Major milestone for affordable housing in Adelaide as Peet completes Woodville Rd development [Video]

Leading Australian property developer Peet has reached a major housing milestone with the sale of all 185 homes at its Woodville Rd residential development.

Achieved in just 18 months, the success includes an impressive 84 homes dedicated to long-term affordable housing, three times higher than the State Government requirements set for developers.

Buyers on a budget were, on average, able to save $210,000 for units and $286,000 for terrace homes.

According to PropTrack, Adelaide’s median unit price currently sits at $540,000, while houses sell for a median price of $795,000.

Peet Managing Director and CEO Brendan Gore said the project, which was delivered in partnership with the SA Government, served as a powerful example of how developers could effectively contribute to addressing housing affordability challenges.

Tempo apartments on Woodville Rd.

“We are incredibly proud of what we have achieved at Woodville Rd. Thinking differently about how we plan and design communities is going to be …