When My Property Preview spoke with renowned real estate analyst Michael Matusik earlier this year, he predicted it would be a shortfall in the creation of new townhouses that would have an impact on people entering the property market on the Sunshine Coast into the future.
RPG Developments and RCQ Construction also have their fingers on the pulse, allowing them to predict this same shortfall and plan accordingly.
The companies have teamed up to create contemporary and vibrant Maroochydore townhomes at the development Locale, which are being snapped up, with more than 85 per cent of the development already sold.
Of these, 20 per cent have been sold to first homebuyers wanting to take advantage of the government’s grant before it expires.
Construction is due to be completed in the last quarter of this year, after Mayor Mark Jamieson joined builder RCQ Construction and developer RPG Developments to officially turn the sod at the Locale site in January.
RPG Developments executive director Ric Peterson says he is thrilled to see the development coming to life after months of careful planning and a strong sales response from the market, particularly those looking to enter the property market for the first time.
“The Locale complex consists of 40 two and three-bedroom townhomes some of which are priced under $400,000 which, particularly in the heart of Maroochydore, represents exceptional value for money and provides first homeowners with a great entry point into a strong market,” Mr Peterson says.
“The challenge for those looking to enter the market at the moment is finding quality stock without compromising on location. Our buyers to date including first homeowners, downsizers and investors are relishing the opportunity to purchase a new home so close to the new CBD, Sunshine Plaza, the Ocean Street dining precinct, Maroochy River and Maroochydore’s pristine, patrolled beaches.”
RCQ Construction general manager Gavin Wuiske says construction is progressing to schedule, with seven buildings across the site now under construction and scaffolding removed from three buildings.
“Two buildings are in the process of being painted and tiled, while installation of kitchen cabinetry has already commenced in the first building,” Mr Wuiske says.
“An exciting construction milestone was reached this week, with the mains electricity for the site being installed ahead of time, so we are delighted with the progress.”
RPG Developments sales executive Cathie Price says Locale buyers are all drawn to the intuitive and functional design of the development, as well as the low maintenance lifestyle townhome living offers.
“These homes are spacious, offering a second living area and separate study, downstairs powder room, pet-friendly courtyards and covered outdoor entertainment areas,” Ms Price says.
“This, as well as the appeal of a brand-new home and low body corporate fees of approximately $2500 per annum, has been appealing for first homeowners.”
For more information, visit localemaroochydore.com.au or call Cathie Price on 5459 1833.