Sales strong in sunshine state

2 April 2021

Cedar Woods’ Queensland communities have posted a positive start to the year, with strong sales across both the masterplanned Ellendale community and the Greville urban village, prompting the early release of new stages to keep pace with demand.

Ellendale, located in Upper Kedron just 12km from the Brisbane CBD, has recorded a significant boost in sales since January, led by a mix of local and interstate owner occupiers, mostly upgraders.

Buyers recognise that Ellendale presents a unique opportunity to build a new home close to the CBD in a tranquil community, surrounded by bushland.

The established suburb features an array of amenity, which has recently been enhanced with the opening of the state-of-the-art C&K Upper Kedron Childcare Centre, supporting young families making the move to the fastgrowing area.

Demand for Greville in Wooloowin has also been high, with stage two townhomes now released and selling quickly.

Work has begun on civil construction and leading Queensland builder, Condev Construction, has been appointed to commence building works in the coming months.

Preparations are also underway for the launch of the first stage of boutique apartments at Greville in mid-2021. Francis apartments are set to offer city views plus all of the lifestyle and locational benefits that Greville has to offer.

Cedar Woods’ Development Director, Peter Starr, said 2021 was shaping up to be one of the busiest to date for the team, with the level of enquiry for both Ellendale and Greville continuing to grow.

“The sales success at Ellendale and Greville is testament to the quality and location of both communities” he said.

“The Commonwealth Bank is tipping Brisbane’s home values to rise 16.6 per cent over the next two years, bolstered by high interstate migration, with Corelogic data showing 25,000 people have relocated to Queensland in the past financial year - 90 per cent above the decade average.

“The influx of new residents has pushed rental vacancy to its lowest level since March 2013 and with record low interest rates and government incentives, more people are realising it makes sense to buy.”