In a welcome development for first-home buyers struggling with Brisbane’s soaring property prices, developer Peet has announced the launch of 82 new townhomes in Nudgee. The Little Eagle Nudgee community, located just 18km north of Brisbane’s CBD, offers three- and four-bedroom homes priced under $750,000, making them eligible for the Queensland First Home Owner Grant.
This launch comes at a crucial time for Brisbane’s property market, which has seen significant growth since the pandemic. PropTrack’s Home Price Index reports a 14% year-on-year increase in Greater Brisbane, with prices now surpassing those in Melbourne. Nudgee itself has experienced a dramatic 22.9% rise in median house prices over the past year, reaching $1.085 million.
Brendan Gore, managing director and CEO of Peet, emphasized the project’s affordability: “The townhouses at Nudgee are delivering an affordable alternative to the established housing market which is sitting at around $1.1 million.” Gore explained that Peet’s construction model allows them to offer homes at 70 to 80% of the area’s median house price.
The Little Eagle Nudgee development features high-quality finishes, including gabled roofs, stone benchtops, and stainless steel appliances. Community amenities include a pool, barbecue area, and play facilities. The project also incorporates sustainable elements, such as electric heat pump hot water systems to reduce power consumption.
Located near the Gateway Motorway, the new community offers easy access to Brisbane’s CBD, airports, and local shopping destinations. It’s also in proximity to Nudgee Beach Recreation Reserve and reputable educational institutions like St Joseph’s Nudgee College and Australian Catholic University.
The first 20 townhouses in Stage 1 are now available, with residents expected to move in before Christmas 2024. This development represents a significant opportunity for first-home buyers in Brisbane’s competitive market, potentially saving them an additional $30,000 through the First Home Owner Grant.
Published 23-September-2024
