Emporio satisfying thirst for medium density housing
March 3, 2014
Bankwest’s Housing Density Report released this week shows the demand for medium density housing in Queensland is hitting an all-time high with over 43.3% of all new home approvals across the state now being for medium density dwellings as opposed to 32.3% last year.
Local developer, Reed Property Group believes these figures are definitely substantiated locally with demand for Stage Two of the Emporio development in Maroochydore exceeding all expectations since it went to market this time last year.
Reed Sales & Marketing Manager Jason Kollanyi said over 86 per cent of the apartments had been sold and interest both locally and from interstate investors remained high.
“We only have 11 apartments left with several months until completion in the middle of the year – we certainly haven’t seen this level of interest in the past five years so it’s very encouraging,” Mr Kollanyi said.
“We believe this increased activity is largely due to the escalating demand for medium density housing. The dream of owning your own piece of land and family home is increasingly a thing of the past for many Australians with medium density housing offering both increased convenience and affordability.”
The trend is not unique to Queensland with 38 per cent of home approvals nationally in the past 12 months being for medium density dwellings, compared to 31 per cent only five years ago.*
“Increasingly people are opting for the convenience of being closer to their place of work – they want to work, play and live within a few kilometres radius and minimise the amount of time spent travelling,” Mr Kollanyi said.
“The Sunshine Coast Council’s plan for the Maroochydore City Centre Priority Development Area was released earlier this month and as the development of the CBD gains momentum medium density housing in the immediate area will continue to attract attention. With Emporio being the Coast’s only true mixed-use development and given its location in the heart of the CBD, we are confident future stages will continue to attract strong interest.”
“While most of the sales came from interstate buyers last year, we have definitely seen an increase in local interest this year with many sales coming through the sales office on-site. We feel confident that Stage Two will be sold out prior to completion at the end of June this year.”
Mr Kollanyi said construction of Stage Two of the development was on track.
“Since the Christmas break we have enjoyed great weather and are now ahead of schedule. The roof is set to be sheeted next month and with the internal wall framing and sheeting well underway, kitchens, tiling, painting and the like are then set to follow soon after. With almost 100 personnel on site each day, the Emporio site it is a hive of activity,” Mr Kollanyi said.
Once all stages of Emporio are complete, the development will be home to a thriving market place, ground floor retail and restaurants, office space and 252 residential apartments. More than 135 apartments are either already built or currently under construction and available commercial and retail space is being secured by those businesses wanting to be within the Maroochydore CBD.
For an appointment to visit the Emporio sales suite, please call Reed Property Group Sales Executive Nick Criss on 5451 8500. For retail and office leasing enquiries, please call Reed Property Group Assistant Development Manager Lisa Dwyer on 5451 8500.
For more information regarding Emporio Stage Two apartments, visit www.emporio.net.au or Emporio’s Facebook pages for the latest updates and photos.
Ends.
Contact: Maya Gurry – Fresh PR & Marketing Mob: 0410 109 102
Email: maya@freshprm.com.au
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