Buyers flock to 'green change' at Ellendale community
8 October 2021
The latest land release at Cedar Woods’ Ellendale community in Brisbane sold out in record time, highlighting strong demand in the city’s residential market.
The 14 lots, ranging in price from $535,000 to $680,000, sold quickly following a two-week Expressions-of Interest campaign.
This campaign coincided with a price surge in Brisbane’s Upper Kedron, with the median house price increasing by more than 16 per cent over the past year. This was the strongest growth seen over the past decade according to research from CoreLogic. This surge was driven by strong interstate migration and a steady increase of local owner occupier buying activity.
Ellendale is meeting demand from buyers looking for a ‘green change’ due to its premium homesites and tree-lined streets.The estate is nestled amongst 91 hectares of nature corridors and recreational areas alongside the South D’Aguilar National Park.
The community’s environmental focus was recently recognised through receiving the prestigious Australian Institute of Landscape Architects Award for Land Management. The Ellendale community was awarded for its incorporation of sustainable design practices and ongoing maintenance of the local environment at a ceremony earlier this year.
Cedar Woods Development Director, Peter Starr said the community, where more than half of the approximately 900 homesites have sold so far, continues to be highly sought-after for its lifestyle offering.
“The sellout signals the strength of the Brisbane market and the appeal of the Ellendale community,” said Mr. Starr.
“We decided to embark on an Expressions-of-Interest campaign for the first time as 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 preferred lots. We had overwhelmingly positive feedback from buyers during this selling period.
“We expect demand to strengthen, especially with a shortage of land in green, family-friendly suburbs that are close to the CBD.”
Cedar Woods is on track to meet the strong demand for Ellendale by bringing around 100 lots per year to market, with a combination of land sizes and product to cater for a range of home buyers.
For more information, or to register your interest please visit ellendale.com.au