Construction of the first of more than 300 homes in a subdivision north of Brisbane is about to get under way after site sales totalling more than $33 million.
Builders will soon be on the tools in the first stage of Cedar Woods Properties’ Sage Burpengary greenfield development, where 49 sites have settled and civil works completed.
The home sites changed hands for an average of $350,000 each.
Stage two of the subdivision also has sold out with its 54 blocks due to settle in March.
Meanwhile, stage three has been launched to market with the first settlements expected in May.
Sage is a masterplanned community being built on a 29ha parcel at Hunt Road, Burpengary, 39km from the Brisbane CBD.
On completion it will have 329 residential lots as well as an 8000sq m park, and a 7ha green spine is planned to run through the community.
Moreton Bay Regional Council mayor Peter Flannery said the subdivision was providing much-needed housing for the area.
“With more and more people attracted to our unique combination of affordable living, enviable lifestyle, employment opportunities, education and transport choices, City of Moreton Bay is thriving with 240 new residents moving to our region every week,” he said.
Cedar Woods Queensland development director Blair Britton said the first two stages of Sage had a strong response from buyers and construction of the first homes was expected to start in February.
“We know from Urbis research that both population and house price increases in the Burpengary region are outpacing those of Greater Brisbane and that’s because of the employment and lifestyle opportunities available as well as strong demand for relatively affordable housing which we’re seeing with stage one and two of Sage both selling out,” he said.
“At the same time there are plenty of new amenities being constructed or in the planning stages such as Morayfield Marketplace and a new ambulance station so all that creates a compelling proposition for prospective buyers.”
Britton said Cedar Woods was also injecting $11 million into external works to improve community infrastructure as part of the construction of Sage.