14 Mar 2025

YourLand celebrates practical completion of Officer Central development

YourLand is pleased to announce the practical completion of the final stage of Officer Central, a significant milestone for this 491-lot residential development that spans 12 stages in Melbourne's southeastern corridor.

Located in a highly sought-after pocket of Officer, this achievement marks the final piece of the puzzle in the southern precinct of the Officer PSP Zone. The development has already attracted over 500 residents and when fully occupied, Officer Central will be home to an estimated 1200+ residents, contributing to the area's dynamic growth.

The appeal of Officer Central lies in its strategic location and abundant amenities. Residents enjoy a life of convenience with 18 schools within a 5km radius, numerous parks, walkways, and green spaces all within walking distance. The community also benefits from several sports clubs within 2km, as well as new swim school and childcare facilities in the nearby Officer Fields development by YourLand.

The completion of Officer Central comes at a crucial time for Melbourne's property market. The suburb of Officer has experienced remarkable population growth, increasing by 159% from 2016 to 2021, and continues to expand. This growth is reflected in the area's property values, with median house prices seeing a 28% increase over the past five years.[1]

As part of the development, YourLand, in partnership with Spiire and Winslow, has undertaken significant infrastructure upgrades to enhance connectivity and accessibility, including upgrades to 2km of major external roads and the design and delivery of a roundabout intersection. These infrastructure investments not only benefit the residents of Officer Central but also contribute to the broader community's development.

Andrew Jones, Head of Development - Communities at YourLand, commented on this achievement: "We're proud to complete this final piece of the puzzle at a critical time for the housing market. Despite industry-wide challenges, Officer Central meets the growing demand in Melbourne's south-east corridor, reinforcing our commitment to creating thriving communities and leaving a positive legacy."

With the practical completion of Officer Central's final stage, YourLand continues to demonstrate its commitment to meeting the needs of Melbourne's expanding population while creating sustainable, well-connected neighborhoods.

Read more on Officer Central.

 

[1] ABS 2021 census and Corelogic suburb profile data

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05 Mar 2025

Building communities and careers: Penny Coia on leadership in property development

In honour of International Women’s Day this year, we’re excited to shine a light on one of our most inspiring female leaders, Penny Coia. As the Senior Development Manager at YourLand, Penny has dedicated 20+ years to the property and construction industry, consistently delivering exceptional results and earning respect through her expertise and professional accomplishments in a traditionally male-dominated field. We sat down with Penny to explore how her career journey exemplifies how investing in female talent within inclusive workplaces can truly accelerate progress for the industry.   Can you share a bit about your career journey to date? Right from my early days as a Landscape Architect I’ve been embedded in creating places for people. Greenfields development quickly became my speciality and passion. I love every complex stage of development, from walking a paddock through to the completed community. A desire for deeper involvement and influence led me to my current role as Senior Development Manager. I’m proud to be among an ever-growing cohort of amazing women thriving in this fascinating and complex industry.   How have inclusive professional environments enabled your career growth, and what does true workplace equity look like in practice? On International Women’s Day there can be a tendency to emphasise that being a woman will hold you back. This isn’t my experience. Working in this industry is challenging for many reasons, but I’ve been fortunate that I don’t attribute any of these to being a woman. Returning to work after two career breaks for babies have been supported by a workplace with an established acceptance of part-time staff in senior roles. And returning to full time work was supported by my husband who shares the juggle. This is only possible because his workplaces have been supportive of working from home and flexible hours. I have also had the privilege to work in companies that have women in leadership roles and that are actively aware that a diverse workplace is good for staff retention. And interactions with authorities, other developers, consultants and contractors have overwhelmingly been free of misogyny. I sincerely hope that my experience is the norm.   Imposter syndrome is a common challenge many women face in male-dominated industries. Can you offer advice on how women can overcome it? I often marvel at some of the insightful things I can say and write and reflect on how far my skills have developed. I really know things! It’s important to have a little internal celebration and take pleasure in a confidence boost regularly. And to recognise that everyone is winging it at least some of the time.   What advice would you give to young women aspiring to enter property and construction? Development is a massively diverse industry, you’re sure to find something that suits you. And there are so many fabulous places to work, don’t tolerate a workplace that you don’t feel comfortable in. You have control over how you react in any situation. Don’t be cowed by a forceful personality.

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18 Feb 2025

Interest rate cuts and the Australian property market – how to maximise the benefits of these changes

The Reserve Bank Board met today to determine the official cash rate target, which has now been lowered by 25 basis points, down to 4.10 per cent.  Several banks and lenders have already reduced rates in anticipation of this announcement. For prospective property owners, this is positive news in the short term, as rate cuts offer a window of opportunity to act on improved borrowing power, making it easier to enter the market. However, buyers should recognise that rate cuts may increase competition, particularly in popular metro areas. Better affordability typically drives more investor activity, potentially driving property prices up.  We urge buyers to act quickly to take advantage of current market offers and to have a well-planned loan strategy with pre-approvals lined up to stay competitive. Rates cuts will provide immediate relief to existing homeowners with variable-rate mortgages by lowering repayments and increasing household cash flow. Homeowners may also find this an opportune time to review existing loan structures and consider refinancing for a more competitive rate. With a 0.25% rate cut, borrowers with a $700,000 mortgage would save $113 monthly or $1,356 annually. Those with a $900,000 loan would see monthly savings of $145, amounting to $1,740 in annual savings. These calculations assume a 30-year loan term with rates decreasing from 6.25% to 6%. To maximise the benefits of these rate cuts, we recommend aspiring and current property owners prioritise:

1. Refinancing Opportunities – Now is the time for borrowers to assess their loan structures and explore better deals.
2. Locking in Competitive Rates – While rate cuts offer immediate relief, fixing a portion of your loan at historically low rates could provide longer-term certainty.
3. Strategic Investing – Lower interest rates can enhance investment opportunities, but buyers should remain focused on high-growth locations with strong fundamentals

Ultimately, while lower rates are positive, buyers and homeowners should approach decisions with a long-term strategy in mind. To further assist first home buyers, it has recently been announced that banks will be allowed to overlook HECS-HELP and other student loans in debt calculations for home loans. This was something that Ello Lending Co. advocated for in its submission to the Senate Inquiry on Australia’s Financial Regulatory Framework and Home Ownership. The change could provide another boost to borrowing power and simplify the process of applying for a loan, reducing some of the barriers to homeownership for many Australians. Established in 2022 by YourLand Developments, Ello Lending Co. is a mortgage broking service that specialises in off-the-plan loans. With unanimous 5-star reviews across Google, and recently shortlisted as a finalist in The Adviser’s Better Business Awards 2025, Ello Lending Co. helps future homeowners navigate the unique requirements of land and construction finance. The team of experienced mortgage brokers at Ello Lending Co. have access to competitive rates and provide a personalised service, making it easy for you to find the perfect loan for your needs. To find out more about Ello Lending Co., visit www.ellolending.co or if you would like to reach out to the team directly, please call 0475 753 705 or complete a contact form on their website here and a member of the team will be in touch.   Ranin Mendis – Managing Director, Ello Lending Co.

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