Wednesday 18 October 2006

Buyers rush Devine's Crestmead community

Who said the Brisbane housing market is off the boil? Certainly not Devine, which has sold all 57 lots in its 'Parkside Estate' at Crestmead in just one month.

Located at 311-329 Chambers Flat Road in the Logan Shire, 34km from the Brisbane CBD, the 4.25-hectare estate has reaped around $8.6-Million in land sales for the pro-active developer.

Devine paid $2.8-Million for the site in November 2005.

Prices at 'Parkside' ranged from $139,900 for a 360sqm block of land, to $349,900 for a home and land package on a 1,000sqm block.

"Crestmead is a suburb in great demand, particularly among young families, and it is growing by around 10% a year," said Glenn Moat, Devine's Queensland Sales Manager.

"We were delighted, but not overly surprised, by the popularity of 'Parkside'. Buyers included first and second home purchasers, empty nesters, locals trading up, as well as investors looking to take advantage of the suburb's healthy rental returns and prospects for capital growth."

Bordered by major roads, Crestmead offers easy access to the Brisbane CBD and the Gold Coast by road, rail and bus, while Logan City has significant employment opportunities with more than 7,000 businesses.

Research shows Crestmead has a young demographic, with one-third of the population under 15 years old.

"'Parkside' will be an ideal place to raise children," said Mr Moat, who expects the first residents to move in by December. "Within Crestmead are 25 primary schools and 10 high schools, a vast array of parkland and even a pony club."

Mr Scott McIntosh, Queensland State Manager for Devine Housing and Land, said: "We are continuing with our strategic plan of targeted land acquisition and the expansion of our historical core housing business, which has been so successful for the company over many years. With the recently announced acquisition of our Redbank Plains project, we now have nine master-planned communities underway in South-East Queensland alone."

Details about Devine's many estates are available on 13 24 66, or www.devine.com.au.

Released by: Devine, 3 Westmoreland Blvd, Springwood, Queensland 4127
Contacts: Paul Nash, National GM Housing & Land, on (07) 3380 2500, (0439) 730 424
Glenn Moat, Queensland Sales Director on (07) 3380 2584, (0408) 696 605
Scott McIntosh, Queensland Manager, on (07) 3380 2500

Prepared by: Barry Hyland, PR Plus, Level 1, 272 Pacific Highway, Crows Nest 2065
Ph: (02) 9439 9191, (0412) 354 992. Email: barry@prplus.com.au