The property market in Keysborough appears to be going from strength to strength with Intrapac’s Somerfield recently recording record sales.
There has been much speculation amongst property experts that Australia’s property market has fully recovered, fueled by strong price growth in recent quarters. Data from Australian Property Monitors shows that house prices have now been accelerating for three consecutive quarters, and results at Somerfield support this.
A record 106 lots have been sold at Somerfield since the start of July 2013, almost triple the sales over the equivalent time periods in 2011 and 2012, an indication of both the demand for the locale, the quality of the established development, and strengthening Melbourne property market.
Somerfield is a new neighbourhood located in a unique and quiet pocket of Keysborough, a mere eight minutes from the beach and approximately 25 minutes to the city via Eastlink.
Once fully completed, Somerfield will comprise over 1800 homes and about 7000 residents. In excess of 1050 lots have already been sold.
Almost 20% of land at Somerfield is dedicated to open space, and every home is within 400 metres of parkland or wetlands.
Design guidelines ensure that only high-quality, prestige homes are built at Somerfield, protecting both the heritage of the neighbourhood and the value of residents’ investments.
Interestingly, a number of recent sales at Somerfield have been to existing owners, who have purchased subsequent properties after recognising its investment potential.
Somerfield resident Rolando Navas first bought in December 2010 and says he was initially attracted to the unique location and community spirit.
“We quickly realised how different Somerfield was to others in the area, and it seemed to be the only development in the southeast of Melbourne with such a strong community feel and focus. We love being so centrally located to the city, shops, schools and bayside beaches,” said Rolando.
After residing in the neighbourhood for two years, Rolando and his wife made the decision to purchase a second block of land at Somerfield.
“We love the area and our daughter will start school in 2015 so we have made the decision to settle here for the long-term. We purchased a second block of land in one of the latest releases as we are planning to upgrade to a bigger house within the neighbourhood.”
“It is a fantastic investment, you can see that Intrapac has worked really hard to develop a quality neighbourhood with resident satisfaction in mind. The parks, lakes and play areas are extremely well designed and there is so much attention to detail. We feel quite fortunate to have invested here.”
“The community spirit at Somerfield is the best we’ve experienced, as most residents are owners and it is an extremely friendly, down-to-earth and tolerant neighbourhood,” said Rolando.
“It is great that the beach is so accessible and with summer around the corner, no doubt we will spend many weekends at the surrounding beaches.”