Land sales remain strong at Austin Lara
Land sales remained strong at Austin Lara throughout 2021 with 308 land sales being contracted. We also saw strong price growth continue throughout the year, for example 238sqm lots were selling in January 2021 for $189,000 – the same size lots now sell for $248,000, that’s a 31% increase in just 12 months. these small lots have remained extremely popular due to their affordability. The percentage increase for larger lots is not as great, let’s take a look. A 448sqm lot in January, 2021 were selling for $282,000, today the are selling at $328,000, that represents an increase of 16%.
The underlying demand remains strong with enquiry rates running at the same levels we saw throughout 2021. Provided the enquiries remain strong we cannot see the market changing and we will see the prices continue to edge higher with each new stage release. Enquiry levels will be assisted greatly by the opening of a major display village on the project July of this year.
The current boom has made the selling easy but what has driven premium prices along with Lara’s best sales price at Austin is the quality of the marketing and presentation of the project.
