Colliers International Inundated by First Home Buyers

Australian Capital Territory, Australia, August 20, 2009 --(PR.com)-- Colliers International sold 38 established townhouses in less than 48 hours, located in the popular suburb of Pearce.

The boutique development lured an unprecedented number of buyers and resulted in the sale of all units mainly to first home buyers looking at getting into the Canberra market.

Designed by Gary Willemsen, the two and three bedroom townhouses featured a mix of single and double garages and were cleverly designed to take advantage of the open parklike setting.

The development sits nestled overlooking the Pearce Neighbourhood Oval and is a mere 750 metres from the Phillip Business District.

Derek Whitcombe, Director of Residential Project Marketing – Canberra, said there was a waiting list of over 100 potential buyers in the event that any came back onto the market.

Priced between $368,000 and $425,000, Colliers International has amassed a large list of first home buyers and investors desperately seeking to get into the popular inner Woden location.

The success of the Pearce development comes quickly after Colliers International and PRD Nationwide accounted for 152 apartment and townhouse sales in the ACT in the last eight weeks, prices ranging from $368,000 to $1.25 million.

Mr Whitcombe said the enquiry rate across the board was higher than he had seen for 18 months and indicated that low interest rates, investor confidence and the First Home Owners Grant and bonus were driving the real estate market in the ACT.

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