Stockland : Signs of buyer confidence returning with sell out weekends at several Stockland communities

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Stockland has recorded a series of sell out weekends across several of its masterplanned communities nationally, suggesting buyer confidence is returning to the market.

Stockland's Executive General Manager, Masterplanned Communities, Mike Davis said signs of improved buyer confidence could be from a combination of interest rates stabilising, a greater diversity of choice in lot sizes with more affordable entry points available and continued strong employment.

"Over the past few months our onsite sales teams are seeing a shift in buyer sentiment. Recent sellout weekends at some of our Stockland communities have been likely driven by renewed buyer confidence, diversity of lot sizes and more affordable price points," Mr Davis said.

"First homebuyers and customers looking to upgrade to a larger home have represented most of our recent sales. We've found a big proportion of customers looking to upgrade already live in our Stockland communities and they're keen to stay in the neighbourhood.

"We're seeing customers drawn to Stockland communities which have easy access to transport links, employment, and shops. They're also close to childcare, doctors, schools, playgrounds and open space.

"Stockland has built a proud legacy of helping more Australians achieve home ownership. Homes in our masterplanned communities are an attractive option for young families across Australia."

New South Wales

• New South Wales experienced particularly strong uptake in October 2023 with three communities - Stockland Forest Reach, located south-west of Wollongong, and Stockland The Gables in the Hills District as well as Stockland Lakeside, Gledswood Hills - recording close to sell out weekends.
  • The Gables has seen a strong interest in land releases over the past several months, with pent up demand for larger lots. To-date, 114 lots have sold since July 2023. Many of the customers are local residents of The Gables, choosing to upgrade within the community and build new.
  • At Forest Reach, the release of 10 new lots over the 21 and 22 October weekend were immediately sold, and an additional two deposits were taken, bringing the total weekend sales to 12.
  • Lakeside held a sales release over the 28 and 29 October, with 12 deposits from a mix of upgraders and first home buyers. Several customers had been referred to the project from friends in the area.

Dashmeet Singh and his wife, Mandeep Kaur, recently purchased at The Gables and have always dreamed of building a new house to raise their two daughters, Ibadat and Kudrat.

After living in Glendenning, 44 kilometres west of Sydney's CBD for the past nine years, their decision to buy was influenced by the public transport and schools near The Gables.

"I'm looking forward to building my dream home and starting a new chapter of our family's lives in a community that continues to grow," Mr Singh said.

"We're very close to Rouse Hill Metro, many local schools, and shopping centres, making it a convenient place to live and raise my family."

Making the move to The Gables even more exciting for the family, Dashmeet's cousin Narinder Pal Singh, his wife Harjit Kaur and their children Kamal and Gursimran have will be living on the same street.

In recent months, there have been strong sales and increased demand across Stockland's communities nationally:

Queensland

• Stockland Aura is one of Australia's largest master planned communities located on the Sunshine Coast:
  • At the start of November, Acacia at Aura precinct sold out 23 of 24 lots in the weekend of release, with all lots now allocated.
  • At its recent Pinbarren at Aura land release, 15 lots were put on hold before 8:02am, with interest mostly from upgraders and first homebuyers.
• Stockland Newport, a coastal community in the Moreton Bay region, saw around 80 percent of lots in its first Parkside land release sold within the first week on the market, with 11 out of 13 lots sold.

Victoria

• Stockland Evergreen, located in Melbourne's south east suburb of Clyde, sold all 11 lots in its first release, with a further three lots brought forward to service those customers who missed out on the release lots.

Western Australia

• WA FY24 Q1 sales were 40% above target, with a surge of interest from interstate buyers and local first home buyers returning to the market.
• Stockland Amberton Beach and Stockland Sienna Wood are both selling strongly.
  • Amberton Beach in Eglinton was Perth's top-selling project across the state and the northwest corridor in Q1 at 96 lots.
  • Sienna Wood in Hilbert and Haynes was the highest selling project in the southeast corridor at 54 lots. Releases have been brought forward at these communities and also at Stockland Wildflower, to accommodate demand.

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