First home buyers are being given the chance to buy a home in Greater Brisbane for under $750,000, with the only new townhouses in the area that qualify for the first homeowner grant.
82 two-storey townhouses in Nudgee are being built by property developer Peet, with its first residents planning to move in by Christmas 2024.
82 townhouses are being built in Nudgee, making for the only new townhouses in Greater Brisbane that qualify for a first homeowner grant.
Named the Little Eagle Nudgee community, three-bedroom townhouses start at prices of $749,900, with prices on the four-bedroom homes yet to be announced.
By comparison, the median sale price for a home in Nudgee is currently $1.085 million. Nudgee is in the Brisbane North area, where only 63 first homeowner grants were given in the 2023/24 financial year. Each of the townhouses will be eligible properties for the grant, if bought by first home buyers.
Peet’s CEO and managing director Brendan Gore said the development represents a commitment to address the needs of first home buyers, while planning for areas in the state with growing populations.
“Brisbane continues to experience significant housing demand, which has resulted in prices that prevent many Queenslanders from achieving their dream of home ownership,” he said. “We believe it’s important to offer high-quality homes that suit and are accessible to a range of buyers, particularly in highly sought after areas north of Brisbane.”
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Each townhouse will be a turnkey home, connecting to Brisbane City through the Gateway Motorway.
Nudgee connects to the CBD through the Gateway Motorway, with a sporting complex planned to go up near the development. Access to public transport and local stores will be available to new residents.
Each of the townhouses will be turnkey homes, featuring modern sustainable designs with ceramic floor and wall tiles along the interior.
The development will also contain several communal areas like pools, barbecues and playgrounds for families to mingle in the growing community.
Prices for the homes begin at around $750,000, more than $250,000 cheaper than the median house price in the area.
Mr Gore said the team was especially proud its environmentally conscious features, such as electric heat pump hot water systems to reduce power use.
“We’ve also retained established trees and greenery in the area to create green spaces and contribute to better amenity for future residents,” he said.
“The estate will also incorporate recycled timber from the previous warehouse on site into the communal open space areas.”
The homes will be sold in several stages. All of the first 20 townhouses have been sold by the end of October, with three homes sold from the current batch of 24 new residences.
Construction on the entire development is expected to finish by 2026.
