Land Sales

<p>ASX-listed developer Cedar Woods has recently opened a new sales office for its 64-hectare Mason Quarter masterplanned community in Wollert, following a surge in demand for property in Melbourne’s north.</p>

<p>Located within the fast-growing City of Whittlesea, Mason Quarter will accommodate over 800 dwellings and is located just 25 kilometres from the Melbourne CBD.</p>

<p>According to Cedar Woods’ chief operating officer, Patrick Archer, land lots continue to sell out soon after each release.</p>

<p><a href="https://www.urban.com.au/land-for-sale/wollert/mason-quarter-100-craigieburn-road-wollert" target="_blank"><img alt="" data-entity-type="" data-entity-uuid="" height="1067" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cw_masonsq_078_copy.jpeg" width="1600" /></a></p>

<p>“Land in Melbourne’s growth corridors is increasingly sought after and buyers are in a rush to get into this strong market.”</p>

<p>The new sales office will help facilitate sales and showcase the unique masterplan design that prioritises access to green space.</p>

<p>The masterplan has been designed to showcase the native vegetation on-site with a 7.9-hectare conservation reserve and over 30 distributed tree reserves with retained mature river red gums.</p>

<p>“We’ve developed a clear vision for Mason Quarter, centred around connection to nature and prioritising outdoor space.”</p>

<p>"There is a great deal of amenity in the area and with a site of this size we will be able to establish a brand-new community to enjoy it," says Archer.</p>

<p>[smartcode_project:default project_id=99962 project_image_fid=160808]</p>

<p>Located on Craigieburn Road in Wollert, Mason Quarter is designed around new and existing amenity.</p>

<p>The development includes plans for two schools, a community facility and is located within walking distance to the future Wollert town centre.</p>

<p>The project is also in close proximity to the Hume Freeway, Metropolitan Ring Road, hospitals, shopping centres and public transport.</p>

<p>[smartcode_project:default project_id=99962 project_image_fid=160810]</p>

<p>Covid safety measures are in place at the new sales office with inquiring purchasers able to book a private appointment with a sales agent.</p>

<p>Mason Quarter will be delivered over the next eight years with large 368sqm land lots now selling from $397,500, subject to availability.</p>

<p>[smartcode_project_cta: project_id=99962]</p>


According to Cedar Woods’ chief operating officer, Patrick Archer, land lots continue to sell out soon after each release

max.kwok_55688

Land sales soar in Melbourne’s north as buyers “rush” into “strong market”

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<div>It seems that Melbournites are not waiting to buy land...they are opting buy land and wait.<br><br>At least for now.<br><br>Melbourne has accelerated to record monstrous population growth in recent years, while the regions of Victoria have largely flatlined ex-Geelong.<br><br>You can make your own assessment of whether high population growth is impacting the Melbourne housing market, but the land sales figures look pretty damning. </div>
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<div>The pressure appears to be starting to tell, as vacant land sales are being gobbled up at the fastest pace ever recorded, according to Oliver Hume's quarterly data.</div>
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<div><a href="https://www.propertyobserver.com.au/images/2017/08/24/A1.jpg" target="_blank">Click to enlarge</a></div>
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<div><strong><span style="text-decoration: underline;">Model of a modern Valuer-General</span></strong></div>
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<div>Rising land values have been a key input into rising house prices in Melbourne.</div>
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<div>Median vacant land prices in metropolitan Melbourne increased by +3.7 per cent in calendar year 2016, according to the Valuer-General, rising from $219,000 to $227,000.</div>
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<div>Median house prices in metro Melbourne rose for a fourth consecutive calendar year from $600,000 in 2015 to $635,000 in 2016.</div>
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<div>Median unit values increased far more steadily over the year, up from $487,000 to $494,000.</div>
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<div class="separator"><a href="https://2.bp.blogspot.com/-PwOPlS6xpus/WZlT3UEHAmI/AAAAAAAAltM/NQqU2fnmXAoMP4yOetW8GAK5KgUYsa9EgCLcBGAs/s1600/A2.jpg"><img src="https://2.bp.blogspot.com/-PwOPlS6xpus/WZlT3UEHAmI/AAAAAAAAltM/NQqU2fnmXAoMP4yOetW8GAK5KgUYsa9EgCLcBGAs/s640/A2.jpg" width="640" height="382" data-original-height="831" data-original-width="1389"></a></div>
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<div>The ratio of land prices to house prices on this data series hasn't changed a great deal over more than three decades, to some extent reflecting what is actually being measured, with the vacant land sales often located in fringe or secondary locations.</div>
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<div>Perhaps this is the subject for a longer blog post another time, but the Valuer-General report always cautions about too many generalisation being drawn from the headline numbers. </div>
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<div>House and land prices in regional Victoria have lagged Melbourne substantially over the past 10 years to 2016, at least in aggregate.</div>
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<div>Metro Melbourne median house prices have now more than doubled over the past dozen years, and have quadrupled since 1998. </div>
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<div>In 2016, regional house prices rose by +2.6 per cent to $320,000.</div>
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<div>This represents an increase of $100,000 or +45 per cent over 10 years, before accounting for stamp duty and repairs, maintenance, and other holding costs. </div>
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<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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pwargent-M4siyDbqQY

