QM Properties have released Stage 9 of their development at Coomera Retreat, half way between the Gold Coast and Brisbane.
“We listed this stage of Coomera three weeks ago, and have had the best sales response in five years,” said QM Properties Sales Manager Damien Ross. “If this is any indication of where the market is going, the news is very good for the industry.”
QM Properties has reported that they have sold 17 blocks of this land in the past two months, being June and July.
The most popular blocks are in the $235,000 – $270,000 window, buying a large 700-800 square metre block.
“The big blocks have hilltop views to the hinterland and many of the 25 new blocks have views of the Gold Coast towers at Southport and Surfers Paradise,” he said.
“There are several very high blocks, which give them great views,” said Damien. “We felt that these blocks were going to be highly sought after, but that the slope may be a drawback to some buyers due to construction costs.”
QM then took the decision to build concrete sleeper retaining walls on the blocks to flatten the slope and add value.
“The walls add about $25, 000 to the value of the land,” said Damien. “It also adds social value, as building retaining walls can cause neighbourhood disputes as people argue about the type of wall, the cost and so on.”
According to the RTA (Residential Tenancies Authority), fences and retaining walls are two of the biggest causes of neighbour discontent in Queensland.
Damien puts this success down to a combination of location, the strict covenant and the size of the blocks.
“Our location, mid way to the Gold Coast is a big selling point,” said Damien. “It is located next to the planned Coomera City Town Centre, close to the M1-access at Exit 54 and Coomera Rail Station.”
“The target market for this estate is working families who are second, third or fourth home buyers,” he said.
34% of the buyers are aged 30-40, followed by 50-60 year olds at 20% and 25-30 year olds at 17%.
“We have young families with primary school age children and empty nesters still working,” said Damien. “Their primary requirement is a quiet, attractive suburb that offers them easy access for family, work and activities.”
It is adjacent to what is planned as a ‘second Robina Town Centre’, the new Coomera Town Centre. This centre will cover an area approximately 60 hectares located around the Brisbane-Gold Coast Rail link and centred on the Coomera station.
The whole of the Coomera Town Centre area, including the residential component, will be approximately the same size as the Brisbane CBD. The town centre will be surrounded by satellite centres, local and district, along with neighbourhood centres.
The expansion will be a huge driver in the Gold Coast economy and the fastest growing region in Queensland.
Currently Coomera Retreat is well served already with infrastructure, opposite a new Woolworths Shopping Centre, which features a full range of specialty shops and a medical centre.
“Coomera Retreat is also popular as the railway station is right here, a rare privilege for most of the Gold Coast,” said Damien.
The covenant encourages owner occupiers, with the emphasis on quality homes in a quality neighbourhood.
“We want property owners who are keen to maintain their property and take pride in their property’s presentation,” said Damien. “This helps everybody’s resale values.”
Coomera Retreat is an infill subdivision nestled into the old part of town, which means that buyers are comfortable with the surrounding lifestyle and homes.
However, it has maintained a country style atmosphere despite its quick access to rail, road and local shopping centres.
”It is a pleasant, well kept area, with open parks and family BBQ areas,” said Damien.
Coomera Retreat also currently offers an attractive $2000 incentive on landscaping to all House and Land packages.