Smithfield estate expanding to keep up with buyers
Land at Smithfield is being carved up to meet the demand for residential housing.
Canopy’s Edge sales agent Tony Clarke said the next two stages of the estate had been brought forward after an increase in buying activity.
Boasting bigger blocks and wider streets, Mr Clarke said there had been a flurry of buyers for stages 5C and 3B.
“Sales in calendar 2011 were at an all-time high and the first six months of this year were at an even higher rate,” he said.
“Therefore to meet this increased buyer demand we need more blocks now.”
The estate, opposite the Smithfield Centre, will have 230 home sites developed in the next 12 years.
“We are midway through this process. The next two stages are under construction now.
“There are 30 blocks in these two stages and again there is something for everyone.”
Mr Clarke said there were a range of lots including elevated blocks with views.
He said the minimum land size at Canopy’s Edge was 600sq m.
“Most new developments now start from as small as 450sq m and have narrow roadways.
“Ours starts from 600sq m which makes the estate feel not so crowded and the wider streets also make the estate feel more open, especially in Cairns where the creation of breezeways is important.”
With lots starting at $200,000, Mr Clarke said million-dollar homes had been built in the estate community.
“Canopy’s Edge estate really is all about location, location, location,” he said.
According to RP Data, the median price in Smithfield for houses on less than 650sq m is $320,000.
This compares with the median price for the Cairns region, in the 12 months to June 2012, which sits at $265,000.
There was a significant increase in Smithfield house sales in March 2012.
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Increased demand: Blocks are being fast-tracked at Canopy’s Edge to keep up with buyers.