Property Australia

Buyers look for boutique blocks

PROPERTY AUSTRALIA October 8, 2019

A new lifestyle precinct at Cedar Glen in Brisbane is tailored to increasing demand for ‘boutique’ home sites, as more buyers look for affordability, low maintenance and location.

Cedar Glen, developed by Cedar Woods Properties, comprises 39 lots, ranging from 263 sqm to 537 sqm, and starting from $280,000.

It follows similar boutique releases at Cedar Woods’ Williams Landing project, situated 20 kilometres from the Melbourne CBD, which features the Addison Walk precinct with lots sized from 213 sqm to 448 sqm.

Peter Starr, Cedar Woods’ senior development manager, says the new Cedar Glen release gives home buyers the opportunity to build a home in Ellendale, 12 kilometres from the Brisbane CBD, for less than $500,000.

Starr says the starting price of $355,000 for home sites in the wider Ellendale community, where lots range from 300 sqm to 3,000 sqm, was beyond reach for some buyers, prompting the developer to design the new release for those stepping onto the property ladder or downsizing.

“Across the board, the size of home sites in Queensland is reducing, with state government data showing lots in Brisbane now average 421 sqm, which is a reflection of affordability pressures and changing lifestyles.

091019 - Project of the Week - Cedar Glen - Render“It is becoming more common for buyers to look for a home that puts the emphasis on lifestyle, meaning they want to spend less time maintaining and more time enjoying where they live with work, restaurants, cafes, shops, schools, services and other conveniences in easy reach.

“Affordability is also a key factor, not just for first home buyers breaking into the market, but established buyers wanting a home that enhances their lifestyle and unlocks equity.”

Mr Starr says builders are offering savvy designs to suit boutique lots, so those who choose this option don’t have to compromise on space.

“It is a smart and sustainable way of living, and is increasingly becoming a popular choice, particularly for those who don't have a large family living at home.”

When complete, Ellendale will feature more than 900 homes set among significant green open space, with 40 per cent of the community to be dedicated to conservation area and parkland.