APPETITE FOR LAND DRIVES

After just four weeks in the market, developer Clarence Property is pleased to announce that strong buyer demand has resulted in the sell-out of all 14 homesites in The Pocket, its most recent land release in Epiq Lennox Head.

The Pocket is a collection of just 14 generous homesites which feature wide street frontages, close to Epiq Marketplace, right in the heart of the popular Epiq Lennox Head, in the idyllic northern NSW region. Epiq, the soughtafter masterplanned community centrally located in Lennox Head, has defed recent reports of a property market slowdown.

Elders Lennox Head agent Nick Bordin said whilst rates of sale have not been in line with previous stages, which had sold out in a single day, the strong sales result in The Pocket demonstrates that appetite is still high for quality, welllocated property if appropriately priced.

“With supply of coastal land still incredibly low, as well as limited rental vacancies for family homes in the area, a backlog of strong local demand for readyto-build homesites resulted in the frst 12 lots in The Pocket selling only two weeks after launch.

“At Epiq, buyers were able to secure a homesite less than 3 kilometres to the beach for $615,000 and build a brand-new home for a complete house and land price from around $1 to

1.1 million, which is simply not achievable in many other popular coastal areas.

“For example, in Byron Bay, a 20-minute drive from Lennox Head, the most recent median property price is still $3.15 million, according to realestate. com.au (January 2023).”

Premium lots in The Pocket precinct range in size from 450 to 657sqm and were sold at prices from $615,000 to $739,000.

To continue to meet the need for new homes in this area, developer Clarence Property is now selling vacant land, as well as newly launched house and land packages, in its latest release in Epiq, where demand has already seen several homesites