Demand remains strong for Australand's Shell Cove masterplanned community

Demand remains strong for land in Australand’s Shell Cove development, with all 11 lots in the second release snapped up on launch day.

Located on Caravel Crescent, lots ranged in size from 452 square metres to 621 square metres and were priced from $330,000 to $400,000.

It’s a continuing trend for the masterplanned community, with their first release of 10 lots also snapped up in one day back in April.

NSW residential division general manager Nigel Edgar says the recent release on Caravel Crescent was well received by local families.

“Buyers are immediately impressed with the overall vision for the Shell Cove masterplanned community and see long term value in the quality development.

“Caravel Crescent is situated in a highly sought after location, just a few streets from The Waterfront, Shell Cove, which will provide a waterfront marina lifestyle and social hub for residents and the wider community," says Edgar.

The Waterfront will include a floating pontoon, berthing for 300 boats, a public boat ramp and direct water access to the Pacific Ocean.

Located 21 kilometres south of Wollongong, the Shell Cove community will include 60 hectares of open space, a primary school, three pre schools, a community centre and an 18 hole championship golf course.

“The outstanding result achieved over the weekend further demonstrates the continuing strength of the market at Shell Cove and the overall appeal of living in the beachside masterplanned community.

“The latest release reinforces Australand’s ability to understand and respond to market demand by providing products that meet consumer expectations in terms of value and quality.

“It’s evident that with construction progressing well on The Waterfront, Shell Cove and the overall development thriving that demand for these land releases will continue to prove strong,” says Edgar.

The median house price in Shell Cove is $530,000, a 9.8% change in the past five years, according to RP Data.