SUB­URB PROVES POP­U­LAR

The Courier-Mail - Home - - STRONG DEMAND - SAMANTHA HEALY

Con­struc­tion of the 28 bou­tique town­houses has not even started yet but al­ready 24 have been sold off the plan.

Mo­saic Prop­erty Group has com­menced civil works at its Sil­ver­gum de­vel­op­ment in Ever­ton Park, a sub­urb de­scribed by the de­vel­oper as an emerg­ing “blue-chip” lo­ca­tion.

One of Bris­bane’s most tightly-held sub­urbs, Ever­ton Park is un­der­go­ing a trans­for­ma­tion, with town­houses and unit com­plexes ris­ing be­side fam­ily homes. Within 10km of the Bris­bane CBD, Ever­ton Park has wellestab­lished parks, shop­ping and en­ter­tain­ment op­tions, is close to pub­lic trans­port and good schools, and is con­sis­tently in high de­mand.

Mo­saic Prop­erty Group man­ag­ing direc­tor Brook Mon­a­han said the com­pany chose their mar­kets care­fully.

“Ever­ton Park may be an older sub­urb but its de­mo­graphic is quite young, in­clud­ing fam­i­lies and pro­fes­sion­als. Ac­cess to the city is also a prime con­sid­er­a­tion,” he said. “All these el­e­ments pro­vide Ever­ton Park with its grow­ing stand­ing as a blue-chip sub­urb. The qual­ity of our prod­uct aside, the sales suc­cess we have achieved at Sil­ver­gum is prob­a­bly the best in­di­ca­tor of the sub­urb’s ap­peal.”

The me­dian house price in Ever­ton Park has grown by 28 per cent in five years and was $585,000 in July, ac­cord­ing to Core­L­ogic.

On av­er­age, res­i­dents hold on to houses in the area for 13.8 years, and when they do hit the mar­ket they are usu­ally sold within 18 days.

Mr Mon­a­han said the com­pany con­sid­ered highly sought-af­ter sub­urbs with lim­ited or con­strained sup­ply to be “blue-chip lo­ca­tions” from a de­vel­op­ment per­spec­tive. “We avoid the in­ner 2km ra­dius of the Bris­bane CBD as a gen­eral rule due to the high sup­ply of in­vest­ment grade apart­ments,” he said.

The Sil­ver­gum de­vel­op­ment is ex­pected to be com­pleted by Septem­ber next year. Three­bed­room town­houses start from $580,000 and four-be­d­rooms from $650,000. They range in size from 238sq m to 337sq m.

Bou­tique town­houses at Mo­saic Prop­erty Group's Sil­ver­gum de­vel­op­ment at Ever­ton Park are in de­mand, with 24 of the 28 homes sold off the plan.

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