Sales flurry sees Cedar Woods bring forward third release of Greville terraces in Brisbane's Wooloowin

A $21.5 million sales rush at the Cedar Woods masterplanned community Greville has seen the national developer bring forward the release of its third stage of townhomes.

The townhouses will be part of the $180 million masterplanned Greville community, five kilometres north of Brisbane.

The first two stages were particularly popular with local buyers. The latest release will see 10 terraces available from $809,000.

There was a flurry of sales when Cedar Woods announced they'd appointed the regarded builder Condev Construction, who will commence construction of the first release of townhomes in the next few months.

Cedar Woods development director Peter Starr said buyers are lining up to secure a brand new terrace home within close proximity to the CBD which prompted the decision to bring the third release forward.

“With just ten terrace homes in the third release, there is limited opportunity in this new release at Greville, and within the broader Wooloowin area, and any new supply is being snapped up quickly due to increasing buyer demand," Starr said.

“Wooloowin is an increasingly sought-after suburb for its location, with a median house price of $935,000 according to Core Logic, and solid growth record, which has seen prices jump 15 per cent in the past year alone.

“Releases one and two have been popular with mostly local purchasers who love living in Wooloowin and want to reinvest in the neighbourhood, or who are downsizing from surrounding suburbs.”

Condev will be creating the wider masterplanned community which will home 84 terraces, 189 apartments across the towers and the adaptive re-use of the 1889-built heritage laundry into seven residential dwellings, as well as a 4,000 sqm parkland.

Release three is set to offer one of Greville's most popular floorplans known as the Miller.

“The Miller has all living and entertaining areas on the ground floor, opening on to an expansive private courtyard, with three bedrooms and a multi-purpose room upstairs, which can function as a fourth bedroom or study,” he said.