Ripley Valley's largest development
Providence is selling more than 1 block of land a day as buyers rush to relocate to South East Queensland's largest residential community.
Providence, which is being developed by
AMEX Corporation, has just sealed its 200th sale since opening its sales centre in May this year and has only 27 blocks still available for sale.
Providence Project Director Michael Khan said, "from May, when we opened our sales centre, to the end of October, we have sold 200 lots. We've been selling more than one block of land every day for six months.
"That means the Providence has grown to a community of around 600 future residents in just six months. To cater for demand, we have had to bring forward the release of Stage 6 by six months."
Mr Khan said Stage 6 of Providence would be released in November, rather than next year.
"We have had to speed up the construction of land in order to provide enough supply, so we are currently constructing 335 lots at the one time," he said.
"Meanwhile, we are building the first network of roads and investing millions in landscaping for when our first residents move in next year.
"We always knew there would be strong demand from local residents, but 60 per cent of our enquiries are from Brisbane residents, and we now have buyers relocating from inner-city locations like Woolloongabba."
Buyers are predominantly first home buyers, with downsizing couples the second highest group of buyers, said Brinton Keath from land sales and marketing company
"Providence is currently on track to be the fastest selling land project in the entire South-East Queensland land project market this calendar year,"Mr Keath said.
"The western corridor is really booming with the newly opened Springfield train station, the $150 million Orion Shopping Centre extension and the recently-announced $500 million Brookwater resort."
Providence is the largest single development within Ripley Valley. The 670-hectare masterplanned community will be developed over the next 20 years and eventually house 20,000 people. It will also include two future primary and secondary schools, a health and wellbeing precinct and 200 hectares of green and open space.
Over the next 25 years, Ripley Valley is projected to accommodate 10 per cent of South East Queensland’s population growth, with a projected population of 120,000 people and significant employment opportunities for the western corridor.
Providence is being developed by Amex Corporation, an Australian family-owned residential development company that has been operating in Queensland for 25 years, and has delivered 14 communities across Australia.