This article is from the Australian Property Journal archive
BUILDER developer Avid Property Group has unveiled a boutique 100-home residential development in Logan Reserve, part of a wider masterplan at the Noffke Court site.
Avid Property Group will also deliver a 384-home land lease community at the, which will incorporate new community facilities and amenities and that it is aiming to commence in 2025, in addition to the adjacent 300-home development Chambers Ridge which Avid completed last year.
Initial works on the new community, Chambers Reserve by Avid, are planned to commence in mid-2024, with the company’s builder arm, Villaworld Homes by Avid, to start construction on the first homes later this year.
Avid general manager Queensland Anthony Demiris said the new community will deliver more affordable housing options to the Logan region amid rapid population growth and increased demand.
“This new community will help to address the ongoing issues of limited supply and surging demand for new land in the south east, in particular this fast-growing region,” Demiris said.
Recent Australian Bureau of Statistics figures show the city is the fastest growing local government area Queensland, with Chambers Flat and Logan Reserve recording the highest population growth in 2023, up 18%.
The state government’s Shaping SEQ 2023 plan is forecasting the region’s population to hit about six million by 2046, which would require about 900,000 for the additional 2.2 million people.
The new community follows the sell-out of Chambers Ridge in late 2023, and its 749-home Logan Reserve development, Killara development in 2021.
Early investors in the Chambers Ridge community an estimated 29% increase in the value of their home, with homes in the first 2017 release selling for an average of $435,000 compared to an average of $620,000 in the final release.
Demiris said the builder at Chambers Reserve, Villaworld Homes, carries the majority of costs until settlement.
“The pressure from cost-of-living increases in recent times has caused many buyers to seek out more secure purchasing options, a solution Avid provides to hopeful homeowners with single fixed-price house and land contract and minimal deposit requirements.”
