The release of 40 new housing lots in Diggers Rest has been fast tracked by a developer to meet “increasing buyer demand”.
AVID Property Group has brought forward the launch of the Flore neighbourhood at its Bloomdale estate with the release of 40 blocks. Once completed in 2024, Bloomdale will have 1600 houses.
AVID state general manager Peter Vlitas said increasing numbers of people were flocking to the area.
“Residential property demand is surging in the region and as prices continue to rise in the city, buyers are increasingly looking for affordable land options, particularly in growth hot spots like Diggers Rest,” Mr Vlitas said.
“We have been overwhelmed by inquiry rates at Bloomdale so have made the decision to bring forward the release of our exciting new Flore neighbourhood, along with the first 40 blocks of land.”
The median house price in Diggers Rest, $493,000, was almost half the median house prices in metropolitan Melbourne in the June quarter, according to Real Estate Institute of Victoria data.
But prices in Diggers Rest are shooting up, with a 13.2 per cent growth recorded in the 12 months to June, 2018.
Angela and Mitchell, who didn’t want their surnames published, bought a Bloomdae block earlier this year and are hoping to move in by December. Angela said they were looking for an affordable area.
“With construction about to start on our home, we are getting pretty excited,” she said. “The whole neighbourhood has really grown on us.”
