A NEW $25 million land development has been completed at Pimpama targeted at the first home buyer market.
The Ridgeline at Pimpama Estate, located at Waverley Drive, has been developed by Brisbane-based Partners in Property.
According to the developer’s website it has several projects currently running located at Browns Plains south of Brisbane and Maleny in the Sunshine Coast hinterland.
It contains 105 lots priced from $185,000 to $219,000 and ranging from 350sqm to 496sqm.
Real estate group Oliver Hume is marketing the land and Queensland joint managing director Brinton Keath said it was aimed at entry-level buyers.
“In recent months we have seen first home buyers become more active due to the current first home buyer grant and the introduction of new, quality stock now that the market is starting to rebuild and buyers are demonstrating more confidence,” he said.
“We expect Ridgeline Pimpama will be able to absorb a lot of the first home buyer market in the area because it is such a unique development in a prime location with a great lifestyle on offer.”
The South-East Queensland’s Growth Area Land Market report by Oliver Hume Research for the March quarter found Pimpama had the third most active development projects after Coomera and Caboolture, with a total of six.
The Gold Coast and Tweed had a median land price of $249,900 and a median land area of 606sqm.
