Young Buyers scoop up $3 Million in Land in Three Weeks.
Eligible first home buyers are able to access $40,000 in grants. Many are jumping at the chance in Ipswich.
A DEVELOPER has sold more than $3 million worth of new land sales in three weeks at an Ipswich housing development, with most of it being bought by young first home buyers. The $105 million 502-lot Aurora in Ripley was officially launched on July 31.
Developer Orchard Property Group has sold 15 homesites so far with about three quarters of those made to first home buyers looking to use the $25,000 HomeBuilder grant and the $15,000 First Home Owner Grant.
With construction underway, the 63 homesites in the first release of Aurora will be completed and registered in September to allow eligible buyers to access the two government grants.
Orchard managing director Brent Hailey said most of the buyers were local people under the age of 25 year wanting to get onto the property ladder for the first time.
“Most of the buyers are currently living in Ipswich or within the older parts of Ripley and see Aurora as a good opportunity to stay close to family in this catchment,” he said.
“We have also received good enquiry from second and third home buyers looking to trade up from their older home in the area into a new home.”
The first release at Aurora includes homesites ranging in size from 362 sqm to 600 sqm and prices start from $186,000.
House and land packages are available from $399,844.
First home buyers can access $40,000 in government grants and Mr Hailey said Aurora, as well as other developments in Ipswich’s booming southern corridor, was benefiting from a surge of interest.
The Federal Government’s HomeBuilder grant needs a contract to be signed before December 31 and
construction must start within three months of the contract date.
“When you look at the cost of renting in the area and compare that to the cost of buying, it is pretty easy decision to make even before the $40,000 in grants available to first home buyers,” Mr Hailey said.
“Low interest rates are making it very attractive for buyers to enter the market for the first time or trade up to something a little bigger and newer.
“Over the last decade, Ripley has emerged as one of the hidden gems in the Ripley Valley growth area with schools, shopping and recreation facilities all just a short drive away.”
SOURCE: QN Ipswich News