- Development to be midway between Brisbane and Sunshine Coast
- Approved for 2,500 homes
- House prices have skyrocketed for Morayfield, up 39.1% in the last 12 months
Lendlease is set to build a $500 million residential community called Kinma Valley in the suburb of Morayfield, midway between Brisbane and the Sunshine Coast.
Expected to be home to over 6,500 people, the land has been approved for up to 2,500 new homes alongside an approximately 31-hectare central green corridor.
Currently, for Morayfield 4506, some 266 properties are on the market and has been trending downward ever since 2017-2018, according to SQM Research.
The development is said to have a healthy outdoor living focus, with 12 parks and over six kilometres of walking and cycling parks to be built as part of the Lendlease development.
The community will also see adventure playgrounds built, and paths interconnected with the central nature reserve.
SQM Research shows prices for houses in the Morayfield postcode to have risen to almost $600,000 for all property types, a 0.9% increase for the month, and 9.8% increase for the quarter. Change over the past 12 months is 39.1%.
Units, however, have seen prices dip, with the monthly change seeing prices dip 1.3%, and lower by 9.1% for the quarter.
“Our vision for Kinma Valley is to not only create a market leading sustainable community that meets the needs and aspirations of homebuyers but to build a sense of belonging and connection to our newest community,” said Lendlease managing director, communities, Matthew Mears.
“The natural aspects will be one of the biggest drawcards for home buyers with the development offering incredible views to the Glasshouse Mountains, family-friendly neighbourhoods and green open spaces.”
The name Kinma comes from the Kabi Kabi First Nation Peoples language which translates to ‘awake,’ capturing the spirit of a community that promises new beginnings and the opportunity for happiness and wellbeing.