Melbourne land sales figures look pretty damning

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<p>A open parcel of land in Silverdale, that used to be a nudist retreat, has yet to sell having hit the market earlier this year.</p>
<p>Located at 256 Avoca Road, the rural retreat offers 25.19 hectares of land.</p>
<p><img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-28%20at%2012.05.39%20pm.png" alt=""></p>
<p><span style="font-size: 12.16px;">It also comes with a residence on-site and is being marketed by Ray White Commercial South Sydney Sales Agent Peter Kotzias.</span></p>
<p>“This parcel of rural land is absolutely exceptional and buyers will understand this site really is a hidden gem in Silverdale,” Mr Kotzias said.</p>
<p>“The land is zoned RU2, is level partially cleared, and includes a four-bedroom, three-bathroom residence, mechanical work shed, power, bore water with six tanks, and dam along with natural vegetation backing onto a gorge.”</p>
<p><img src="https://www.urban.com.au/images/Screen%20Shot%202020-08-28%20at%2012.07.01%20pm.png" alt=""></p>
<p><span style="font-size: 12.16px;">“It will suit many uses including; agriculture, retreats, hobby farm, animal boarding and landscape material suppliers, subject to council approval.”</span></p>
<p>The property within 10km of the incoming Western Sydney Airport.</p>
<p>An asking price of $3,150,000 has been given for the listing.<span style="font-size: 12.16px;"> </span></p>
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j.ballantyne1990-6AQqhLzZaK

Former nudist retreat in Silverdale still for sale

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<p>Victorian land buyers continue to lock in purchases despite the State’s strict lockdowns, with developer and government incentives encouraging many to push ahead despite being unable to visit most estate.</p>
<p>The State’s leading project marketing group Oliver Hume has achieved an average of 70 reservations per week over the last six weeks as a result of new innovative processes for selling land as well as a sales and marketing team that have lead the way in educating buyers virtually.</p>
<p>Oliver Hume has also launched a new $25,000 initiative which matches the Federal Government’s $25,000 Home Builder grant. The $25,000 Perfect Match campaign is available at selected projects marketed by Oliver Hume. Buyers can also utilise Oliver Hume’s new online deposit system which has experienced strong demand during lockdowns.</p>
<p>Oliver Hume Chief Executive Officer Julian Coppini said the new bonus had been in high demand since it was launched in late August.</p>
<p>“While buyer demand has been impacted by the lockdown we are still seeing strong levels of enquiry and sustained sales which has our current sales rate still higher than March, April and May before the HomeBuilder grant was announced,” he said.</p>
<p>“Many buyers have understood the new processes due to being in a lockdown and are happy to rely much more on digital presentations, inspections and communication as part of their purchase decision.”</p>
<p>“Buyers understand the extraordinary nature of the current market and appreciate the opportunity to utilise the support measures and grants from the state and federal governments in conjunction to developers providing attractive offers in market”</p>
<p>“The incentives and grants combined with low interest rates have generated some of the best buying conditions in a generation.”</p>
<p>Mr Coppini said the industry was quickly adapting to managing sales through the lockdowns with buyers becoming more confident navigating the purchase decision in a fully digital environment.</p>
<p>“Oliver Hume is thankful for the ongoing digital transformation it started on years ago as it has been a major benefit to our vendors and purchasers over the last six months. Many of the systems and processes we have put in place will become permanent features in the land buying process,” he said.</p>
<p>Earlier this year, Oliver Hume launched a new digital deposit platform that allows buyers to secure and pay a deposit on their new block of land, without ever visiting a sales office or meeting in-person with a developer representative.</p>
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Victorian land sales are holding up as grants kick in: Oliver Hume

