In total, Stockland has made five major residential land acquisitions this financial year, boosting its future land supply by 4700 lots.
Some 1200 of these will derive from its latest Craigieburn acquisition, but the developer isn’t expecting these blocks to settle until about 2013.
The move is part of a push by Stockland to build more low-density housing.
Elsewhere in the area, a newly formed development company directed by two former Stockland executives, Matthew Belford and Jeffrey Garvey, have launched the Fairview housing estate, at 300 Bridge Inn Road, Mernda.
Integrated Development is marketing the first 64 blocks within a 330-lot estate, to be known as Fairview.
Oliver Hume Real Estate Group selling agent Harvey Carretero said prices start at $161,000 for the smallest 300 square metre blocks, and rise to $240,000 for the largest 650 square metre block.