01 July 2017

Media release

Stockland is once again leading the charge on housing affordability in Victoria, yesterday launching a new initiative to release ‘200 homes in 100 days’ that Melburnians can purchase for under $500,000 – more than $300,000 below Melbourne’s March 2017 quarter median house price of $826,000*.

Victorian Minister for Planning The Hon. Richard Wynne joined Stockland’s General Manager of Residential Development, Mike Davis, to launch the campaign at Stockland’s Highlands community in Melbourne’s northern growth corridor.

Minister Wynne said: “This initiative is another big boost towards helping more Victorians achieve their dream of home ownership at a time where that goal is becoming increasingly difficult.

“The Victorian Government’s Homes for Victorians package is about to come into effect. The suite of measures includes scrapping stamp duty for first-time buyers and doubling the first home owner grant in regional Victoria. It’s all about giving every Victorian every opportunity to buy a home.”

Stockland’s Mike Davis said: “To coincide with the start of the Victorian Government’s Homes for Victorians incentives, we’ve committed to releasing 200 townhomes and house & land packages over a period of 100 days, across four of our masterplanned communities.  These will all be available for less than $500,000, with options starting from just under $400,000.

“Increasing the supply of housing in major cities is the most effective way to address housing affordability, which is why the Victorian Government’s Homes for Victoria initiatives are so important.

“We strongly support the focus on increasing the supply of land, which will go a long way to toward creating more affordable price points and a variety of housing choices to get more Victorians into their own homes.

“We have a strong track record assisting first home buyers and supporting housing affordability in the state – in fact half of all Stockland residential customers in Victoria are first home buyers, and almost three quarters are owner-occupiers.

“Our Highlands project is just one example of where we offer affordable housing solutions in communities that are connected to infrastructure, schools, local jobs and services,” Mr Davis said.

Stockland is creating more housing options for first home buyers than any other property developer in Australia and in the past 12 months has sold more than 4,000 lots to first home buyers across Australia. 

The 200 lots and townhomes offered through this initiative include options at four of Stockland’s masterplanned communities in Melbourne – Highlands at Craigieburn, The Grove at Tarneit, Cloverton at Kalkallo and Edgebrook at Clyde, and builds on the successful ‘100 homes in 100 days’ campaign that was recently rolled out in Sydney by Stockland.

The campaign applies for 100 days, commencing with land releases at Cloverton and The Grove on 1 July 2017. Further releases are scheduled over the 100 day period across the four projects, with prices starting from under $390,000 and products ranging from three bedroom townhomes homes to four bedroom free standing houses.

Notes to the editor:

All of the 200 lots and townhomes in this campaign can be purchased for less than $500,000, including land lots with a selection of homes available from different builders, and a small number of townhomes at Highlands.  By comparison, the March-17 quarter median house price for metro Melbourne is $826,000*. 

Stockland’s Highlands project is a $2b masterplanned community in Melbourne’s northern growth corridor, with a mix of 9,000 homes, community and commercial areas to be delivered by Stockland over 20 years.  Located 27km north of Melbourne CBD, close to public transport, arterial roads and Melbourne Airport, the community offers a range of housing types - detached, townhouses and retirement living – and more than 5,000 homes have been delivered to date.

Highlands features six activity centres, including a commercial core, medical centre, six primary and secondary schools, childcare facilities, library and sports facilities including tennis courts, AFL oval and aquatic centre.  In addition, residents will enjoy natural waterways, playgrounds, landscaped environments and vast wetlands.  

See info on other Stockland Victorian residential projects here.

*Source: Real Estate Institute of Victoria https://www.reiv.com.au/property-data/median-prices

01 July 2017