Mirvac’s new $130 million development Jack Road in Cheltenham, Victoria went on sale last weekend, with the 23 properties in stage one sold within hours. Construction has already begun on the 4.2 hectare master planned community which will have a range of two and three bedroom townhouses, three and four bedroom family homes, and two bedroom boutique low-rise apartments aimed at young and established families. When complete in late 2017, Jack Rd will feature 184 residences.

Shawn Cole and Brianna Pollock, first homebuyers from Doncaster East, purchased a Jack Road property last weekend after searching for eight months. The couple said the property was the biggest they'd seen at such an affordable price, and they also liked that it was within an established community.

Mirvac Group Executive Residential, John Carfi, said the strong demand for stage one showed people wanted contemporary, well-designed homes in established communities. The development is walking distance from Cheltenham Railway Station and close to Southland.