REVEALED: First home buyers leap into housing market as Flagstone growth corridor opens up
A Logan suburb which has broken state records for the number of first-home buyer grants is set to continue the trend after plans were unveiled to develop a massive greenfield site.
Redlands Coast
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Getting a foot on the property ladder is driving young couples to a rural Logan suburb which broke state records for take up of the first home buyers grant over the past year.
The state’s fastest growing hotspot for young home buyers was now set to expand again after greenfield developer Peet lodged an application with the State Government to open up 319ha for housing.
The proposal, inside the state government’s Greater Flagstone Priority Development Area 40km southwest of Brisbane, included 1653 residential lots on New Beith and Everdell roads. Approval was still pending.
Queensland Treasury data published on July 1 showed the area was already highly popular with first home buyers, recording the largest number of approved Queensland First Home Buyer Grant applications in 2022-23.
The Treasury data revealed 814 payments of the grant were made to buyers in the region, totalling $12,211,000.
The region, which included Beaudesert, accounted for 18.5 per cent of all First Home Owner Grant payments over the 12 months.
Peet said it expected starting prices for blocks of land at the new development to be in the $200,000 range, with house-and-land packages beginning from about $600,000 and lot sizes ranging from 250 sqm to 2830 sqm.
When completed the seven-stage Flagstone project would have 12,000 homes, a 126ha CBD, state primary school, childcare centre, 17.6ha regional sports park, a district centre with 44,000 sqm of retail space and 58,000 sqm of office space.
Peet has already started subdividing land within the Flagstone estate with a 108ha site for 786 residential lots under way to cater for up to 2100 people.
But first home buyers to new sections of the Flagstone project would have to wait at least another year while Economic Development Queensland assessed road and infrastructure plans.
It was expected approval would be by December, which has pushed the project’s completion date back from June, 2025 to August, 2026.
Electrician Lew Cannon, 38, and his family used the first Home Buyers grant to move into the area.
“We always wanted to build our own home, a place with our family’s needs at heart,” Mr Cannon said.
“When we found Flagstone we loved that we could design and build exactly what we wanted and it’s been amazing to see it all come together.
“Plus, having parks and green spaces nearby sealed the deal.
“Our two boys are thriving here and our eldest finished high school a few years ago and our youngest is at Flagstone State School.
“It’s exciting to be part of a community that’s growing and evolving like this.”
The State Government and Logan City Council estimated that the entire Flagstone development area would eventually be home to up to 120,000 people, living in a variety of housing types with a density of 15.6 homes per hectare.
Peet managing director and chief executive Brendan Gore said the company’s latest development application would allow more young families to crack into the housing market.
“To meet the strong demand from customers, our latest development application will open more lots and provide a range of housing options to suit diverse needs and budgets,” Mr Gore said.
“This will make the dream of homeownership a reality for even more families.”
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