Sixty lots have sold over the past two weekends at Esperance, the project at Point Cook adjacent to Sanctuary Lakes Resort, and is set to sell out in record time.

Paul Ciprian of Real Estate firm Oliver Hume said land has been selling on average at just over four lots a day since the first release on July 18th when some twenty people camped out for four days to purchase land.

"Two hundred lots at an average price of $187,000, worth $37.5 million have already been sold in six weeks. The project has been extremely popular with all home buyers, including first home buyers and people upgrading to their second or third home. "

We believe the last two stages totalling 52 lots will be sold within the next two weeks given our experience of last weekend when twenty nine lots were snapped up."

Mr Ciprian said the location of the project was the top reason cited by 35% of purchasers deciding to buy, whilst 15% of buyers said affordability played a major part in their decision to purchase.

"The project is bordered by the prestigious Sanctuary Lakes Resort and a planned district sporting and recreational facility with current concepts providing for Australian Rules football, soccer, cricket and other recreational facilities.

"In the current economic climate where affordability, quality and future capital gain are three major drivers for home buyers, Esperance has a solid base of a quality location, easy accessibility and is surrounded by lifestyle facilities including Port Phillip Bay, boating facilities, Sanctuary Lakes golf course, schools and is just 20 kilometres from the city."

Mr Ciprian said with 53% of land purchasers being families with children, 26% couples and 20% being singles, the close proximity to lifestyle facilities and schools becomes an important factor in choosing where to build a home.

"People are moving quickly, the Esperance buyers' sentiment shows 33% of land buyers intend to commence construction immediately with another 39% to commence within three months."

Mr Ciprian said land sold ranged from $160,000 for a 400 m2 lot to $215,000 for a 592 m2 block with the average price being $187,800 and the average size of 570 m2.

ESPERANCE Phone 9684 8133
  
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Ron Smith Esperance Mobile: 0417 329 201