Land sales at Hayfield estate at Ripley have spiked since the announcement of the Federal Government HomeBuilder grant

Demand for land in a western corridor residential growth estate has spiked because of the Federal Government’s HomeBuilder grants program.

Goldfields managing director Marco Gattino says demand for land at his Hayfield estate has spiked.

LAND sales in masterplanned community in Brisbane’s western growth corridor and across southeast Queensland are showing signs of a post-COVID recovery.

Goldfield’s developed Hayfield estate at Ripley has seen a spike in demands since the federal Government’s announcement of the $25,000 HomeBuilder grants program.

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“Demand for land at Hayfield was already strong toward the back end of May, however, when June hit the level of market activity and genuine buyer interest increased significantly,” Goldfields managing director Marco Gattino said.

“In June, 47 homesites were purchased at Hayfield at a rate of more than one and a half per day.

“To put that in perspective, it would ordinarily take our sales team almost half a year to sell that quantity of stock.”

“Homebuyers in SEQ understand and appreciate that the local broad-hectare residential market is underpinned by strong fundamentals, centred around the region’s long-term population growth trends and its relative affordability compared with comparable stock in Sydney and Melbourne.

Mr Gattino said the Stage 4 land release has gone onto the market three months earlier than originally planned to meet the spike in demand.

Part of the Hayfield estate at Ripley.

Stage 4 consists of 39 new homesites, many located adjacent to the Greenwood, a pristine natural oasis which acts as the centrepiece of the Hayfield masterplanned community. Lots range from 330sq m to 600sq m with prices starting from $195,000.

Colliers International residential director Clinton Trezise said weekly data taken from 17 active masterplanned developments across southeast Queensland showed a significant 42 per cent increase in sales following relaxation of COVID-19 restrictions and the reopening of sales offices last month.

“However, since the announcement of the HomeBuilder grant we are on track for — and forecasting — a 150 per cent increase in sales for June compared with the previous month,” he said.

“First homeowners still receive the $15,000 grant and stamp duty concessions in addition to the $25,000 home builder grant, meaning right now first homebuyers can save well over $40,000 on the cost of their home in government grants and concessions.”