The latest release of popular master-planned community Jackson Green sold 50 per cent of properties within the first week of sales, predominately to first home buyers.
Developer Cedar Woods reported a rise in first home buyers using a ‘co-buying’ approach to get their first foot on the property ladder.
Grove, the current Jackson Green release, consists of 23 three- and four-bedroom homes in the south-eastern suburb of Clayton South.
Cedar Woods state manager Patrick Archer said, “town homes are a great option for first home buyers as they are affordable, low maintenance and provide excellent investment opportunities for young buyers.”
Emily Vuong, a 25-year-old teacher, recently purchased a three-bedroom town home in the recent Grove release at Jackson Green.
Ms Vuong, who has always lived in the Clayton area, was only able to purchase the town home after teaming up with her boyfriend and parents.
“I would never have been able to purchase a property myself. By teaming up with my boyfriend and parents I was able to purchase a property that is a strong investment for my future,” said Ms Vuong.
“From my parents’ assistance I was able to get a foot up in the property market much earlier than most of my friends, purchasing off =-the-plan allows me to save up a larger deposit before settling, reducing my overall mortgage,” she said.
Cedar Woods’ has a limited number of town homes and apartments still to be released at Jackson Green.