A third of buyers interested in purchasing land at Parklea’s new development Ridgelea at Pakenham East described themselves as upgraders, while 42 percent said they were investors and 23 percent indicated they were first home buyers, according to the results of a recent survey.
A total of 125 potential buyers responded to the short survey distributed by Parklea.
Of those, 40 percent said they were ready to buy land in the next three months and 20 percent in the next 3 to 6 months. Nearly 30 percent said they would be ready in the next 6 to 12 months.
When it came to lot sizes, 28 percent of respondents indicated they were in the market for a lot under 400 m2, while 44 percent were looking at purchasing land between 400 and 500 m2. Lot sizes larger than 600m2 appealed to 14 percent.
Respondents listed market conditions and affordability as the two main challenges when trying to purchase property.
There was an overwhelmingly favourable response to the inclusion of a solar rebate of $2000 for out-of-pocket expenses with almost 50 percent of respondents saying it was ‘very likely’ to make them purchase land at Ridgelea.
A further 23 percent said the rebate was ‘ likely’ to make them purchase land at Ridgelea.
The inclusion of a $500 security rebate to enhance home security elicited the same favourable reaction with 46 percent saying it was ‘very likely’ to make them consider purchasing at Ridgelea.
“Clearly the generous rebates offered by Parklea are attractive for buyers and gives Ridgelea an edge over competitor estates,” said Parklea Sales and Marketing Manager Jarod Mills.
“These rebates have been popular at our other estates, such as Timbertop and Kaduna Park, and we are confident they will be popular among buyers at Ridgelea.”
The survey revealed most people have resumed working from the office or onsite with almost 60 percent responding with a NO when asked if they were working from home more since the pandemic.
In total 51 percent indicated working from home has no impact on their choice of where to live.
When invited to make comments, several respondents said they were “very excited” by the development of Ridgelea and indicated that parks, open space, trees and walking and bike trails were all important lifestyle considerations when buying land.
Several asked for electric car charging stations to be offered at Ridgelea.
One respondent said they were “looking forward to a beautiful estate with a great family feeling”.
“I’m looking forward to watching the estate grow and hopefully will be able to buy some land and build our dream home,” wrote another.
Mr Mills said the survey reflected the interest and excitement that is building among buyers as work progresses on transforming farmland at Pakenham East into another high-quality Parklea estate.
When completed, Pakenham East will comprise 7,200 homes and feature a town centre, two government primary schools, one non-government primary school, a government secondary school, three community centres and 44 hectares of parks and sporting reserves connected by pedestrian and cycling paths.
Parklea will offer 3000 lots at Ridgelea.
“We know Ridgelea will appeal to a cross section of buyers as indicated in the survey,” said Mr Mills.
“The survey gives us insight into what buyers want and what sort of community they are looking for. As with all our developments, Parklea will endeavour to create a sustainable community, with lots of parks and recreation opportunities, close to transport, schools, and other amenities. It will be an estate buyers will be proud to call home.”
To enquire about Ridgelea contact the sales team on 5940 0050.