Property sales defying crisis

HOME buyers have been attracted to a new 500 lot housing project in south east Melbourne.
Sandarra was launched on 15 November and despite the current economic downturn an average of 1.5 blocks have sold every day for the past 60 days.
Paul Ciprian from Oliver Hume said the majority of purchasers were attracted by current low interest rates.
“With land prices from $160,000 and house and land packages available from $325,000, affordability has been a driving force in the ongoing sales rate of the project,” he said.
“The strong demand for land at Sandarra is also being fuelled by a range of unique advantages for future Sandarra residents.”
Mr Ciprian said Sandarra residents would live minutes from Port Phillip and a number of holiday destinations, close to educational facilities, and a short drive from a majority of employment corridors of south east Melbourne.
He also said buyers were attracted to the layout of Sandarra and the fact that it is part of Melbourne’s only drought proof suburb Sandhurst in the City of Frankston.
“The Sandarra layout recognises community safety with limited entry and exit points on the project eliminating any through traffic which is a common problem in many other estates and established suburbs,” he said.
“(Residents will also have) access to guaranteed green environment through the provision of recycled water to every home for the watering of gardens and public spaces, making the project drought proof at a time of tightening water restrictions.”
Mr Ciprian said a further 22 lots will be released this week as the demand for land is forcing the stages to be brought forward.