Another 124 lots approved for Highfields estate
THE Avenues of Highfields has gained approval to create a further 124 lots this week, as the housing estate is hit by a surge in demand.
Toowoomba Regional Council approved two subdivision applications - one for 72 lots and the other for 52 lots - on Wednesday.
Avenues of Highfields project director Stephen Bowers said it was full steam ahead for the project.
"We've sold 88 lots in 12 weeks," he said.
Comparing that to a year ago, Mr Bowers said he was selling on average 2.6 lots per month.
Now he's up to 28.
He said the main driver was government stimulus such as HomeBuilder.
"I think the important thing is that this demand is keeping our builders and our tradies and our suppliers in jobs which weren't there before HomeBuilder came along," he said.
"You've got to remember the development industry is at an all time low in Toowoomba prior to HomeBuilder being brought on the scene.
"There's a lot of pent up demand.
"And when you've got vacancy rates in rental housing at .8%, that's an indicator there's a lot of people who would have moved to build or buy their own home that couldn't for various reasons.
"The incentive has brought out that underlying demand but what's interesting is it's not just first home buyers, it's people downsizing, it's people building second or third homes."
Avenues of Highfields now has more than off of its eventual total 532 lots approved by the council.