Despite the slow housing market recovery, competition to secure a foothold on the property ladder remains strong with a “fear of missing out” creeping back into the market.
According to CoreLogic, Australian property prices rose for a fourth consecutive month in June, with Brisbane dwelling prices 3.1% higher than its February trench.
Housing demand is being propped up by strong population growth driven by interstate migration, a trend predicated to add a further 711,000 to 1.4 million people in Queensland by 2071.
Award-winning developer, AVID Property Group (AVID) and its builder Villaworld Homes by AVID, is leveling the playing field and increasing certainty for buyers with its supply of ready to move in homes located in the northern growth corridor between the Gold Coast and Brisbane at Amara in Ormeau.
AVID General Manager Queensland Anthony Demiris said the team has drawn on over 35 years of combined expertise to help create an accessible and stress-free home-buyer experience so purchasers can seamlessly commit to a brand-new home.
“Construction delays and the rise in building costs are creating yet another element of fear for potential entrants into the housing market,” Mr Demiris said.
Data released by Commonwealth Bank highlights there are still not enough dwellings being approved and completed to match population growth.3
“It’s anticipated the appetite for homeownership will still continue but it is vital for those looking to buy, do their homework on contract T&Cs and timeframes to seek out well-located completed homes from well-resourced developers,” he added.
Mr Demiris said buyers recognise the financial savings and security in new residential communities like Amara in Ormeau, where the builder – Villaworld Homes – carried the majority of the costs until settlement.
“Amara’s completed homes – designed and crafted by industry experts in collaboration with Villaworld Homes – allow buyers to bypass the construction phase and get a foothold in the property market sooner,” he said.
“We’ve settled 31 homes in Amara since launching to market in late 2022, with a further 11 properties under contract to settle– a clear representation of the strong demand for this product offering.”
Semi-retired, Jim, 63, and Cathy, 57, Coutlis moved from Sydney into their brand-new home in AVID’s Ormeau community, Amara in May of 2023.
“We fell in love with the location of Ormeau and how quiet it was to most neighbouring towns yet close enough to all the amenities we need and our family who live on the Gold Coast,” Mr Coutlis said.
1. https://www.corelogic.com.au/news-research/news/2023/home-value-index-shows-housing-values- increase-in-june,-but-the-pace-of-growth-has-slowed
2. https://www.qgso.qld.gov.au/issues/2671/qld-government-population-projections-2023-edn.pdf
3. https://www.commbankresearch.com.au/s/desks
