$25k home builder grant triggers huge sales in Logan’s growth corridor
A two-speed property market is emerging in southeast Queensland with one developer recording a massive 300 per cent rise in home and land sales in the emerging Logan corridor in the past two months. WE SPEAK TO A YOUNG BUYER
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A two-speed property market is emerging in southeast Queensland with one developer recording a massive 300 per cent growth in home sales in the emerging Logan corridor in the past two months.
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Developers are claiming the unexpected growth is in new homes being built is due to the federal government’s HomeBuilder Grant announced June, which gives home builders $25,000.
The money, which is not a loan and does not have to be repaid, prompted Logan trainee nurse Sam Formby to get her foot in the property door.
The 23-year-old first-home buyer bought a block of land at Greenbank and is ready for construction to start on her new house next month.
She said buying her own home had been a long-time dream and the combination of the HomeBuilder and Queensland First Homeowners’ Grants had allowed to her to do so several years sooner than expected.
“I grew up as the eldest of seven children, in a family that always rented, so I knew from a young age that I wanted to own my own home, as I saw how stressful renting was for my parents,” she said.
“I am a nursing student and have been working full time through my degree to be able to get my foot into the property market.
“I really wanted to be able to do this as a role model for my younger siblings, to show them that being a homeowner is attainable if you work hard towards that goal.”
Ms Formby said she bought land in the Covella estate, developed by AVID Property Group, because she could see herself raising a family in the Logan corridor, where there are plans for a state school and is near the Logan Hospital.
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The estate is one of three owned by Avid, which was one of five developers in the area that recorded an increase in house and land sales this year.
Covella in Greenbank, Killara in Logan Reserve and Brentwood Forrest in Bellbird Park have had 150 blocks of land sold in June and July to buyers making the most of the HomeBuilder Grant.
AVID Property Group general manager Bruce Harper said despite the pandemic, buyers were rushing to snap up land and build their own homes in established estates.
“We have seen a substantial increase in inquiries and buyers coming through our display villages in Logan and Springfield,” Mr Harper said.
“The market is strong across southeast Queensland’s major growth corridors, and we are seeing increasing interest from first home buyers and young families looking to get into the property market while there is great incentive to buy.
“Of the sales across our communities, more than 90 per cent have been made to first home buyers, showing they are eager as ever to secure their first homes.”