Reed looks forward to a year of growth in 2015
19 January 2015
The start of a new year is usually a time for resolutions and making a fresh start but with the South East Queensland property market showing strong signs of growth as 2014 drew to a close, Queensland-based developer Reed Property Group is simply looking forward to maintaining the momentum as they celebrate the start of 2015.
Group CFO & Operations Manager Mischa Leonard said the release of the REIQ Queensland Market Monitor for the September quarter 2014 in December showed the state’s key regional centres were beginning to reap the benefits of growing buyer confidence heading into the new year.
“The Sunshine Coast housing market recorded solid growth with sales increasing by three per cent and the region once again posted the state’s tightest vacancy rate of only one per cent, which bodes well for investors looking to expand their portfolio,” Mr Leonard said.
“This certainly supports what we’re seeing in the market place with Stage One of Flame Tree Pocket, our 161-lot subdivision at Sippy Downs selling out within 24 hours of being released at the end of 2014.”
“We expect to launch Stage Two of the development in the next few weeks and we are once again expecting a positive response from the market. With the wheels now firmly in motion for the Sippy Downs Town Centre and the local council committed to creating a vibrant ‘brains district’ and university town, Flame Tree Pocket is in the perfect location to capitalise on the growth the area will experience as a result.”
The group is also expected to launch Stage Three of their Emporio development in Maroochydore early in the new year with the previous stage selling out in 2014.
“We’re very excited to be launching the next stage in two major projects given market conditions on the Sunshine Coast are looking so positive,” Mr Leonard said.
“Emporio Stage Three will offer a mix of one and two bedroom waterfront apartments at an affordable price point and within walking distance of the Maroochydore CBD, so once again, in a sought after location. We also expect 2015 to signal the start of our next commercial building in the precinct.”
While the Sunshine Coast market is celebrating signs of growth, Brisbane is also recording strong sales figures and Reed continues to explore new opportunities in the city on the back of the success of its Belise development which consists of 228 one, two and three bedroom apartments over 21 levels in Bowen Hills.
“We’ve had strong support from local buyers as well as investors across Queensland, interstate and overseas resulting in 90 per cent of the apartments being sold by the end of 2014 and the remainder expected to sell well ahead of completion in the middle of the year.”
The Urbis Brisbane Apartment Insights indicated that the inner Brisbane off-the-plan apartment market is set to continue its growth both in the number of projects and the volume of apartment stock into 2015, after a record-breaking year of off-the-plan transactions ending June Quarter 2014.
“We certainly believe the market is hungry for quality product in high growth areas and Belise’s location beside the new King Street precinct, its views across the Brisbane skyline and offering all the amenities of a 5-star hotel certainly sees it tick a lot of boxes,” Mr Leonard said.
“We are confident that South East Queensland will continue to show positive signs of growth in the coming months and as a result are also looking to the Gold Coast for new opportunities. We haven’t seen a market respond in this way since pre-GFC so indications are that 2015 will be a good year for those in the property space or looking to invest.”
To find out more, please visit www.reedproperty.com.au or call (07) 5479 4444.
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For further media information, please contact Kristen from Fresh PR & Marketing on 0406 546 461 or email kristen@freshprm.com.au.
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