Housing diversity on offer at Coomoora, Springvale South
Development Victoria's new residential community at Springvale South is offering a great range of housing diversity which is drawing buyers to the area.
Diverse and affordable housing was a key goal of Development Victoria when planning Coomoora at Springvale South and it has proven to be a successful formula.
Homes for every buyer
First home buyers, young families, growing families, and even investors, have purchased at Coomoora, which has seen all of the land lots snapped up, and around half of the architecturally-designed townhouses also accounted for.
First home buyers have been most prevalent in the two-bedroom product, which starts from $640,000. They see it as a more suitable option to renting, and a similar price point to a two-bedroom apartment closer to the city.
Coomoora's two-bedroom townhouses offer generous sized floorplans with living areas that open onto private balconies ideal for entertaining.
Investors from inner-Melbourne have also shown significant interest in the two-bedroom townhouses. Investors will also no doubt be aware of the forecasted population growth of Greater Dandenong, and the infrastructure upgrades population growth inevitably brings.
According to the Greater Dandenong Housing Strategy 2014-24, in the decade between 2021 and 2031, the population of Greater Dandenong is expected to rise by 16 per cent, or to at least 203,000 – representing average annual growth of around 2,800 people.
Young families and more established families were attracted to both the price point of the three-bedroom townhouses, as well as the close proximity to Keysborough Primary School.
The history of the site
The site was formerly owned by the Department of Education but was declared surplus in 2016 following the merger of several schools to form Keysborough Secondary College.
Development Victoria has partnered with builder Creation Homes to construct 47 townhouses in the development, with civil construction work well underway.
To create the diverse product mix, which in turn has seen a wide variety of buyers, Development Victoria is offering a range of floorplans across the two, three and four-bedroom townhouses.
Retaining existing trees and creating green open spaces was a focus in the design of the wider masterplan. The majority of townhouses front one of the green parks within the community. Those that don't are just a stone's throw.
Priority Access program
A key commitment for Development Victoria was to increase housing supply and diversity by offering a range of affordable housing options at Coomoora.
Through its Priority Access program, eligible buyers have a seven-day exclusive period before each release where they can make a purchase before homes are made available to the general public.
Prospective buyers are income tested for their eligibility for the program. Development Victoria also offers the traditional 10 per cent deposit payment, rather than other developers who require the 10 per cent and progress payments throughout the build.
Development Victoria is committed to building communities at the projects they deliver, hosting events so residents can meet their neighbours.
