Thursday 26 October 2006

A suburb named after its abundance of wattle trees is becoming known for spectacular growth of another kind - housing growth.

Burpengary, some 34km north of the Brisbane GPO, is a stellar performer in real estate terms. Its median house price increased on average by 17.6% per year from 2001 to 2005.

Last year, despite a slowdown in the overall Brisbane property market, Burpengary still grew by 4.5%.

Australian Bureau of Statistics show that more than 10,000 new residents moved into the Burpengary-Morayfield area in 2004 and 2005. Demand for accommodation is far outstripping supply, and new homes in Burpengary are scarce.

Not surprisingly, rents are strong, providing investors with average yields of around 4.9%.

Burpen-Gar means 'land of the golden wattle', and a new housing estate at 24-54 Pitt Road pays homage to the area's history.

'Wattle Park' marks the re-entry of Devine to the property market in Brisbane's north. It is an intimate estate of just 56 lots, providing a human-scale neighbourhood rather than some of the more impersonal, mass developments.

New plantings and different varieties of wattle are thriving in the reserves and public places of the 7.5-hectare community.

'Wattle Park' integrates the conveniences of modern living into a natural semi-rural setting, and is helping to meet some of the demands created by the suburb's insatiable appetite for housing.

Devine reports strong sales, with 22 lots snapped up quickly. Remaining is land from $162,900, and house and land packages, including landscaping, from $289,900.

The average size of blocks at 'Wattle Grove' is a substantial 700 square metres, and a large park forms the centrepiece of the leafy estate.

"All the roads, street lights and services are in place, and people can see what an attractive estate this will be," said Richard Sterry, Devine's SE Queensland Regional Sales Manager.

"The main demand has come from younger first home buyers attracted by the affordable prices, although we have had second home buyers taking advantage of the potential of this emerging suburb."

Devine's residential communities incorporate landscaped gardens, tree-lined streets, grassed areas for active and passive recreation, and community reserves which often contain barbecue facilities, park furniture and children's playgrounds.

"Turning land into fully-functioning neighbourhoods where families can play safely in parks, and residents can feel part of the community, is Devine's main aim for creating 'Wattle Park'," said Scott McIntosh, Devine's Queensland State Manager for Housing & Land.

'Wattle Park' is conveniently located off the M1 Highway between Brisbane and the start of the Sunshine Coast. A few kilometres northeast are the Bribie Island waterways and beaches, whilst west is the scenic D'Aguilar Ranges.

Burpengary has 21 parks, an array of sporting fields and recreational facilities, and is well served by retail outlets. The Caboolture Shire has 28 state schools, 9 private schools, and numerous childcare centres.

'Wattle Park', at Lot 101 Pendula Drive Burpengary, is open for inspection daily from 10am to 5pm. More information is available on 13 24 66, or www.devine.com.au .

Released by: Devine, 3 Westmoreland Blvd, Springwood, Queensland 4127
Contacts: Scott McIntosh, Qld State Manager, on (07) 3380 2572, 0448 847 177
Richard Sterry, Qld Sales Manager, on (07) 3380 2576, 0400 654 584

Prepared by: Barry Hyland of PR Plus, Level 1, 272 Pacific Hwy, Crows Nest 2065 on
Ph: (02) 9439 9191, Fax: (02) 9439 9190. pluspr@ozemail.com.au