Buy­ers cot­ton­ing on to new de­vel­op­ments in Red­lands

The Courier-Mail - Property - - REALESTATE -

SALES of land in Mt Cot­ton have picked up sub­stan­tially since the end of last year, with one de­vel­oper now 18 months ahead of sched­ule.

The sub­urb, about 30km south­east of Bris­bane, was one of the most pop­u­lar searched online,

It has two ma­jor land de­vel­op­ments un­der con­struc­tion, The En­clave and Mt Cot­ton Vil­lage.

Oliver Hume gen­eral man­ager Queens­land, Jil­lian Sheri­dan, said sales had re­ally picked up in The En­clave de­vel­op­ment, which is owned by Yar­rum Eq­ui­ties.

Oliver Hume took over the mar­ket­ing of the es­tate about a year ago.

“We have had so much suc­cess there,’’ Ms Sheri­dan said.

Be­fore Christ­mas the ma­jor­ity of buy­ers had been owne­roc­cu­piers but since then there had been a lift in the num­ber of builders buy­ing land.

The en­tire de­vel­op­ment will be com­prised of 11 stages, with only three or four more to be re­leased.

“We are 18 months ahead of sched­ule at the mo­ment,’’ Ms Sheri­dan said.

As well as new house and land sales per­form­ing well in Mt Cot­ton, Ms Sheri­dan said the re­sale mar­ket also ap­peared strong.

She be­lieved the op­por­tu­nity to buy large lots in a tran­quil bush set­ting ap­pealed to buy­ers. Land in the de­vel­op­ment ranged in size from 550sq m to 1000sq m.

Prices in the next re­lease in the de­vel­op­ment, The Grand, which will be launched in the com­ing weeks will range from about $215,000 to $275,000 de­pend­ing on size and lo­ca­tion.

Mean­while Villa World’s Mt Cot­ton Vil­lage es­tate has 372 home sites that range in size from 450sq m to 900sq m.

Home and land pack­ages range from $469,000 to $520,000 and the es­tate has chalked up about $155 mil­lion worth of sales to date.

In its lat­est re­lease, stage 10, 15 of the 24 lots have sold for a to­tal of $7.2 mil­lion.

Villa World’s mas­ter­plan for the de­vel­op­ment in­cludes parks with play­ground equip­ment, pic­nic ta­bles and bar­be­cue ar­eas; a skate park; an off leash dog area; walk­ing paths; lake­side tim­ber board­walks and a bas­ket­ball half court.

Fig­ures from RP Data re­veal the me­dian house price in Mt Cot­ton, which is in the Red­land Lo­cal Gov­ern­ment area, is $461,250.

There were 150 houses sold in the year to Oc­to­ber.

Sell­ers in the sub­urb only had re­duced their orig­i­nal ask­ing price by 6.1 per cent to get a deal, while av­er­age days on mar­ket was 98 days.

Richard and Judi An­der­son (left) are sell­ing their Coomera home but are keen to stay in the area and (above) one of the homes at at Villa World's Mt Cot­ton Vil­lage es­tate.

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