The Gold Coast’s dire shortage of new homesites is set for some relief with the first release of land at a new 196-lot master planned community in the foothills of Upper Coomera.
The Calli Upper Coomera project is the latest from national developer HB Land, with the first stage, dubbed Star Jasmine, comprising 20 homesites ranging from 401sqm to 1,154sqm. Prices start from $550,000.
HB Land acquired the 18.85ha site in December 2021 and received Development Approval for the project in September last year. Civil works have commenced, with first stage completion anticipated by July this year.
HB Land has appointed Oliver Hume to manage sales and marketing at the project.
Oliver Hume Queensland general manager Dan Ross said the Calli project would help ease some of the pent-up demand for new homesites on the Gold Coast.
“The Gold Coast is one of the fastest growing regions in the country with a massive undersupply of new land developments,” he said. “We have already had a considerable amount of enquiry and are confident the first stage will sell quickly.”
The new release comes amid research by property services group Oliver Hume, which shows that in 2023 only 90 new lots where released to the market across the Gold Coast local government area (LGA) with a median lot size of 375sqm.
The scarcity of new homesites contributed to another strong year for prices with average prices increasing more than 20% for the year to the end of December, including a 7% increase in the last quarter. The average price of land on the Gold Coast is now $738,500 compared to $614,000 a year earlier.
“The increase in average prices was largely due to the type of product being released with the market was being dominated by a number of larger, more premium homesite releases,” he said.
HB Land Chief Executive Officer Michael Vinodolac said the project was well positioned, with most blocks enjoying great views and cooling breezes.
“We have put a lot of work into the design and terracing of each homesite to ensure we are maximising the views across the valley and allowing each buyer to immerse themselves in the lush greenery that Upper Coomera has become known for,” he said.
“Over the last decade, Coomera has developed into a great lifestyle destination for families with plenty of schools, five minutes to a major shopping centre and Gold Coast beaches just 25km away,” he said.
“The local area already has plenty of established open space, but we’ll be adding in another 4,400 sqm with a purpose-built playground and recreation areas.”
He said the benched homesites would be a blank canvas for buyers to build their dream home.
“With the freedom to choose your own builder, you can craft a custom home perfectly tailored to your unique tastes and lifestyle. Buyers can also rest easy knowing their investment is safeguarded by a Building Covenant, ensuring a quality streetscape that harmonises with your surroundings.
For more information, visit www.calliestate.com.au or call 1800 131 182.
