Thornlands House Land Package
Thornlands House Land Package for a young couple seeking to take advantage of the Builder Boost Grant and secure a property as close to the suburb of Murrarie as possible.
A young couple was referred to me by a mortgage broker seeking to help his clients achieve their dreams. They needed to be close to where they worked, a suburb called Murrarie on the Brisbane Bay Side area, and within a budget of $540,000. At the time, there was a new development in Thornlands with a house and land package costing $534,000. The land was only 325m2, but there was no vacant land available anywhere near their desired location, and house prices at this time were starting to rise.
This was over 16 months ago, and it took us a year to get the land registered through the council and six months to complete the build. These are the issues facing anyone who wants to build a new home these days: cost blowouts and time delays.
In this case, the young couple were aware of how long it would take to complete, and as the builders’ boost made up a big part of their decision-making process, they were happy to wait.
Performance
The most significant part of this property is how much it is worth today. The bank valued the property in March 2023 at $850,000.
The rental market in Thornlands is robust.
Suburb Statistics
Distance to Brisbane CBD: 32.6 Kim
Median House Price 4 Bedroom ( November 2023) = $860,000, steady
Median Rent Price 4 Bedroom ( November 2023) = 650 per week, up 8.30% in the past 12 months
Vacancy Rate: 0.66%
Population: 14,692
Rental Population: 22.66%