Villa World : AFFORDABILITY DRIVES FIRST HOME BUYERS TO PARKSIDE

LEADING Queensland developer Villa World is gaining traction with first home buyers at its Parkside estate in Coomera, where the sell-out of the first four releases has the developer eyeing the project's next offering.

Affordable housing product and access to the State Government's $15,000 Great Start Grant are galvanising the interest of first home buyers and helping drive swift sales, according to Villa World managing director Craig Treasure.

Mr Treasure said the company, which has traditionally targeted second and third home buyers, had made a concerted effort to expand its market reach.

"Our ambition is to gain the lion's share of the first home buyer market, and the product we are delivering - through its location, quality and price point - has set us on a path to doing that," he said.

"Our product design is continually renewed to meet the needs of individual market segments - at Parkside we are delivering four-bedroom family homes from $439,000 which is a strategic move to capture the first home buyer and downsizer markets, as well as families and some investors.

"The buyer mix is varied, which suggests we are hitting the mark with these buyer groups."

Parkside, which is taking shape on a bushland-fringed site at Coomera, has already welcomed first home buyers Leah Hammond-Anderson and Clinton Mullins, who purchased a four-bedroom, two-bathroom home for $443,500 inclusive of the government grant.

"We had done our research and when we saw what was being built at Parkside it took us half-an-hour to make our minds up," Ms Hammond-Anderson said.

"It was great value in our eyes - to have a new, completed family home for a price we could afford in the long-term.

"Villa World delivers affordable, quality homes in well-established locations, and as first home buyers that resonated with us."

Ms Hammond-Anderson said Villa World's one deposit, one contract, one final payment model was a major selling point.

"We bought off the plan and all the hard decisions were made for us which really took the pressure off," she said.

"Villa World delivered us a completed home - everything was included from the interior design to the landscaping and it was at a set price."

Mr Treasure said Villa World had also introduced a zero deposit incentive in order to assist first home buyers into the market.

"First home buyers have a unique opportunity to capitalise both on the Government's $15,000 Great Start Grant and our zero deposit offer which is helping them break into the increasingly competitive market for new homes on the Gold Coast," he said.

"The challenges facing first home buyers are firstly raising their deposit, and secondly finding a property that fits their budget and lifestyle requirements.

"We feel what we're delivering at Parkside addresses these challenges."

Villa World's zero deposit offer is available to qualifying first home buyers who are eligible for the $15,000 Great Start Grant.

Parkside's 11.2 hectare site will comprise a total of 107 homes and is within minutes of an array of public and private schools, childcare centres, Coomera Train Station, shopping centres, sporting facilities and entertainment venues.

With releases one to three comprising a total of 51 lots now sold out, the fourth release of 25 homes is set to be launched, with prices starting from $439,000 less the Great Start Grant for first home buyers.

Villa World purchased the Parkside site from long-time landholder Polaris Coomera in June 2014, commenced work onsite immediately after and within 12 months has sold out of [per cent] of the estate.

The community's two display homes are located on Edwardson Drive, off Amity Road, just east of the M1 at Coomera, and are open from Saturday to Thursday, from 10am to 5pm.
Villa World is growing its project workbook nationally, having secured 292 lots worth $27 million in the 2015 calendar year, bringing total restocking in FY15 to 2701 lots worth $130.6 million.

The new acquisitions include sites at Thornlands and Redland Bay in Brisbane's rapidly growing Redlands region.

The increased development portfolio, strong market conditions and capturing a broader sector of the market support a lifted sales target of between 1000 and 1200 lots per annum in FY16.

Villa World has a market capitalisation of $250 million and was included in the ASX300 index in its March re-weighting.

Established in 1986, Villa World is Queensland's oldest ASX-listed developer and one of Australia's largest housing providers.