Claremont land release going gangbusters – realestate.com.au

News Corp Australia Network

IN just weeks of hitting the market, about half of this major land release has already been sold.

Dubbed Toffolis Green, about 50 blocks of land hit the market in Claremont last month, with dozens already transacted.

LJ Hooker Pinnacle Property sales consultant Ben Ayers said demand for the properties had been strong.

He said the market reaction was instant.

“We launched in late June, and they have gone pretty quickly,” he said.

“The area is a major part of the appeal. It is a place people want to be.

“There are not a lot of land buying options outside of Toffolis Green in the Claremont area.

“For this price, and having the roads and connections already established, buyers have certainly found the development’s offering appealing.”

MORE: Country pub sale is a deal four decades in the making

Forecast: Where rents are set to increase the most by next year

The lots range in size from 403sq m to 998sq m, providing ample room to build a home with plenty of space for a backyard oasis or garden.

Mr Ayers said prices start at $219,000 and range up to about $290,000.

He said there were also opportunities for those who wanted to purchase a dual-dwelling site, with the potential to become an income opportunity.

Mr Ayers said there was also an opportunity here to take advantage of government incentives for home builders.

MORE: Divine makeover from church to heavenly home

‘Weakest market’: Hobart home pricing yet to rebound

“Demographic-wise, our buyers have primarily been first homebuyers and investors,” he said.

“These lots have provided an opportunity for people to enter the market.

“In time, the investor purchases could add more rentals to the suburb.

“A development of this size can have a substantial and positive impact on housing supply in the area.”

Toffolis Green is a picturesque setting in Claremont offering a perfect balance of natural beauty and modern convenience.

Property owners will be just minutes from central Claremont, allowing easy access to major shopping centres, dining, schools, transport and entertainment.

Mona is just a six-minute drive from here.

The blocks of land at No.20 Toffolis Rd, Claremont are listed with LJ Hooker Pinnacle Property. They start at $219,000.