Homeowners are rushing to buy in Riverlea, Australia’s largest masterplanned community, with over $12 million of house and land stock sold in just under four weeks after launch.
Riverlea General Manager at Walker Corporation Brian Virgo said with the low cost of borrowing right now, buyers are realising they can own a house with a backyard just 35 minutes’ drive to the city.
“Riverlea is one of the largest and most exciting residential projects to be launched in Australian history as we create a vibrant, thriving community and an awesome place for people to call home,” said Mr Virgo.
“We are thrilled with the overwhelming early success of the first stage with over 65 sales already. Over 50 hectares of lakes, beautiful parklands, schools and quality retail will cater for everyone from singles, to young families, empty-nesters and investors.
“Riverlea has had a particularly strong appeal for young couples and families, keen to take advantage of new school and the 420 hectares of open space and parkland.”
Located in Adelaide’s north west, 30,000 people will eventually call Riverlea home.
Senior Development Manager Ben Moore said surging house prices and rising demand across the nation puts Riverlea in a prime position to supply attainable house and land packages that don’t compromise on quality.
“In addition to creating a vibrant hub to be enjoyed by generations of families, this 25-year project by Walker Corporation is injecting over $3 billion into South Australia’s infrastructure pipeline, as the State drives ahead with its post-COVID economic recovery,” said Mr Moore.
Construction commenced in February this year and settlement of homes is expected by the end of the year.
The strong interest for Riverlea’s first release has brought forward the launch of stage 2 ahead of schedule, with timing soon to be announced.
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