20/07/2009

50 Lots Sold in $9.4 Million Land Sale at Point Cook
First home buyers second wave stimulus package continues to bite

Fifty lots costing an average of $185,000 valued at $9.4 million on a new 250 lot subdivision Esperance, which abuts the prestigious Sanctuary Lakes Resort, have been sold on the first day of the project going on sale on Saturday.

With lots selling from $160,000 the buying frenzy followed a camp out on site for the past four days by land buyers keen to secure an early choice of the land in one of the prime locations at Point Cook. Many of the buyers came from surrounding areas in Point Cook.

Paul Ciprian of Real Estate firm Oliver Hume responsible for marketing the project said, the overwhelming response to the first stage release of Esperance has forced the developer to bring forward the release of stage two to cope with the demand.

"A further 17 lots have been released and we expect those also to move quickly given the deadlines for first home buyer grants and the urgency for people to obtain their land and arrange a builder to qualify for the $32,000 of combined Federal and State home buyer grants."

Mr Ciprian said there was a strong representation of second and third home buyers who have sold their property within the western region to enjoy their lifestyle options by being close to Port Phillip Bay, district sporting facilities which border the project, schools and major shopping centres.

Land sold ranged from $160,000 for a 400 sq. metre lot to $215,000 for a 592 sq. metre block with the average price being $185,000 and the average size 570 sq. metres.

Media Enquiries:
Paul Ciprian Oliver Hume Real Estate Mobile: 0417 350 750
Ron Smith Esperance Mobile: 0417 329 201

NB Hi Res Photos available from land release and camp.