Sunshine housing market is on the move.
A new development, the Royal estate, which fronts Wright Street and backs on to Kororoit Creek, will release 97 blocks in three stages, offering a range of single and double-storey homes and townhouses.
Ben Thomas, director of developer Three Pillars, said several stage one allotments had already been sold after their release just before Christmas.
He said the developers were attracted to Sunshine’s reputation as a growth suburb and its potential for further growth.
Sunshine had the second-fastest real estate price growth in Victoria for the June 2014 quarter, with a 23.2 per cent jump in the median house price to $539,000. The median dipped slightly to $535,000 in the September quarter.
“With limited opportunities for quality residential land available in Sunshine, there has already been a considerable level of inquiry among local home buyers and investors,” Mr Thomas said.
“The site was chosen for its potential, as well as its location within 12 kilometres of the CBD and within easy reach of the popular regional cities of Bendigo and Geelong.
“Further, the estate is near Buckingham Reserve, which is one of five flagship parks developed by Brimbank council, as well as Sunshine’s sporting amenities and medical and educational facilities.
“Residents will also benefit from ample public transport options,” he said.
