Settlements on the first stage of residences in Predella’s Parklands at Sherwood development began this week. The finishing touches are being completed ready for the first set of residents to move into stage one, which comprises 17 villas, 11 individual homes and 28 apartments. Despite forecasts of a recession, purchases have been taking advantage of the Federal Government’s First Home Buyers Grant to get into the equivalent in savings for first home buyers.

To kick start some purchases into the property market, Pradella is offering no stamp duty, is wavering the body corporate fee for the first year and offer a $20,000 cash rebate upon settlement on their range of two-bedroom apartments at Parklands at Sherwood.

Director of sales and marketing Ross Higgins said they felt the need to lend every assistance possible to support first home owners to get into the residential property market.

“A significant kick start to buy your first new home is a fantastic incentive and will hopefully allow young Australians and families the opportunity to finally get their foot in the property door, turning the dream of owning their home into a reality,” Mr Higgins said.

Property analyst Michael Matusik of Matusik Property Insights said the more people succumb to the hype about the never ending economic disaster the slower any recovery will be.

“In reality with continued population growth and a growing undersupply of stock, house prices are very well supported and are likely to start growing in 2009,” Mr Matusik said.

“No doubt it’s a buyers market; prices are weak at present and with forecast growth in 2009, this is the time for strategic purchases to capitalise.

“The fact is, other than a few weak spots at the top of the market, with declining interest rates and an enormous deferral fiscal stimulus package, the Australian residential market is stable.”

Mr Higgins said Pradella was still confident in the market and with 50 years of building in Brisbane, the developer has always stayed strong, even in slow periods.

“We understand it’s been a tough year (2008) for people and that the current economy is quiet volatile, however it’s not all doom and gloom,” he said. “If you invest smartly, in the right area and with an establishment, trusted company who has a history in economic uncertainty, the likelihood is that you will make secure long-term returns.”

Parklands at Sherwood is one Pradella development that is going full steam ahead with stage two already under construction.

Spread over 8.5 hectares with 3.7 hectares devoted to public parklands, the development is just eight kilometres from Brisbane CBD.

The stylish development captures the green, leafy feel of the suburbs with many of the residences boasting views of the green park from which the development takes its name.

Designed by renowned architects Bligh Voller Neild, all the homes have been designed to the highest to the highest standard and boast quality fixtures and fittings throughout. A neutral colour palette allows personal taste and style to seamlessly blend in with the home and wide open plan living areas promote a free-flow. These open-plan spaces spill out to al fresco entertaining areas, instantly extending the living areas and promoting and indoor-outdoor lifestyle. All residents have access to a range of recreational facilities including a gymnasium, 20-metre lap pool and wading pool, barbecue pavilions and a multi-purpose entertainment room, all in the one convenient location overlooking the park.

Currently a range of one, two and three-bedroom apartments are available priced from $379,000 for a one bedder, from $479,000 for two bedrooms and from $729,000 for three-bedroom dwellings.

Three-bedroom villas, which are spread across two functional levels, are priced from $779,000, while the luxury four-bedroom individual homes are priced from $835,000.

For more information visit www.parklandssherwood.com.au