Here’s why we’re doing our part for first home buyers at Orana

Posted in: Community

At this very moment, thousands of Victorians are chasing the long-standing Australian dream – to own their own home. This is a place where they can build a future and give their family room to grow and flourish for years to come.

Unfortunately, this is a dream that over the last 18 months has grown further out of reach for a lot of hopeful homeowners. On the back of low interest rates and the sudden appeal of more space, escalating demand for homes – both to inhabit and invest in – has led to a significant lack of supply. According to a recent CoreLogic report, for every new listing added at the moment, 1.1 homes are sold.

In fact, here at Balcon, we are seeing firsthand just how unprecedented the market is at the moment. According to our Development Manager, Jason Shaw:

“We’re in the midst of a crazy housing boom where there just aren’t enough homes going around. On our side of things, we’ve seen demand for blocks of land almost double since the pandemic.”

Balcon Group has spent the better part of forty years developing places people love to live. With the ability to provide beautiful neighbourhoods where people can lay down their roots for the future, we recognise that we have an opportunity to play a helpful part in this housing shortage.

It’s for this reason that we have decided to prioritise owner occupiers in future selected stage releases, to ensure the dream of entering the housing market is achievable for families chasing the Australian dream of owning their own home.

A community we are currently bringing to life in Victoria is Orana. Inspired by an indigenous word meaning ‘welcome’, Orana embodies the ideals of harmonious, vibrant, community living in a beautifully landscaped urban setting that retains its connections to the natural environment. Orana in Clyde North presents the opportunity for future residents to create their best life, paving a clear path to home ownership.

For Jason, it is a matter of giving people the chance to either become homeowners for the very first time, or upgrade to a home that can house their growing family.

“We’re trying to give people the opportunity to access the housing market and purchase their own home,” says Jason. “We’ve never seen demand like this before, and first-home buyers especially are at a disadvantage due to their lack of market experience. As experts, this is where we can help them – by giving them priority access.”

Orana is set to become the biggest community in South-East Melbourne. It promises to be a fusion between a thriving retail destination and beautiful wellness haven, featuring more green space than Melbourne’s Royal Botanical Gardens. We have already seen stage releases sell out in record time and our aim is to see this interest in the community blossom into exciting purchases for families who are ready to experience the Orana way of life right now.

“We love that people want to invest in Orana’s future, but we’re also excited to be granting access to future residents who want to be a part of the magic now. Families who are eager to join the Orana neighbourhood as soon as they can and enjoy the sense of space and interconnection that already exists,” says Jason.

At Balcon Group, we are committed to developing healthy, happy, and sustainable communities in Melbourne’s South-East, where our family-owned business first began. We are also committed to bringing Victorian families one step closer to being a part of these communities, making their very own Australian dream a reality.

To stay up to date on upcoming stage releases at Orana, register your interest here.