As capital growth benefits all homeowners, there is one southeast Queensland pocket which is exceeding the COVID-indued property gains thanks to the value of community by five-fold.
In what was some of Bellbird Park’s most affordable land when it was launched in 2013, Brentwood Forest by AVID Property Group (AVID) has seen some of the highest resale values in the suburb in recent months.
Residents have seen capital gains of up to 65 per cent in five years and are attributing the sales success and demand to the community-driven lifestyle that has been brought to life at Brentwood Forest.
This is compared to the suburb’s five-year compound growth rate of 6.4 per cent for houses, according to Realestate.com.au data.
The average house price sale in Brentwood Forest in 2017 was $319,400 and the 2021 average was $539,488 according to RP data.
AVID General Manager Queensland Bruce Harper said that the developer’s focus on creating thriving communities in high growth corridors was paying off for early residents of its communities.
“We’ve seen time again with our communities, that people want to live and raise their families in areas that are close to employment centres, schools, shops and entertainment precincts,” Mr Harper said.
“But, more importantly, our buyers are looking for communities of like-minded people and somewhere they feel safe and welcome.
“We have been able to successfully deliver just that at Brentwood Forest, and locally it is becoming the most sought-after stock on the market.”
In response to the increasing demand and buyer requirements, Brentwood Forest has released a new series of turnkey homes available for purchase – a first for the community which traditionally sells greenfield blocks.
The first two stages of completed homes were released to the market this quarter, with both releases selling out within 24 hours of launch.
Mr Harper said the introduction of fully completed homes at the community was a response to HomeBuilder and COVID induced labour and building material supply shortage.
“AVID is driven by our buyers, so naturally this new offering was born from listening to our customers and asking them how we could simplify and streamline the buying process,” Mr Harper said.
“Some of our buyers expressed that while they want to build, they’re concerned about the building process, the availability of builders, risks and potential delays.
“As a result, we are providing a solution that delivers all the same benefits of building a new home, just without buyers having to go through the process,” he said.