Bay's Augustus estate reaches more than 400 sales
HERVEY Bay's Augustus residential development has passed the halfway mark in properties sold, clocking up 400 sales since its launch.
The 763-lot project, located in Urraween, has seen strong sales in recent months, driven by a first home buyers and retirees.
The latest run of sales at the estate case ahead of the March 31 expiry of the $12,000 Hervey Bay Housing Affordability Grant, which has been complemented by the State Government's boosted first home owner's grant of $20,000.
Villa World development manager Gary Hunter said the project has attracted consistent buyer interest over many years but the combination of the grants had generated an influx of buyers for the project.
"In recent months, we've seen record sales figures at Augustus from first-home buyers and retires alike," Mr Hunter said.
"Villa World has a great reputation in providing an affordable, quality product to market. The grant was just the icing on the cake."
First home buyers have accounted for 70% of sales at Augustus, with 20% bought by retirees and 10% by investors.
Augustus property consultant Ric King said sales momentum and figures have reflected reflected the success of the government grants.
"Augustus has seen a clear upsurge in first-home buyers and retirees lapping up the savings from the two government grants," Mr King said.
"The past three months saw unprecedented sales due to the pending expiry of the Destination Hervey Bay Grant which expired on March 31."
The Australian Government scheme made available 583 grants to help people into affordable housing, Planning and Infrastructure Portfolio Councillor Denis Chapman said.
"There were 400 successful applicants and others are still in pipeline waiting settlement," he said.
"The house and land packages were in subdivisions serviced by new road infrastructure along Urraween Road and Kawungan Way."
The grant scheme was an initiative of the Australian Government under the Building Better Regional Cities Program. Council only administered the funds on behalf of the Australian Government.