Friday, 22 May 2009
Leading Queensland developer Heritage Pacific clocked up more than $20 million in sales in the first two months of 2009.
With four current projects tracking well, Heritage Pacific is now working on a 230 lot development in Capalaba, an investment of $120 million.
Initial sales figures today show that Heritage Pacific developments, Bridgeway, Genesis, Rivers Edge and Forest Ridge are seeing a surge in sales according to Managing Director Paul Barrett.
“Looking at these figures, the market is looking healthier compared to any time last year.”
“I think part of this is certainly the Federal Government’s First Home Buyers Grant striking a chord with people looking at getting into the market for the first time.”
“The large increase in sales along with the increase in interest means that January, February and March is shaping up to be the biggest three moths in terms of sales that we have seen in the past 12 months.”
“It is true that the market had slowed considerably and significantly, but what we are noticing is that people are slowly and cautiously coming back into the market and looking at either purchasing their first home, or upgrading their current home.”
“Even those people who may be wary of the property market are choosing a Heritage Pacific development because of the consistent, high quality product that we produce.”
“People do tend to go to products they know and developers they trust when coming back into the market after a slow period.”
“Our purchasers know they are getting more bang for their buck when they buy at one of our developments and this is shown time and time again in our research and feedback,” Mr Barrett said.
Across all their residential developments Heritage Pacific will produce more than $20 million in housing product in the next six months.
Heritage Pacific is a leading environmental developer in QLD and currently holds industry awards for Queensland’s Best Masterplanned Development from the UDIA and the Property Council of Australia’s Best Residential Development in 2008.
Since 1987, Heritage Pacific has welcomed more than 10,000 families to over 25 communities throughout South-East Queensland and has established one of the country’s fastest-growing home-building businesses.
Heritage Pacific has also developed a portfolio of commercial and retail assets valued at more than $350 million and built an established funds management business.