This article is from the Australian Property Journal archive
MOREMAC’S Kinbrook was selling an average of two lots a day in April, with the Donnybrook project achieving a house and land sale record of 300 lots in the first half of the year.
Sitting 35 kilometres north of Melbourne’s CBD, Kinbrook has now sold a total of 700 lots, with the community set to contain 1,100 homes upon completion.
“Kinbrook has attracted a buyer profile of growing families who are seeking more land and a more relaxed lifestyle at a price point that is true value for money,” said Martin Gaedke, project director for Moremac Property Group.
No doubt supporting the interest is Kinbrook’s neighbouring suburb of Mickleham which was named by the HIA as the number one growth area in Victoria, with a 32.8% population increase and $412.1 million in building approvals.
“It’s a highly accessible area, located right next to the train station and just off the Hume highway, which has proved to be an asset for those who want to remain connected while enjoying being tucked away from the hustle and bustle of the CBD,” added Gaedke.
Kinbrook has continued to see strong sales, even in April the project had its best-selling month, despite the HomeBuilder grant initiative reaching its end and contributing to a 50% drop in new home sales over the month.
However, across the country, strong market conditions pushed construction levels to new records and new home sales to rise by 15.2% over May.
“The community enjoys natural reserves, walking trails, bike paths and open spaces, while still remaining very connected to the inner city and neighbouring areas,” said Gaedke.
Kinbrook is split into two precincts, The Glide, which is built with first home buyers in mind and Lavender Rain which is targeting an established buyer market, with larger lots randing from 350sqm to 643sqm.
With demand high, Moremac has brought forward the development of key infrastructure including parks and public schools.
Works on a community park are scheduled to begin in the coming weeks, with both primary and secondary schools to be built within the next 18 months.
