First and second home buyers have snapped up house and land packages at a new Hillcrest development.
Almost 50 packages in the first two stages of Hillcrest 88 have been sold within weeks.
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Housing developer Urbane Homes says most were first and second home buyers who bought four bedroom and double lock up garage house and land packages from $463,400.
The sales rush follows the announcement of the $25,000 HomeBuilder grant, with first home buyers also claiming the $15,000 state government grant to save up to $40,000 on their new property.
Stage two of the community was brought forward to meet buyer demand, with 15 of the 33 house and land packages sold, with remaining properties available from $464,530.
Urbane Homes director Jon Rivera says stage two was released early so more buyers would have the opportunity to capitalise on the grant.
"We have seen incredible demand because there is a limited supply of good quality house and land under $500,000 within 25 minutes of the Brisbane CBD," Mr Rivera said.
"A lot of young purchasers have done the maths and realised it makes sense to stop renting and put their money towards their own home.
"With up to $40,000 in grants for eligible first home buyers and record low interest rates, now is a great opportunity for young people to step into a new home."
Affordability was a major drawcard for buyers, and the development's location near Grand Plaza shopping centre.
Mr Rivera said the more than five hectares of green space and parklands in the community was attractive for buyers.
"People want to be close to everything while maintaining the feeling of peace and privacy that comes with living amongst greenery, and that's exactly what Hillcrest 88 offers," he said.
The development features land sizes ranging from 350 to 640 square metres, with a mix of one and two-level homes featuring four bedrooms, two living areas, two bathrooms and a double garage, starting from $464,530.
Once complete, the community will feature 64 house and land lots and 24 terrace homes, to be released in a future stage.
It comes after Peet Limited announced it would release the first lots of stage to of a $6.7 billion development at Flagstone.
Lots at Aspire Release start at $144,900.
Peet said the neighbourhood promoted adventure and discovery.
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