5 February 2009
Lower interest rates, government incentives, rising rents and a new summer sale launch have resulted in a 50% increase in activity at Gladstone's largest new residential land development, Emmadale Gardens.
Citimark Properties, the developer of Emmadale Gardens, reported an increase in both sales and enquiries over the December 08 and January 09 period with over $2million in sales achieved and 60 new enquiries over a notoriously slow Christmas holiday period.
Geoff McWilliam, Director of Residential Land at Citimark Properties said the market is showing positive signs at the more affordable end with sales turnover noticeably improving in the under $450,000 house and land price range.
Nationally, loans for new home surged by almost 10% in November last year as owner-occupiers - led by first home buyers - attracted by improving affordability increased their share of overall loans to a seven-year high of 23.6% - up from a recent low or 16.4% in March last year.
This is a classic recovery encouraged by Federal and State Government incentives including the Federal Government's First Home Buyers (FHB) Grant and the State government's stamp duty savings (introduced in mid 2008).
"But it is a very different market compared to 12 months ago - buyers are more conservative and searching for tangible value,” said Mr McWilliam.”
"Our increased activity has been achieved by really targeting this market, through the development of a Sizzling Summer Sales Campaign comprising new competitive house and land product under $400,000 and with immediate savings up to $51,000 per package.”
"We needed to respond to the market and the existing conditions. First home buyers are a very strong market and this is honestly the best deal we have offered in years.”
"Affordable segments of the property market will offer the best opportunities for capital growth and there is a real opportunity for first home buyers to take advantage of this right now at Emmadale Gardens.”
Mr McWilliam said the Emmadale Gardens' Summer Sale Campaign offers a range of house and land packages under $430,000. The sale program also offers additional savings of up to $51,000 including $20,000 land rebate, $10,000 builder's value package and the first home buyers grant of $21,000.”
The Campaign is a limited offer and will run until 28 February 2009.
"Emmadale Gardens offers exceptional value for money as it is well located with large areas dedicated to recreational facilities, such as the playground, huge central lake and walking trails. We have people from all over Gladstone coming out to Emmadale Gardens after school and work during the week, and over the weekends to take advantage of the open spaces. There's nothing else like it in Gladstone,” said Mr McWilliam.
"The display village will officially open in late February and there are a number of new display homes already open for inspection that are attracting a lot of attention.”
The Emmadale Gardens information office is located in a new display home on the Cnr Koowin Dr & Grasstree Cres, Kirkwood (directly off Kirkwood Road). It is open 10am to 5pm from Saturday to Wednesday. The office can be contacted on 1800 776 658 or via email. Further information is available at www.emmadale.com.au.
Geoff McWilliam is Vice President of the UDIA Gladstone Chapter and the Director of Residential Land with award winning Queensland developer, Citimark Properties. Geoff is available for comment on the current housing market environment. Work: 07 3002 6200 Mobile: 0418 876 141
Media Contact:
Megan Barron, Citimark Properties
Mob 0408 744 046
Ph 07 3002 6200
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