DEMAND HIGH FOR TWEED COAST LAND

Written on the 29 November 2012

DEMAND HIGH FOR TWEED COAST LAND

SEASIDE recorded $27.5 million sales for 108 lots in 2012, more than 60 per cent of the total stock.

There are 20 beachside lots remaining at the $750 million Tweed Coast development, after all 47 creek side home sites, plus 31 lots in its beachside area sold.

The developer expects the remaining beachside lots, ranging in size from 491sqm to 620sqm, to sell over Christmas.

Seaside is being marketed by Ray Real Estate and Colliers International.

Ray Real Estate sales agent Bruce Williams says New South Wales Government incentives for first home buyers of more than $15,000 have boosted sales and with lots starting from $260,000, Seaside is considered an affordable coastal location.

"To sell more than half of the residential land developer stock in a 32 hectare, master planned community in just 12 months is a phenomenal result in any market, but it's an even more remarkable achievement considering the Tweed is still rebuilding from its market lows and a long way from any market peak which was seen a few years ago," says Williams.

"We had a 100 per cent settlement rate on the first stage of creek side lots earlier this year, and we are now gearing up to settle the second stage in December this year, with similarly strong results expected.”

The first homes in stage one were completed late this year and Williams says interest from buyers has increased as a result.


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