AVJennings took contracts on all 45 homesites in the latest stages of its Big Sky community in Coomera for a total of almost $11 million last weekend, prompting the early release of another 40 lots to the market.
Queensland State General Manager Rod Chadwick said the pace of land sales on the Gold Coast reflected an imbalance in the availability of homesites compared to built product.
"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," Mr Chadwick said.
"There's an increasing shortage of land available across the city, when compared with established homes and apartments, so buyers are learning to pre-register for lots so they don't miss out.
"Statistics from Australian Property Monitors show that the average established Gold Coast home or apartment spends between 96 - 110 days on the market before selling, so new property is strides ahead, because people are realising that in many cases the price difference between an established and brand new home is minimal.
The sold out Taurus and Capella land releases in Big Sky comprised 45 homesites ranging between 340sqm and 928sqm, across a 3.6 hectare parcel of land. Prices started from just $204,900.
AVJennings allocated 15 of the homesites to Big Sky’s Partner Builders, who will deliver a range of home and land packages, with the remaining 30 lots taken up primarily by local first and second home buyers.
Mr Chadwick said the next release of land would offer similar product type and value, with lots starting from just $202,900.
"We are listening to the market and delivering more of what buyers want - which is a mix of small and traditional size homesites at a price point that represents value for money," he said.
"Our 10 metre frontage villa homesites have proven particularly popular with first home buyers looking to secure house and land in the mid $300,000 bracket.
"We have also had strong interest from second home buyers looking to upgrade to a brand new property in a well established community which is primed for growth, with developments like the new Coomera Town Centre in the pipeline."Big Sky is located just 20 minutes from Gold Coast beaches and business districts, is in close proximity to the M1 and the Coomera Railway Station, and is just 45 minutes south of the Brisbane CBD.
On completion, the community will feature 318 homesites, set among a proposed 8.3 hectares of open space including bikeways, walkways and parkland.