News

January 5, 2023 | IN Villaworld Homes | BY AVID | 5 min read

First-home buyers aspiring to own or build a new home have been turning to affordable new residential communities in the Logan-Beaudesert region to make their property dreams a reality.

The Queensland Government paid out $20.4 million towards the purchase or construction of new first homes for more than 1,350 buyers in the Logan-Beaudesert region in 2021-22, according to official Queensland First Home Owner Grant scheme figures1.

This represented 16.3 per cent of the total $124.8 million grants paid out last financial year – the highest proportion of any Queensland region. Ipswich was second with $13.7 million worth of grants paid to more than 910 first-home buyers.

While the property market has cooled from its record highs in early 2022, and the number of first-home buyers has also declined, those still chasing their dreams of owning a new home are continuing to look in the Logan-Beaudesert region.

In the five months to the end of November 2022, the Queensland Government paid out $5.5 million in First Home Owner Grants to 368 first-home owners purchasing new homes in the region – at 17 percent this was the highest proportion of any Queensland local government area.

The southward expansion of Greater Brisbane has already seen the population of Logan increase by almost 14 per cent to 345,000 people in the five years to June 20212. By 2036 the region’s population is projected to exceed 500,0003. AVID Property Group General Manager Queensland Bruce Harper said value-driven first- home buyers were continuing to seek out affordable new residential communities where they would be eligible for the Queensland Government’s $15,000 first-home owner grant incentive.

“Under the scheme, eligible first-home buyers can apply for $15,000 towards the purchase or construction of a new house, unit or townhouse valued at less than $750,000 (including land) that they’ll live in,’’ he said.

“That’s a substantial amount of money for young people trying to get a foothold in the
property market.’’

Mr Harper said first-home buyers also recognised the financial savings and security in new residential communities like Chambers Ridge by AVID at Park Ridge, where the builder – Villaworld Homes by AVID – carried the majority of costs until settlement

Mr Harper said while the frenetic pace of purchasing in 2022 had slowed, AVID communities were still attracting solid buyer interest and achieving sales. “We’ve settled 42 homes in Chambers Ridge since the start of the 2022 year, with a further forty-eight properties under contract to settle this financial year, leaving just over 10 homes on the market.

“Buyer enquiry remains strong with first-home buyers dominating inquiries. They represent 32 per cent of all enquiries at Chambers Ridge this year.’’

Departing from the typical instalment-based residential building contract, AVID offers a single fixed-price house and land contract with a minimal deposit. Buyers don’t pay another cent until the turnkey home is completed, which could save them thousands.

Mr Harper said in the current economic environment he expected more buyers to do their homework on contract terms, conditions and inclusions and to seek out more secure purchasing options from well resourced and long-standing companies. “Buyers are more willing to sacrifice custom internal finishes for the security of a well-located turnkey home – complete with extras such as landscaping, air conditioning and window furnishings – in a curated neighbourhood,’’ he said. “Importantly buyers don’t have to release the bulk of their hard-earned savings until they have the keys to the front door.

‘’That means owner-occupiers aren’t experiencing the double whammy of paying rent and
building costs at a time when household budgets are under pressure from cost-of-living
increases and interest rate rises. For investors it means they can start earning rent as soon
as they settle.’’

Carmen and Troy Bull moved into their new “dream home” in AVID’s Chambers Ridge community in the second half of 2022 with their 11-year-old daughter and two miniature sausage dogs, Trixie and Kirra.

While the purchase was Troy’s first home, Carmen had previously bought a townhouse which made them ineligible for the First Home Owners Grant. However, that didn’t stop the young couple from realising their dream of buying together in a quiet new residential community.

“We loved the design and quality of our Villaworld Homes rental at AVID’s Serendale community in Coomera, which is why we made the decision to build our dream home through Villaworld Homes,” Mrs Bull said.

“We were given a plan of the land sizes and a copy of all the house plans that were attached to them which gave us the opportunity to choose a design that suited our family. That took away a lot of stress,’’ she said.

“There were also no progress payments after the initial deposit which was fantastic. “Despite Queensland’s extreme flooding earlier in 2022 and building material delays, we were really pleased with how simple and efficient the whole process was. “The estate is beautifully landscaped and is in a great location that suits our family’s lifestyle perfectly.”

1. QFHOG by Statistical Area 2021-22 up to 31 October 2021 – Queensland First Home Owner Grant by
Statistical Area 2021-22 – Open Data Portal | Queensland Government
2. 000225-Census-Data-Fact-Sheet-A4_v7_noFonts_web.pdf (loed.com.au)
3. City of Logan – Logan Office of Economic Development (loed.com.au)

---

DOWNLOAD MEDIA RELEASE