A new land lease community on the State’s mid-north coast has been inundated with demand from local downsizers, fast-tracking the launch of its new stage of homes in the community master plan.
The Plantations by Ingenia Lifestyle project is a land lease community located at Woolgoolga, north of Coffs Harbour.
By 2026, the number of Coffs Harbour locals over the age of 55 is set to increase by more than 22 per cent to 31,750 – up from 26,000 in 2016 – with the demand for affordable housing for this age group set to soar over the next seven years.
Ingenia Lifestyle Project Sales Manager Terry Ronan said an overwhelming response was recorded from VIP buyers who wasted no time in snapping up all available homes in stage three last week, before it even launched to the public.
“An additional 15 homes have just been released in Stage Four at Plantations – a direct response to the demand we have seen for homes in stage three,” Mr Ronan said. “Residential property demand is surging in the region and prices continue to rise, for example, the average house price in Coffs Harbour is around $550,000 – far greater than homes at Plantations, which start from just $409,900.
“Last weekend, we had more than 130 guests attend our community open day.
“Throughout the day, we had two couples place deposits on their new homes and more than 15 reservations as part of our First Choice Club – a VIP program which allows soon to be downsizers to gain exclusive access to the plans and prices of future releases prior to the public launch.”
Plantations by Ingenia Lifestyle has become a popular housing choice for downsizers as the land lease ownership model allows purchasers to own a brand new home and lease the land without unnecessary stamp duty fees and no exit or deferred management fees.
“The land lease model allows downsizers to capitalise on the market and make the decision to move to Plantations to free up their equity and improve their lifestyle,” Mr Ronan said.
“The new release of homes has been designed to take advantage of Coffs Harbour’s coastal climate and lifestyle – it really is like a coastal oasis for downsizers right here in Coffs.”
As a part of the new master plan, Plantations by Ingenia Lifestyle will offer residents a host of resort facilities, including a fully fitted-out gymnasium, a bowling green, a cinema room, a library and sports bar, in addition to a swimming pool.
By Mark Skelsey, Editor of Downsizing.com.au