Stockland’s Edgebrook in Clyde selling house and land packages for $366,000
First-home buyers in Melbourne’s southeast are snapping up house and land packages $150,000 below the median price — with half already sold. Is this the best deal in Melbourne?
South East
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First-home buyers are snapping up what could be Melbourne’s cheapest house and land packages.
Stockland’s Edgebrook in Clyde are selling the packages for $366,000, which is $150,000 below the median price — according to the latest figures by realestate.com.au.
The estate will include 801 houses, and to date about 485 have sold and 100 are already built and occupied.
Stockland project director Kerry Balci said house and land deal was welcome news for those looking to buy their first new home or upgrade.
“Edgebrook is a popular family friendly community and is continuing to attract strong inquires,” Ms Balci said.
She said the development was near schools, public transport, employment hubs and links and featured open space, including Clyde Creek and the upcoming sensory-friendly Central Park
A dog park is also in the works.
Couple Haylee Ortic and Danny Snell said the lower than usual price was attractive to them and they bought a house there as it was “good value for money”.
“The pricing was really affordable for us and all of the future plans sound so amazing, with lots of parks and walking tracks,” Ms Ortic said.
“Everything is really close but it still has that country feel to it and the community is amazing.”
Property analyst Catherine Cashmore said the Edgebrook package deals were a good entry price but urged prospective buyers to be aware of both the benefits and disadvantages when buying within a new estate.
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“If you’re a first-home buyer and you’re looking to stay within the area for 10 years and have your children go to the local school — then it’s good value,” Ms Cashmore said.
“But, if you’re buying a house in a new estate as an investment property, there’s usually not a lot of capital growth until the area has been built up and built out.
“Take Tarneit for an example — there was no capital growth in the area for several years until a train station was built which saw property rise around this area.”