Lendlease has fast-tracked the next stage of a major new precinct at its $11 billion Yarrabilba master planned community after buyers snapped up more than 100 blocks on the weekend.
The buying frenzy was dominated by owner occupier purchasers spurred on by record low interest rates and south-east Queensland’s rapidly rising house prices. Interstate buyers were also out in force, reflecting the growing migration to Queensland from southern states.
The new precinct, known as The Parks, comes as the population of Yarrabilba tops 10,000 residents, cementing its place as one of Australia’s leading master planned communities.
The new precinct will eventually provide around 2,000 new homes close to an environmental corridor, a new state primary school opening in 2023, and the future Yarrabilba Town Centre. More than 35 per cent of The Parks will be dedicated to parklands and green space.
Lendlease Development Director for Yarrabilba, Michelle Wooldridge said This new precinct will set the scene for a massive expansion over the next 20 years and help to deliver on our vision to create Queensland’s best master planned community.
“The Parks will help to meet significant pent-up demand for new homes in the Logan region, spurred by record low interest rates, rising house prices and increasing interstate migration.
“We knew buyers were eagerly awaiting the launch but to sell over 100 blocks is a great result for Yarrabilba and reflects the popularity of this family-friendly community.
“It was especially pleasing to see the majority of lots going to owner occupiers, many of whom were current Yarrabilba homeowners or renters looking to upgrade.
“A premium stage within The Parks, known as Haven, has been especially sought after due to the larger lot size on offer.”
Yarrabilba residents and new buyers can celebrate the next land release of The Parks at a special family fun day on Saturday, 17 July, featuring a wildlife show, cookie decorating, face painting, sausage sizzle and a coffee cart.
The 32 blocks will be priced from $177,000 with lot sizes ranging from 333 up to 666 square metres.
Already a thriving, modern township, Yarrabilba currently has four schools, two childcare centres, health services, a Coles supermarket, restaurants, cafes, sports fields, and employment hubs.
Families are attracted to the Yarrabilba lifestyle due to all the existing services and the outdoor lifestyle on offer, including 120 kilometres of walking and bike paths and regular sporting activities. It is also one of Australia’s first 6-Star Green Star rated communities, designed to protect, and enhance the natural environment.
Yarrabilba resident and new first home buyer Megan Gough said my husband (Mitchell) and I were previously renting in Yarrabilba for two years and just fell in love with the community and what it offered our two young children.
“It’s an amazing community of people and everything is on your doorstep.
“Because of what Yarrabilba offered for our family, we decided to upgrade and go from renting to buying our first home. We love that the facilities are so accessible, and you are so central to the city and the Gold Coast.
“Our neighbours have become good friends as we all built around the same time as each other. We are a tight knit community.
“We had an amazing building experience and despite COVID, the whole process was easy and enjoyable.
“This is a wonderful community for our children to grow up in.”