Stockland launches Willowdale as part of $1 billion East Leppington residential development

Stockland will release the first stage of its new Willowdale development in the south-west Sydney suburb of Denham Court this weekend.

Willowdale is part of the larger $1 billion residential development in the East Leppington precinct.

Willowdale will ultimately comprise of approximately 3,000 homes across a 350-hectare site, with the first stage of 49 lots to be launched on August 17.

Lots range in size from 350 square metres to 600 square metres and start at $229,000.

Willowdale is located 1.5 kilometres from the future Leppington train station, which will be part of the upcoming south west rail link.

Residents will have access to a local shopping centre, 25 hectares of open space and a primary school.

Willowdale will go to market as one of Stockland’s higher margin projects, as the company looks to broaden its market reach by expanding its medium density offering.

The Stockland managing director Mark Steinert has described the past year as a "trough" year for Stockland as it reported its results for the year ending 30 June 2013 with its underlying $494.8 million profit, down 27% on the previous corresponding period.

"This has been a challenging year and we have responded with a number of important strategic decisions that position our business for stronger future returns," says Steinert.

Stage two release dates are yet to be announced.

The median house price in Denham Court is $1.2 million, according to RP Data.