The latest figures from the Real Estate Institute of QLD (REIQ) revealed that Stockland’s residential communities across greater Brisbane are considerably more affordable than the average established home in the same areas.
The REIQ revealed Greater Brisbane’s median house price rose almost 2.6 per cent in the three months to December 2016, taking the median house price to $513,000.
However, Stockland’s communities at Pallara, North Lakes, Stone Ridge at Narangba, Sovereign Pocket at Deebing Heights, and Vale at Holmview have all offered new home alternatives for thousands of dollars less than that figure.
Home and land packages at Stockland communities start at just $308,466 for a three-bedroom home at Sovereign Pocket at Deebing Heights, which is $204,534 below Greater Brisbane’s latest median house price.
Even within the Brisbane local government area, house and land packages at Stockland’s Pallara community, just 19km from the CBD, are priced at just $454,870 which is $200,130 below Brisbane LGA’s median house price of $655,000.
“The $10,000 increase in the First Home Owners’ Grant to $20,000 means that first home buyers who purchase a house and land package before June 30, 2017 could be paying as little as $288,466 for a brand new home,” Stockland Queensland General Manager Kingsley Andrew said.
“Buying new also gives customers the opportunity to design and tailor their dream home to suit their individual needs.
“All of our new homes in Stockland residential communities feature the latest architectural designs based on modern living – often with open plan kitchen and dining areas, integrated lounge rooms, separate parents’ retreats and kids’ entertainment rooms.
“By buying a new home, customers can choose exactly what they want in their new home: how many bedrooms, bathrooms, whether they want a single or double garage, rather than trying to retrofit their family into a home someone else built for a different era, and a different generation 30, 50 or 100 years ago.”
Brand new homes generally have lower maintenance costs than established houses and new homes must comply with modern design codes and sustainability standards that reduce energy bills and the impact on the environment.
“There is often a false economy in buying an older established home with a view to renovating it to suit the demands and lifestyle needs of modern living,” Mr Andrew said.
“It is well documented that the cost per square metre of renovations usually far exceed the cost per square metre of building a brand new home.”