June 13, 2023

In The Press – Interest Rates Set to be Trimmed for ‘Green Loan’ Buyers at Preston Place

News & Insights
This article first appeared on REA, written by Lisa Calautti, Property Journalist.

Eager buyers are welcoming the opportunity to embrace sustainable living at Preston Place, an eco-conscious townhouse community in Preston.

Preston Place features 4000sqm of private parkland, with each townhouse equipped with enough solar panels to offset 100% of its estimated annual gas emissions.

Stage 1 of the development, which is located north east of the Melbourne CBD, has sold out, and stage 2 was launched last month.

The community’s first residents are set to call Preston Place home in December.

As part of its commitment to sustainability, Developer Metro Property Development has teamed up with Sustainability Victoria in the development of Preston Place, and are giving buyers an opportunity to qualify for green loans, which offer lower home loan rates.

Preston Place offers two, three and four bedroom designs. Picture: realestate.com.au

Green loans provide homeowners with financial incentives and reduced interest rates for investing in environmentally friendly features and initiatives within their homes, with a green loan at Preston Place saving buyers between 0.5% and 0.75% off the rate of a typical home loan.

The development gives buyers an opportunity to qualify for lower-rate green loans. Picture: realestate.com.au

“Preston Place represents an extraordinary opportunity for homebuyers to embrace sustainable living and contribute to a more environmentally conscious society,” said Metro Property Development manager for Victoria, David Steele.

“Through this partnership, we aim to empower homebuyers to make a positive impact on the environment while enjoying the benefits of lower home loan rates and a thriving, connected community.”

Townhouses at Preston Place have been designed to achieve net-zero emissions. Picture: realestate.com.au

Mr Steele said creating homes which lasted longer that were better for the planet and its occupants were part of his company’s DNA.

Designed by Clarke Hopkins Clarke, each townhouse at Preston Place features sustainable heating and cooling systems, energy-efficient appliances and LED lighting.

They have been designed to achieve net-zero emissions, providing a comfortable living environment while significantly reducing energy consumption.

4000sqm of private parklands surround the homes. Picture: realestate.com.au

Townhouse configurations include two, three and four bedroom designs.

Other features include a future proof design including being EV ready, a 10 year building guarantee, a 52 week defect period, no gas, a high thermal performance and a 7 star NatHERs rating.

The only residential address in Preston on the Darebin Creek, residents can enjoy their own private park.

There is also a private barbecue pavilion with a community garden overlooking the Darebin Creek corridor.

Gardens and the landscape design are the brainchild of Akas, and enhance the natural beauty of the community, while offering residents a picturesque outdoor space.