RESIDENTIAL PROPERTY

Cedar Woods responds to increasing buyer demand

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A THIRD release from Cedar Woods’ Greville community in Wooloowin has been brought forward after the success of the first two stages.

The new release will include 10 new terrace homes, priced from $809,000.

“With just ten terrace homes in the third release, there is limited opportunity in this new release at Greville, and within the broader Wooloowin area, and any new supply is being snapped up quickly due to increasing buyer demand,” said Peter Starr, development director at Cedar Woods.

Sales have been surging in Cedar Woods’ $180 million masterplanned community, especially amongst local buyer, since the group appointed Condev Construction to complete the works. With early works recently commencing.

Greville saw a $21.5 million sales rush in the first two stages, after its launch in September of last year.

The community, located just 5km from the Brisbane CBD, will also include apartments and heritage residences, as well as a 4,000sqm on site parkland.

“With construction of the first release  imminent, buyers are lining up to secure a brand new terrace home within close proximity to the CBD, so we have made the decision to bring forward release three,”

The median house price in Wooloowin has hit $935,000 according to CoreLogic, with growth in the suburb increasing by 15% in the past 12 months.

“Releases one and two have been popular with mostly local purchasers who love living in Wooloowin and want to reinvest in the neighbourhood, or who are downsizing from surrounding suburbs.”

The new releases will use one of the communities most sought after floorplans, the Miller. This floorplan places all living and entertaining areas on the ground floor, as well as large courtyard. While upstairs includes three bedrooms and a multipurpose room which could be uses as a fourth bedroom or as a study.

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