Gold Coast based property services group Oliver Hume has added close to $1 billion worth of new land projects to its pipeline on the back of strengthening demand in the South East Queensland property market.
Oliver Hume has been appointed to five new projects over recent weeks with a combined 3,354 lots and an overall value of approximately $950 million. Located throughout South East Queensland, the projects are by some of Queensland’s most established developers, including VillaWorld Limited, RBG & Villawood.
The projects include the $300 million Waterlea at Walloon (1,650 lots), the $24 million Haven Hill at Holmview (120 lots), an unnamed $600 million development in Helensvale (1,500 lots), and the $27 million Affinity at Thornlands (84 lots).
The appointments confirm Oliver Hume’s dominance of the Queensland project marketing market after securing more than 1,500 sales in 2015. The company now has exclusive sales and marketing control over more than 14,000 lots around SEQ.
Oliver Hume Joint MD Brinton Keath said the appointments reflected the group’s success over recent years and the continuing strength of the South-East Queensland land market.
“Logan LGA land sales volumes were up 34 per cent whilst the Gold Coast LGA land prices were up 4 per cent. There are excellent market signs everywhere you look within the entire South-East Queensland market,” he said.
“Demand for land remains strong in the South East Queensland market with limited risk of oversupply due to planning constraints which are limiting the release of new projects.
“With interest rates forecast to remain low, strong relative affordability compared to other parts of Australia and an improving economy we expect these conditions to continue right through 2016 and into next year.”
In recent weeks the company has also been appointed to its third Villa World project; a $27 million, 86-lot community in Boundary Road, Thornlands in the Bayside region. Oliver Hume is also the selling agent for the successful $60 million, 227 lot, Waterline estate at Thornlands, and the 237 lot, built home development ‘Era’ at Capalaba.
Oliver Hume has also been appointed to market the 1,650 lot Waterlea estate, at Walloon, Ipswich’s latest masterplanned community within one of South-East Queensland’s fastest selling corridors.
Mr Keath said 2016 was shaping up as one of the Group’s most successful years yet.
“The market has been forming for a good two years now and our research is pointing heavily to 2016 and 2017 as being the extremely strong years for South-East Queensland property market which we are genuinely excited by.”
Growing demand for land in quality communities combined with buoyant property markets on the Gold Coast and in the Redlands have helped drive this year’s sales.
“We also believe our local expertise, strong network of contacts and willingness to adapt have helped us dominate in an field that is competitive and ever evolving.”