Values rise in Toowoomba
CONSOLIDATED Properties’ Sanctuary Rise Toowoomba land subdivision has hit the market with a bang, posting more than $6.5 million in sales in the past three months.
Buyers have snapped up 54 lots in the Wilsonton community, with only 14 remaining, from$149,950.
Consolidated Properties executive chairman Don O’Rorke said the project’s unprecedented success had seen almost 80 per cent of stage one go to contract. Hewas confident the remaining homesites would be taken up by those looking to get in on the ground floor of the community.
“The level of buyer demand for property here at Sanctuary Rise vindicates our decision to develop in Toowoomba – the market is becoming increasingly thirsty for new product as the mining and resources boom in the nearby Surat Basin continues to underpin the market,” he said.
“Since the debut of the first release, we have seen steady price increases for land at Sanctuary Rise, which confirms the strength of the market and the confidence in the project.
“As construction progresses values will continue to increase, so those whowant to take advantage of our current prices and have a wider variety of choice in terms of lot size and location need to act now.”
PRDnationwide sales agent Kim Taylor, marketing agent for Sanctuary Rise, said the project offered good value for purchasers.
“Sanctuary Rise delivers what buyers have been waiting for – a brand new, masterplanned community that offers sizeable lots within proximity to amenities like schools, shops and transport,” he said.
“It’s the first residential land community in Toowoomba to be marketed off-the-plan – so that means buyers have had a head start, with the opportunity to secure rawl and at base value, rather than at the stage where construction is finished and mark-ups have already occurred.
“Sanctuary Rise is proving particularly popular with young couples and families to date, who have been lured by affordability and lifestyle, bordering more than 50ha of open space and parklands to give the whole community a natural look and feel.”