PROPERTY developer Cedar Woods says demand for subdivisions in Perth’s northeast remained strong, despite a weaker property market.
State manager Ben Rosser said the company had fielded a lot of interest for its Ariella estate in Brabham.
“With steady sales growth over the course of the year, the north east corridor is bucking a generally slow market to become the next development hotspot,” he said.
“Unlike greenfield developments in the southern and northern suburbs, Ariella Estate is only 20km from Perth CBD. It is also adjacent to the newly-announced Ellenbrook Bus Transit Way, which will bring it even closer.
“With new developments moving further afield, we are finding increasing numbers of buyers looking to build closer to major population centres, and existing amenities.”
The estate has now sold more than half the lots in stages one and two, with several people buying multiple lots.
“Unlike our many other developments around Perth, much of the demand for Ariella Estate is coming from pre-existing communities – extended families and friends all looking to build homes in the same area,” Mr Rosser said
“We’ve had some extended families buy up to five lots across the estate.
“With the current levels of interest, we expect to start construction of our third stage during spring.”