Strong growth witnessed across Pask’s communities

Strong growth witnessed across Pask’s communities

When selecting a suburb to build a new development, Pask are very selective in ensuring each location meets its benchmarks to create timeless communities that will uphold the “Places for Generations” vision.

Pask’s meticulously planned projects in Rowville, Frankston South and Greenvale are perfect examples of the careful consideration taken in selecting premium sites for new development.

These suburbs have been the beneficiaries of consistent residential growth, benefitting from a raft of established amenity inclusive of top-tier schools, progressive shopping precincts and recreational hubs, all of which impact positively upon real estate growth.

Greenvale, the location of Pask’s, ‘The Maples’ estate, has recently experienced an impressive quarterly price change of 13.6% (REIV, 2022). This price increase has seen the median sale price for the suburb now exceed $1 million (REIV, 2022). In the two-year period from Q2 2020 to Q2 2022), house prices in the area have seen growth in excess of 26% (REIV, 2022).

Property markets will fluctuate over time but sought after locations, with quality infrastructure, will stand the test of time. Greenvale’s scarcity of future new housing supply and exciting rapid infrastructure development continues to offer increased amenities on the doorstep of residents.

A new Catholic primary school, Mary Queen of Heaven is being built in Greenvale located within The Maples estate, with the doors set to open in January 2023; an exciting prospect for new families in the area and residents of The Maples alike.

Residents of The Maples will also be the beneficiaries of a $209 million Mickleham Road upgrade, set to drastically improve safety and travel time for this busy stretch of road (Victoria’s Big Build, 2022).

Although well established and home to over 600 residents, the opportunity to purchase within The Maples estate has not lapsed, with 3 stages still yet to arrive on market.

If you’re chasing a sea-change, Frankston South is another suburb which continues to glisten in the current real estate market, whilst also heightening its position as an address of distinction.

Pask’s new development, ‘Stotts Hill’, is a unique offering in the area, with the first release of this exclusive estate of only 44 large lots now available. In a suburb as tightly held as Frankston South, opportunities to purchase in this area are becoming increasingly scarce, making Stotts Hill an alluring prospect.

Frankston South recorded an annual median house price increase of 24.2% (Realestate.com.au, 2022), an impressive result and a significant confidence boost for those who will be fortunate enough to call Stotts Hill home.

Additionally, a quarterly price rise for Frankston South has positioned its median sale price above that of metro Melbourne, although this is just one element amongst a multitude of positive amenities that Frankston South provides.

Conveniently positioned and perfectly surrounded by stylish retail precincts, shopping centres and top-tier schools, Frankston South offers a great lifestyle, on the doorstep of the Mornington Peninsula, for all demographics.

Stotts Hill is centrally located to many of these offerings, with Bayside Christian College, Mt Erin Secondary College and Kingsley Park Primary School all within 2kms of the development.

A short 10-minute* drive (*drive times based on distance) lands you in the centre of Frankston City, home to three shopping centres and a growing number of stylish cafes and bars.

Stotts Hill’s convenient access to Peninsula Link also offers a significant advantage to easily access the region’s world class dining and wineries.

Rowville, home to Pask’s ‘Bankside’, has recorded one of the highest clearance rates in Victoria for the latest quarter, at 94% (REIV, 2022).

The median house price in Rowville has also seen an increase of almost 22% (Realestate.com.au, 2022) over the past 12 months.

Set across the former Kingston Links Golf Course, Bankside is set to create a community of over 650 homes. With construction still in its early stages, there are still prime opportunities to purchase within this exciting new project.

Complemented by the picturesque Corhanwarrabul Creek this development offers residents tranquility only 35 minutes from the CBD.

As part of the construction process, Corhanwarrabul Creek will be restored by Pask evolving into a thriving wetland and habitat for local species.

Bankside has been meticulously planned to integrate these wetlands and promote health and wellbeing, providing a planned 1.7km walking path which celebrates the native wildlife and vegetation.

A raft of amenities sits in close proximity to Bankside, including the Stud Park Shopping Centre, while Rowville’s more boutique and contemporary hospitality offerings continue to expand.

Lunch at the historic Stamford Park Homestead to Italian dining at San Lorenzo and craft beers at the Project Brewing brewery, are but a few of the impressive options in this emerging foodie hub.

Pask always strives to select prime development locations that offer residents more than just a home to live in.

Ensuring that all aspects of a fulfilled life are satisfied by the amenities that surround these developments, Pask invests over 50 years of experience in every project to maximise their potential and deliver premium communities that provide a rewarding lifestyle and long-term investment.

Want to know more about Pask’s developments in these areas, visit the website and follow the prompts to our projects page.

Keep up to date on these projects by following Pask on Instagram.