Lennox Head residential Epiq sales

An 80 hectare beachfront site in Lennox Head has sold 51 residential homesites in the first release stage for a total of $11 million.

The Epiq residential development will eventually hold some 480 homesites, a shopping centre and playing fields.

Prices range from $230,000 to $310,000 for lots ranging between 600sqm and 900sqm.

Managing director of Clarence Property, Peter Fahey, said beachside land on the NSW north coast is in chronic undersupply, despite the market returning to a level where purchasers are willing to pay a lifestyle premium.

"The Tweed and Ballina coastal corridor is more aligned with South East Queensland activity than most people realise, with values and buyer demand shadowing this region - which is on the upswing - more closely than southern markets," he said. 

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