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15-11-2015, 12:26 AM
SALES BRING LAND RUSH
Jane Pinder
558 words
14 Nov 2015
Courier Mail
COUMAI
English
Prices are still steady, but major developers are bringing projects forward to meet rising buyer demand for new housing lots, writes Jane Pinder
THE demand for new housing lots on the Gold Coast has seen sold-out and fast-tracked releases from major developers.
According to State Government figures, new lot sales in the year to March were the highest they have been in five years.
In the past two years there was a 138 per cent increase in the sales of new lots on the Gold Coast, from 760 to more than 1800, although sales were a long way from the record of 3825 in 2007.
Over the same two-year period there was a 17 per cent drop in the total stocks of residential lots ready with development approval, from more than 10,000 to about 8300.
The quarterly Master Builders Survey of Industry Conditions found more than half the respondents from the Gold Coast cited the lack of land availability as a problem, although the median price for vacant land has held steady at about $230,000.
On the ground, major developers Stockland, AVJennings and QM Properties have seen the demand materialise into sold-out and fast-tracked new land releases.
Stockland’s Ormeau Ridge, Highland Reserve at Upper Coomera and Riverstone Crossing have brought land releases forward more than six months ahead of schedule in some cases.
The three communities represent a total of more than 2800 home sites once complete.
At Ormeau Ridge, Stockland has brought forward two stages that were planned for release next financial year to accommodate the demand for home sites. The community, launched in 2010, has seen 16 new families moving in each month.
Stockland regional manager David Laner said the increasing demand was a result of improving affordability as interest rates remained low and southeast Queensland price growth continued to lag behind southern states.
“Buyers are also focusing on all the extra services and infrastructure coming to the northern (Gold Coast) growth corridor,” he said.
AVJennings has found home sites are achieving some of the fastest sales rates of any property type on the Gold Coast, with the developer selling out of two major land releases within days of their launch.
Contracts were taken on all 45 home sites in the recent Taurus and Capella releases at its Big Sky community in Coomera, for a total of almost $11 million, prompting the early release of another 40 lots to the market.
AVJennings Queensland general manager Rod Chadwick said there was an increasing shortage of land available across the city, when compared with established homes and apartments, so buyers were starting to pre-register for lots.
“There’s fierce competition among buyers to secure new land, because there are plenty of young couples and families on the Gold Coast who want to build their own home and realise that they need to act quickly so they don’t miss out on their preferred block,” he said.
QM Properties sales manager Damien Ross said stage one of Pacific Cove community was close to sold out.
“We released Pacific Cove on July 31 and have since sold 60 allotments,” he said.When complete, the estate will feature 500 home sites, plus duplex and townhouse sites, and a display village due to open in 2016.
News Ltd.
Jane Pinder
558 words
14 Nov 2015
Courier Mail
COUMAI
English
Prices are still steady, but major developers are bringing projects forward to meet rising buyer demand for new housing lots, writes Jane Pinder
THE demand for new housing lots on the Gold Coast has seen sold-out and fast-tracked releases from major developers.
According to State Government figures, new lot sales in the year to March were the highest they have been in five years.
In the past two years there was a 138 per cent increase in the sales of new lots on the Gold Coast, from 760 to more than 1800, although sales were a long way from the record of 3825 in 2007.
Over the same two-year period there was a 17 per cent drop in the total stocks of residential lots ready with development approval, from more than 10,000 to about 8300.
The quarterly Master Builders Survey of Industry Conditions found more than half the respondents from the Gold Coast cited the lack of land availability as a problem, although the median price for vacant land has held steady at about $230,000.
On the ground, major developers Stockland, AVJennings and QM Properties have seen the demand materialise into sold-out and fast-tracked new land releases.
Stockland’s Ormeau Ridge, Highland Reserve at Upper Coomera and Riverstone Crossing have brought land releases forward more than six months ahead of schedule in some cases.
The three communities represent a total of more than 2800 home sites once complete.
At Ormeau Ridge, Stockland has brought forward two stages that were planned for release next financial year to accommodate the demand for home sites. The community, launched in 2010, has seen 16 new families moving in each month.
Stockland regional manager David Laner said the increasing demand was a result of improving affordability as interest rates remained low and southeast Queensland price growth continued to lag behind southern states.
“Buyers are also focusing on all the extra services and infrastructure coming to the northern (Gold Coast) growth corridor,” he said.
AVJennings has found home sites are achieving some of the fastest sales rates of any property type on the Gold Coast, with the developer selling out of two major land releases within days of their launch.
Contracts were taken on all 45 home sites in the recent Taurus and Capella releases at its Big Sky community in Coomera, for a total of almost $11 million, prompting the early release of another 40 lots to the market.
AVJennings Queensland general manager Rod Chadwick said there was an increasing shortage of land available across the city, when compared with established homes and apartments, so buyers were starting to pre-register for lots.
“There’s fierce competition among buyers to secure new land, because there are plenty of young couples and families on the Gold Coast who want to build their own home and realise that they need to act quickly so they don’t miss out on their preferred block,” he said.
QM Properties sales manager Damien Ross said stage one of Pacific Cove community was close to sold out.
“We released Pacific Cove on July 31 and have since sold 60 allotments,” he said.When complete, the estate will feature 500 home sites, plus duplex and townhouse sites, and a display village due to open in 2016.
News Ltd.