First-home buyers have been offered a reprieve from south-east Queensland’s skyrocketing housing market, with 82 new townhouses that qualify for the First Home Owner Grant launching 30 minutes from Brisbane's CBD.
Brisbane's property market has experienced rapid transformation and growth since the pandemic. According to PropTrack's Home Price Index, Greater Brisbane continues to perform strongly with year-on-year growth sitting at 14% and selling prices now officially exceeding those in Melbourne.
It is a far cry from Brisbane's longstanding reputation as an affordable respite for first-home buyers.
Townhomes are the natural next step for those wanting their own backyard while remaining within city limits, and developer Peet has seized on this opportunity to announce 82 new almost-completed townhouses in the northern Brisbane suburb of Nudgee.
With prices $750,000 and under, Little Eagle Nudgee currently offers the only new townhouses under construction in the region which qualify for the Queensland First Home Owner Grant, saving successful first-home buyers an additional $30,000.
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With prices $750,000 and under, Little Eagle Nudgee currently offers the only new townhouses under construction in the region which qualify for the Queensland First Home Owner Grant. Picture: supplied
"The townhouses at Nudgee are delivering an affordable alternative to the established housing market which is sitting at around $1.1 million," said Brendan Gore, managing director and CEO of Peet.
Nudgee's median house price sits at $1.085 million, up 22.9% over the past 12 months, according to realestate.com.au data.
The architecturally-designed Little Eagle Nudgee community offers a collection of three- and four-bedroom, two-storey homes with high-quality finishes in the suburb of Nudgee, just 18km north of Brisbane.
Peet's construction model allows them to be clearer on pricing, and provide townhomes at 70 to 80% of the median house price in the area.
"Our medium density business model of selling homes close to completion provides certainty of build costs and a clear fixed price value proposition for the customer," explained Mr Gore.
"With the continued supply issues experienced across the region, and rental availability remaining a challenge, selling our townhouses when they are near completion allows customers the ability to move straight in without having to wait due to an extended build timeframe."
MORE: Your own backyard: First-home buyer-friendly houses for under $700k
The communal entertaining area with pool, barbecue and play facilities. Picture: supplied
Thoughtfully designed for families looking for a low maintenance lifestyle, the new homes include gabled roofs, stone benchtops, stainless steel appliances, and ceramic floor and wall tiles, as well as communal pool, barbecue, and play facilities to host friends and family.
Set among established trees and green spaces, the build also incorporates electric heat pump hot water systems to reduce power use.
"Little Eagle Nudgee is just one example of our commitment to planning for areas where we expect an uptick in population growth... helping more Queenslanders achieve their dream of homeownership," Mr Gore said.
“The new community provides a timely response to Brisbane’s increase in housing demand and sets a new standard for affordable living through high-quality, sustainable design."
The new homes are only minutes from the Gateway Motorway, providing connectivity to the CBD, Moreton Bay region, domestic and international airports, and local shopping destinations.
The community is also close to Nudgee Beach Recreation Reserve and some of Queensland’s top educational institutions, including St Joseph’s Nudgee College and Australian Catholic University.
The first 20 townhouses in Stage 1 of Little Eagle Nudgee are now available, with the residents expected in before Christmas 2024.
Looking for more new properties? Check out our dedicated New Homes section.
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