LOCAL BUYERS SNAP UP LATEST STAGE OF THE ROCHEDALE ESTATES

BUYERS have snapped up more than half of the fifth stage at Aveo's (ASX:AOG) $380 million masterplanned community in Brisbane's south.

The Sydney-based property group has sold 68 lots out of 120 in The Grange at The Rochedale Estates, bringing total sales to more than 600 since the development launched in 2011.

The Rochedale Estates senior development manager Troy Thompson says the central location combined with residential resort-style living was driving sales.

He says a number of buyers have been opting to upgrade to a new home, while taking advantage of nearby shopping precincts, educational facilities and public transport.

"People are buying into an established, leafy community with lifestyle facilities in place and that has had a positive effect on sales momentum," Thompson says.

"Most local buyers have come from within 15 kilometres of the estate, particularly from suburbs like Eight Mile Plains, Sunnybank and Carindale.

"Being just 15 kilometres from Brisbane means residents have ready access to the CBD and its conveniences while being in an affordable and family-oriented community."

The Rochedale Estates features a $5.5 million lifestyle centre with two swimming pools, two tennis courts, a fully equipped gymnasium, café, barbeque facilities, function room, business centre, residents' lounge and theatre.

Surrounded by 35 hectares of native bushland reserve, the project features a range of walking and cycling paths as well as tailored community parklands with picnic areas and playgrounds.

Work is expected to commence this year on a shopping village as well as the Town Centre, which will be located around 800 metres from the estate.

Lots in The Grange at The Rochedale Estates range from 323sqm to 865sqm, with prices starting from $400,000.