First Homebuyers Drawn To Boutique Developments

WHEN busy first homebuyer Simone Fernandes arrived in Brisbane from New Zealand just over one year ago, she knew she wanted to purchase a private, secure apartment – but most importantly, it had to be on the fast track to completion.

“I knew I was looking to move into somewhere fast. It had to be new, beautiful but also something that would be completed soon. I’m busy; I couldn’t wait around for years for something to be constructed,” the 21-year old said.

Enter the recently sold out ‘Allure on Ludwick’ development at 58 Ludwick Street, Cannon Hill, a boutique project by Brisbane based owner-operator developers Your Style Homes, situated just under 10 kilometres from Brisbane’s CBD.

The sold-out Allure on Ludwick development“I had been looking for a residence for four months; I was looking at two other developments close to Allure on main roads, and also some off-the-plan high rises, but then I saw Allure.

“Immediately, I was drawn to Allure because it was tucked away – it was the only inner-city development in that area that was removed from the noise of a main road, it had boutique charm, with a great, open floor plan, modern design and excellent security,” Ms Fernandes said.

The sold-out Allure on Ludwick developmentYour Style Homes recognised the potential for smaller boutique developments in the area, and positioned themselves well in their latest quality project at Cannon Hill which has 100 per cent sold out with renters currently moving in.

Your Style Homes managing director Dean Parker said the sold out residential development addressed all buyers’ wish lists in a suburb with a low suburb vacancy rate of just 1.22 per cent.

Your Style Homes managing director Dean Parker“Our spacious, high quality one bedroom apartments started at $330,000 - well below the $400,000 to $499,000 price point, considered the “sweet spot” for a one bedroom Brisbane apartment,” he said.

Mr Parker said he’s noticed an upswing in young owner-occupiers trending toward smaller boutique complexes.

“Boutique developments typically have lower body corporate levies compared to high rise equivalents, they are easier to maintain,” he said.

“Our purchasers wanted high quality living and they found it at Allure. They love that the project is tree-lined with lots of greenery, with pathways and shops metres away, and nestled in a quiet street, away from main roads.

“The offering really resonated with the young owner-occupier market,” Mr Parker said.