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<p><span>Future new home development on the Gold Coast is ramping up in areas such as Hope Island, Beenleigh and the Scenic Rim (west), with building costs increasing at the lower end of the scale, but not greatly for the prestige and higher-end market when compared to 2009. </span></p>
<p><span>Herron Todd White's August review noted builders and developers said the cost is higher due to raw materials costs and green compliance, adding to the cost per square metre. </span></p>
<p><span style="line-height: 1.3em;">HTW said most of the remaining vacant sites in <a href="https://www.urban.com.au/property-observer" target="_blank">Helensvale</a>, River Links and The Peninsula, will be developed in the next few years and warned that valuation of off the plan housing can be a minefield as rates for very similar products can range from $1,100 per square metre to over $1,600 per square metre.<br></span></p>
<p><span style="line-height: 1.3em;">"These estates have building covenants which attract architecturally designed and quality project packages that range on a rate per square metre basis from $1,100 to $1,700 for living area," HTW noted. </span></p>
<p><span style="line-height: 1.3em;">"These dwellings </span><span style="line-height: 1.3em;">will mostly feature attractive mixed cladding, stone benchtops throughout, ducted air-conditioning and often leave landscaping and pool packages outside the building contract. </span><span style="line-height: 1.3em;">These estates have smaller lot sizes ranging from roughly 300 square metres to 600 square metres and therefore attract investors, project builders and turnkey packages. </span></p>
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<p>"These building contracts are typically $200,000 to $275,000. Floor plans are usually compact 3-bedroom plus study or 4-bedroom and the rates per square metre of living are generally $1,000 to $1,200 which has crept up from our previous <span style="line-height: 1.3em;">review in 2009."</span></p>
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<p><span style="line-height: 1.3em;">On the North Western M1 corridor, Maudsland's, </span><span style="line-height: 1.3em;">Riverstone Crossing, Highland Reserve </span><span style="line-height: 1.3em;">and Coomera Springs are showing consistent land value increases, according to the </span>report.</p>
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<p><span style="line-height: 1.3em;"><span style="line-height: 1.3em;"><span style="line-height: 1.3em;"> </span></span></span></p>
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mick.cee-iDmgDDAmu8

Gold Coast's new home development hotspots: HTW

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<p style="text-align: left;" align="center">A gateway landholding in Sydney's Parramatta, with potential for mixed-use residential development, is up for sale through an expressions of interest campaign closing June 7.</p>
<p style="text-align: left;" align="center">The site at 142 James Ruse Drive in Parramatta is being sold as a ‘Going Concern’, and has an area close to 10,000 square metres. </p>
<p style="text-align: left;">Surrounded by land that is undergoing significant regeneration from light industrial to future residential and mixed-use development, </p>
<p style="text-align: left;">Stuart Cox and Neil Cooke of Savills are marketing the property. </p>
<p style="text-align: left;">Cox said as the property is next to the proposed light rail station planned for Parramatta, and that it has gateway prominence, he expected strong interest from buyers.</p>
<p style="text-align: left;">“As far as opportunities go, it doesn’t get better.  This offers buyers a complete blank canvas with significant rezoning potential (STCA),” said Cox.</p>
<p style="text-align: left;">Concept drawings have been proposed for the site, providing 493 apartments spread over four towers together with about 2,500 square metres of retail space.</p>
<p style="text-align: left;">The property currently comprises a light industrial strata complex, constructed in 2002, made up of 10 strata industrial units.</p>
<p style="text-align: left;">Situated on the southern side of the Parramatta River, the property is about 2 km from Parramatta CBD. </p>
<p style="text-align: left;">Parramatta is undergoing a growth phase with more than $8 billion invested in building and construction projects.</p>
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jonathanchancellor-7SQnKwU6yx

Gateway site in Parramatta with potential for mixed use up for sale

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<p>A development site at Avoca Beach has been sold for $1,650,000.</p>
<p>Located at <a href="https://www.realestate.com.au/sold/property-residential+land-nsw-avoca+beach-201451382" target="_blank">4-6 Cape Three Points Road</a>, the 1,713 square metre, B2 zoned local land is one of the last undeveloped sites in the Central Coast location.</p>
<p>This existing church site offers commercial and residential redevelopment, or conversion of the current building.</p>
<p>The current church structure provides a 250 square metre floor area.</p>
<p>The property is only 60 metres to the main entry to Avoca Village precinct.</p>
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Avoca Beach development site sold for $1,650,000

