Record Sales Prompt New Providence Ripley Valley Land Release

Record Sales Prompt New Providence Ripley Valley Land Release

21 JUL 2020

After racking up more than $14 million in sales since the launch of the Federal Government’s HomeBuilder incentive in early June, the largest masterplanned community in Ripley Valley has rushed a new release of land to market to meet continued strong demand.

Providence South Ripley, located in the Ripley Valley, this week unveiled Stage 48, dubbed “Greenhaven”, with 14 lots priced from $177,000. Located on the eastern edge of the existing community and easy walk to the new Ripley Valley Primary School,Ripley Valley Secondary College and the future town centre, the new release has homesites ranging in size from 294sqm - 598 sqm.

Providence Sales Manager Jamie Martin (pictured below) said the demand from home buyers had increased significantly since the launch of the Federal Government’s $25,000 HomeBuilder grant.

The HomeBuilder grant provides eligible owner-occupiers with a grant of $25,000 to build a new home or substantially renovate an existing home. The program is designed to assist the residential construction market by encouraging the commencement of new home builds and renovations this year.

“Since the program was announced we have been inundated with enquiry from buyers keen to take advantage of the grant and other incentives currently on offer from the State Government,” he said.

“We are now achieving some of the highest weekly sales rates in the history of the project and have had to accelerate our development program to ensure we can meet the demand.”

A second release in Greenhaven, comprising 20 homesites ranging from 375-651sqm and priced from $208,000 will be released shortly.

Mr Martin said many buyers would be left disappointed if they waited until the last minute to secure their homesite and receive the HomeBuilder grant. Buyers will only have access to the HomeBuiler grant if they meet the eligibility criteria and, importantly, enter a contract with a builder before December 31, 2020, and start construction within three months.

“Providence, like most other communities in the south east, is struggling to keep up with demand and we expect there will be a major shortage of land as we get closer to the deadline,” he said.

“With low interest rates and first home buyer incentives worth a further $15,000 up for grabs, there has never been a better time to get off the rental merry-go-round and on to the property ladder.”

Mr Martin said the homesites in Providence’s recent relase were expected to be in particularly high demand due to their size and location.

“Many of the homesites in Greenhaven will look directly on to a small park we have planned in the centre of the release that will provide surrounding owners with their own little green haven.” he said.

“With the new schools just a short walk away, a new park at the end of the street and the proposed town centre a stone’s throw away you’ll hardly even need a car.”

Providence is the largest masterplanned community in the Ripley Valley growth corridor where there is a massive $4.4 billion worth of residential projects currently underway which will ultimately provide around 50,000 dwellings to house 120,000 people.

To date, more than 1,400 homesites have been sold at Providence with a population now approaching 3,000 people.

For more information register your interest here or visit the Providence Land Sales Centre at 6 Amity Way, South Ripley. Sales Centre is open 10am - 5pm, seven days a week. You can also call one of our helpful sales team on 1800 604 246.

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