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New School Sees Development Sales Soar

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One of just four new Queensland schools announced for 2017 has sparked huge sales in a neighbouring masterplanned development where the predominant purchasers are first home buyers.

Caboolture's The Reserve buyers only need to pay a $1000 deposit to secure land for their new home in the NBN-ready estate nestled within lush parkland which is located next door to one of Queensland's newest schools, Pumicestone State School. Research from marketing agents Oliver Hume says first home buyers are the predominant purchasers into The Estate representing 59 per cent of total sales.

The Reserve's Estate Manager Kat Kilpatrick said sales have increased since the Federal election in July, but the announcement of the state school’s name in September coincided with a big sales spike.

“Buyers have referenced the new school, affordability of large, flat blocks and the $20,000 Queensland Government First Home Owners grant as key drivers behind their purchases,” Ms Kilpatrick said.

Research shows that The Reserve has averaged four sales per month since January 2016, with a spike of up to eight sales during September and October 2016, representing a 100 per cent increase from the same months in 2015.

Oliver Hume's research revealed 2016’s most popular price point for its grand total of 227 lot offerings during the year is $185,000, with 450 square metre blocks representing the most popular bracket for buyers within the estate’s 400 - 1325 sqm land offering.

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The Reserve developers Comiskey Corporation's Managing Director Steve Comiskey said an undisclosed financial donation was made by Comiskey Corp to the new Pumicestone State School to assist the establishment of the school’s Parents and Citizens Committee.

Mr Comiskey said one of The Estate’s key drawcards was its opportunity for buyers to affordably purchase land and build a new home only 45 minutes from Brisbane’s CBD and 30 minutes from the Sunshine Coast.

“Proximity to schools is key for many young owner-occupiers, and it couldn’t be any more convenient to purchase into an estate just next to a new school.

“Enrolments open this month, so we expect to see sales continue to climb,” Mr Comiskey said.

The Reserve is located five minutes from the Bruce Highway, six minutes to the Caboolture train station. The Reserve is a quality residential development positioned in one of Brisbane’s fastest growing suburbs, with more than 5,000 people moving to the region per annum.

Pumicestone State School is one of just four new Queensland schools announced for 2017. The school was announced under the Queensland Schools Public Private Partnership Program (PPP) and is expected to reach 850-900 students in just eight years by the year 2024.

The State Government’s 2016/17 Budget will provide $121 million to build and maintain local road and transport infrastructure for the rapidly growing Moreton Bay region.

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Article originally posted at: https://https://theurbandeveloper.com/articles/development-neighbouring-new-school-sees-sales-surge