In a significant development for the real estate sector, Peet, a leading Australian property developer, has unveiled ambitious expansion plans for its Bluestone Estate located in Mount Barker. This announcement, made on February 14, 2024, marks a pivotal moment for the home-building industry in the region, promising to significantly enhance the local housing landscape.

Mount Barker, known for its vibrant community and picturesque settings, is on the cusp of a residential boom. Peet’s latest initiative will introduce an additional 200 lots to the Bluestone Estate, positioned strategically along Wellington Road. This expansion, scheduled to commence from the middle of the year, centers around the introduction of the estate’s newest precinct, named Frederick Park, in homage to the area’s rich history and its connection to early settler Frederick Stone.

This expansion is a response to the updated population forecasts released by the Mount Barker District Council earlier in the year, which highlighted an accelerated growth rate within the region. The forecasts predict an influx of 1,779 new residents in 2024 alone, with expectations of over 7,000 new inhabitants within the next five years. This demographic surge is anticipated to elevate Mount Barker’s total population to 44,772 by year’s end, with projections reaching up to 50,175 by the close of 2028.

Peet’s Chief Executive and Managing Director, Brendan Gore, emphasized that this new land release follows a year marked by considerable construction activity within the area. The Frederick Park precinct is set to offer a diverse range of lot sizes, catering to a broad spectrum of housing needs, from singles and couples to larger family units. In line with Peet’s vision for community-centric developments, over a quarter of the Frederick Park precinct will be dedicated to open space, significantly exceeding the standard requirements. This commitment aims to foster a vibrant outdoor community hub, enriched by the natural beauty of the surroundings.

The detailed planning of the expansion reveals that the lots will vary in size, ranging from 172 square meters to as large as 600 square meters. Furthermore, the development will introduce six new streets and feature a central reserve that spans 200 meters, incorporating numerous established trees, play areas, and community facilities. This thoughtful integration of green spaces and community amenities underscores Peet’s dedication to enhancing the quality of life for its residents.

The naming of the new estate after Frederick Stone pays tribute to a prominent figure in Mount Barker’s history, celebrating the enduring legacy of the region’s early settlers. This gesture reflects Peet’s commitment to honoring the historical context of the areas it develops while paving the way for future growth and prosperity.

The expansion of Bluestone Estate comes at a time when Mount Barker is experiencing a significant increase in housing demand. A report presented to the Mount Barker Council in October of the previous year highlighted the development sector’s robust performance, with an estimated 524 new lots created within the financial year. This figure is a testament to the area’s growth, nearly matching the previous year’s total and significantly surpassing the pre-pandemic peak of 402 new allotments.

Despite the challenges posed by the Reserve Bank of Australia’s rate increases, the report indicates that new dwelling submissions in Mount Barker remain strong. This resilience in the housing market reflects the region’s appeal and confidence in its continued growth and development. Peet’s expansion of the Bluestone Estate is poised to play a crucial role in meeting the rising demand for quality housing in Mount Barker, contributing to the area’s dynamism and attracting new residents to this thriving community.

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