A HIA report* released in April showed that new home purchases nationally fell to the lowest level in over a decade, but at Bluestone sales have spiked in recent months, making it one of the most popular places around Adelaide to buy home and land.
A summary of net lot sales in South Australia for the year to March** showed that Bluestone sales rose from around 5 per month for the first quarter last year, up to around 9 per month for the first quarter this year.
It also showed that Bluestone now holds around an 8 percent share of the Adelaide market on new land, up from 3 percent for the same period last year, which positions it among the top three most popular new communities in South Australia.
Bluestone Development Manager, Chris Buttignol said the results could be explained by a combination of factors.
“One of Bluestone’s top selling points is the lot sizes - they are well above average but our price point is on par with, if not lower than, what many communities are offering for much smaller blocks. That’s really important in today’s market – buyers are doing the sums and choosing Bluestone because the value for money is so obvious,” Mr Buttignol said.
“Another advantage is the location. Bluestone is set in one of Australia’s fastest growing areas in the sought after Adelaide Hills. It’s the perfect mix of country living with great amenities nearby including excellent schools, shopping, community services, wineries and popular eateries – and it’s an easy 30-minute drive on the freeway into the city.
The median land size at Bluestone is 638sqm – 33 percent larger than the median lot size currently available on new land in South Australia, according to the report.
The report also showed the median land price at Bluestone is currently $190,000 - 19 percent above the statewide median price on new lots, but significantly lower than many of Bluestone’s competitor communities including St Clair and Blackwood Park (93 percent and 79 percent respective above median price on land averaging between 338 and 480sqm).
Bluestone is also offering a range of incentives for buyers including fixed price packages, low deposit finance options and up to $12,000 cash return before the end of the financial year to help families navigate the current economic climate.
“We think the fall in interest rates will help the property market but it’s going to take a while before things really move again, so anything we can do to make buying more affordable and provide peace of mind to families is our top priority,” Mr Buttignol said.
Walker Corporation has also invested heavily in community development at Bluestone.
“Bluestone is now an established neighbourhood with over 16 hectares of immaculately landscaped and maintained walking trails, parks, barbecue areas and playgrounds. You’re getting much more than just a block of land,” Mr BUttignol said.
“On top of that, we have a great support structure in place for new residents with a range of community events held every month and a designated officer to welcome families and help them get to know the area.”
Bluestone Mt Barker is Walker Corporation’s first master planned community in South Australia. In 2010 it was named the state’s Best Residential Development between 50 and 600 blocks by the Urban Development Institute of Australia SA.
*HIA-JELD-WEN New Home Sales
**Charter Keck Cramer SA National Land Survey Program – ‘Aggregate Market Performance: All of Market’, March 2012 quarter
Bluestone Mt Barker
Bluestone Mt Barker is Walker Corporation’s first master planned community in South Australia. Situated in Australia’s fastest growing regional centre in the picturesque Adelaide Hills’ wine region, Bluestone features 16 hectares of land devoted to public open space and recreation and four kilometres of hike and bike trails – all within walking distance of quality schools, shops and only 30 minutes’ drive from the CBD.
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