Tyson Burkett from Development Victoria Market Insights

Episode 54. Market Insights: Urban's Mike Bird chat with Development Victoria, Tyson Burkett

Join Urban's CEO Mike Bird in his recent chat with Tyson Burkett, Development Director at Development Victoria, as he shares invaluable insights into the dynamic property development sector. Discover how Tyson is revolutionising the property development landscape with innovative strategies and sustainable solutions.

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Priority Access: Levelling the Playing Field
One standout initiative is Priority Access. Tyson explains how a 7-day priority access period allows pre-qualified buyers, especially moderate-income earners, to secure properties without the pressure of instant competition. This approach ensures a fair chance for buyers to select their desired townhouses, fostering an inclusive and equitable market environment.

Sustainability: Meeting Market Expectations
Tyson highlights the increasing importance of sustainability in property development. With the new National Construction Code and growing consumer expectations, sustainable homes are becoming the norm. Luma Sunshine North incorporates seven-star homes, battery storage, solar panels, EV charging, and double glazing. These features not only reduce operating costs but also cater to environmentally conscious buyers, making sustainability a competitive edge.

Location and Connectivity: A Strategic Advantage
Situated between Ginifer and Albion train stations and near Sunshine Hospital and Victoria University, Luma Sunshine North boasts a prime location. This connectivity ensures easy access to essential amenities and employment hubs, enhancing the project's appeal to both investors and residents. The proximity to Sunshine Energy Park and regional sporting facilities further elevates the site's attractiveness.

Innovative Solutions: Reducing Barriers for Buyers
In response to housing affordability challenges, Luma Sunshine North implemented a staggered deposit scheme. By requiring only a 2.5% deposit upfront and another 2.5% six months later, the initiative significantly lowers the entry barriers for first-time buyers. This customer-centric approach demonstrates Development Victoria's commitment to innovative solutions that address market demands and support homeownership.

Community-Centric Developments: Creating Holistic Spaces
Tyson emphasises the importance of developing at scale to create cohesive communities. With nearly 300 townhouses, Luma Sunshine North is designed as a self-contained neighborhood, providing a diverse range of housing options from one to four-bedroom units. This holistic approach ensures that residents enjoy a well-integrated living environment within an established suburb.

Tyson Burkett's insights underscore the need for strategic innovation, sustainability, and customer-centric solutions in property development. As the market evolves, initiatives like Priority Access and sustainable building practices position projects like Luma Sunshine North at the forefront of future-proof housing.

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