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Waterfront Land In Short Supply
The ever increasing popularity of waterfront living has shown
no sign of slowing at Hope Island Resort on the northern
Gold Coast in 2005 with in excess of $35 million in waterfront
lot sales between May and the end of November and the end
in sight for both waterfront and dry homesites.
Marketing manager David Small said the lure of a waterfront
living environment was particularly strong for many people.
“The benefits are obvious as far as a boating lifestyle
is concerned, but a lot of people want to live on the water
just for the views, the privacy and the overall ambience,” he
said.
“Our lakefront waterfront homesites, which do not
have boating access, were as popular and sold just as fast
as our latest release which does have boating access to
the Coomera River and beyond.”
Hope Island Resort waterfront land prices have shown considerable
price appreciation in recent years. When Walker Corporation
finalized its purchase of the resort in 2000 developed
waterfront lots completed by the previous owner sold for
around $250,000.
Waterfront lots on Gracemere Island are now selling for
in excess of $1 million.
The waterfront sales surge in 2005 started with the release
of 18 prime lakefront homesites in May this year. They
sold in one day for a total value of $10.22 million.
A further 16 waterfront lots fronting a canal leading to
the golf clubhouse and located only one bridge from the
marina basin and the Coomera River sold within two weeks
for a combined total of $9.19 million. They ranged from
$385,000 to $690,000 and from 624 square metres to 892
square metres in size. Buyers were a mix of locals and
Brisbane residents with one purchaser snapping up four
allotments.
Mr Small said in the latest sales coup an additional 12
waterfront lots facing west over the same canal have sold
for almost $7 million.
Mr Small said Hope Island Resort how had a total of eight,
direct access waterfront homesites remaining for sale.
They are priced from $699,000.
“People have realized that we are virtually at the
end of our waterfront and dry land stocks and once they
are gone that is it, there simply won’t be any more
land of such quality and in such a location available ever
again,” he said.
“Once all this land has sold we will be concentrating
on a variety of medium density residential product.
“The sales success we have enjoyed in 2005 speaks
for itself and many property industry pundits have stated
that waterfront land appreciates at a significantly higher
rate than other residential property.
“Couple that with the rapidly diminishing availability
of property generally in a world class, fully integrated
resort environment and you have a recipe for ongoing string
price appreciation.”
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