been experiencing for new land in Ellendale.
“The process meant all interested buyers had the opportunity to purchase, by submitting an offer on their top three lots.
“We wanted to avoid buyers feeling like they needed to go to great lengths, such as camping out, to secure a lot and believe this method provided the most measured and sensible approach.
“The feedback we received from purchasers about the process was overwhelmingly positive and we are thrilled more families can now start planning their dream homes here at Ellendale.”
Located just 12 kilometres from the Brisbane CBD, Ellendale features large homesites and tree-lined streets nestled amongst 91 hectares of nature corridors and recreation space.
Residents have access to landscaped green spaces, a parklands and a playground, which are linked by a series of walkways and bikeways. Starr said the new land release was superbly located, with beautiful bushland aspects.
“Families have all they need for the ideal lifestyle close by, from parklands and expansive playgrounds with state-of-the-art play equipment right through to walkways, bikeways and multiple places for barbecues at lookouts with scenic views,” he said.
“There’s also a newly opened C&K childcare in the community and a range of schools, parks, shops and public transport in easy reach.”
Starr said Cedar Woods was working to bring forward new stages of land as soon as possible, to meet the continued demand for homesites at Ellendale and across Brisbane.
“As buyers become more lifestyle focused following COVID-19, we are finding more people looking to become part of leafy communities within commuting distance of the Brisbane CBD, which is making Ellendale a popular choice,” he said.
“We already have a waiting list of interested purchasers for our next release, so the best way to avoid disappointment is to register your details now, so you are among the first to hear when new land is available.”