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<p>Vacant residential land sales and median land values on the Gold Coast have reached record highs while lot approvals were at the highest level since 2011, according to a Ray White Commercial report.</p>
<p>Ray White Land Marketing Director, Jamie Martin, said the Gold Coast City Council LGA residential land market has seen strong results in the year to June 2016.</p>
<p>Both vacant land and house and land packages median values are on the rise.</p>
<p>“Vacant land sales rates reached their highest level recorded at 2,973 lots, from a previous record high of 2,408 in 2015, while median land values are a record high of $578 per sqm,” Mr Martin said in the Between the Lines – Gold City Land Market Report February 2017.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.42.42%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.42.42%20am.jpg" alt=""></p>
<p>“There have been four consecutive years of increases in lot sales activity.</p>
<p>“Lot approvals increased over the 12 months by 18.40 per cent to 1,911 which represents the highest number since 2011 and still ahead of the longer-term trend of 1,646.”</p>
<p>Mr Martin said the increases in approvals translated into a sizeable increase in the total number of projects with 97 in the 12 months to June, 2016, up from 75 the previous year.</p>
<p>“The Gold Coast City land market has shown robust results over the last few years and continued into the year to June 2016 period,” he said.</p>
<p>“The volume of vacant land sales has shown a significant uplift and translated into an increased median price across the region.</p>
<p>While this level of growth may be minimal the continued lot size reduction has kept the median price and affordability in check.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.43.23%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.43.23%20am.jpg" alt=""></p>
<p>“The true growth on a per sqm basis has been consistently positive and shows encouraging signs for the market.</p>
<p>DA approval levels continue to grow in line with these increased demand levels, similarly the steady increases in registration levels highlight the depth of this market.</p>
<p>“Other indicators include the high number sales we have had to builder groups, which emphasises the ongoing demand for housing in this location.</p>
<p>“Gold Coast City provides 3,370ha of land suitable for residential development, with potential to deliver over 45,000 dwellings, representing an important growth corridor of South East Queensland with significant scope for future residential land development opportunities.”</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.43.15%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/20/Screen%20Shot%202017-02-20%20at%2010.43.15%20am.jpg" alt=""></p>
<p>A 4228 sqm land at<a href="https://www.realestate.com.au/property-residential+land-qld-reedy+creek-201731994" target="_blank"> 6 Abbey Ridge Road</a>, Reedy Creek (above) has been listed for $879,000, having last traded for $589,500.</p>
<p>Similarly a 524 sqm waterfront land at <a href="https://www.realestate.com.au/property-residential+land-qld-hope+island-201705114" target="_blank">11 Keelson Crescent</a>, Hope Island (below) has been listed for $450,000. It last sold for $325,000 in 2014.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/22/11%20Keelson%20Crescent.jpg" alt=""></p>
<p>A residential land at <a href="https://www.realestate.com.au/sold/property-residential+land-qld-varsity+lakes-201623594" target="_blank">10 Marks Drive</a>, Varsity Lakes (below) has sold recently for $355,000 after trading for $335,000 just eight months earlier.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/22/Lot%208%2010%20Marks%20Drive.jpg" alt=""></p>
<p>Similarly a residential land at <a href="https://www.realestate.com.au/sold/property-residential+land-qld-upper+coomera-201547362" target="_blank">15 Currawong Crescent</a>, Upper Coomera (below) was sold for $290,000. It last sold for $229,000 in 2015.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/22/15%20Currawong%20Crescent.jpg" alt=""></p>
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Record land sales on the Gold Coast

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<p>Demand for new land in and around Melbourne continues to grow at record levels with new blocks now selling in less than 50 days, down from nearly 200 days at the end of 2013, according to research by property group Oliver Hume.</p>
<p>The average price for a square metre of new land in Melbourne in the first quarter of this year (three months to March) was nearly $640 up from $575 in the last three months of 2016.</p>
<p>The research shows the average time on market for land in Melbourne in the first quarter of 2016 was just 1.6 months, the lowest ever recorded.</p>
<p>Oliver Hume director Paul Ciprian said land was attracting value hunters from Sydney.</p>
<p>“Over the last couple of years we have seen an ever-increasing number of people priced out of the Sydney market looking to set up their life in Melbourne,” he said.</p>
<p>“If your job and family is transferrable, the decision is pretty simple.”</p>
<p>The median price of land in metropolitan Melbourne reached $262,000 in the first quarter, up 9.6% (or $23,000) from $239,000 in the last quarter of 2016. </p>
<p>Over the same period the median lot size declined from 416sqm to 410sqm, according to research compiled from analysing thousands of transactions, the stock of lots available and examining trends in projects throughout Victoria.</p>
<p>With the exception of the first quarter of 2015, the average time on market has now fallen or remained steady in every quarter since the third quarter of 2013, after peaking in the current cycle at 6.6 at the end of 2012.</p>
<p>The statistic measures the period from when a piece of land is released for sale by a developer until it is contracted by a purchaser.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/25/Screen%20Shot%202017-05-25%20at%2010.23.38%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/25/Screen%20Shot%202017-05-25%20at%2010.23.38%20am.jpg" alt=""></p>
<p>Oliver Hume Research Manager George Bougias said the total number of sales across January, February and March were all significantly up on the same period last year.</p>
<p>“Continuing supply, robust competition and relative affordability compared to many other property markets in Australia means Melbourne residential land is still one of the strongest performing asset classes in Australia at the moment,” Mr Bougias said.</p>
<p>“We expect the market to continue to build momentum throughout 2017 if not well into 2018.</p>
<p>“With buyers having similar access to low interest rates, an improving economic and jobs outlook in Victoria and Melbourne’s relative affordability is ensuring the city keeps coming up the winner,” he said.</p>
<p>For more information visit <a href="https://www.oliverhume.com.au">www.oliverhume.com.au</a></p>
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