Stockland jumped into the land lease community market in 2019, announcing it would build up to 3,000 homes under the Thrive brand with land it had in its existing portfolio.
Four years later it has 7,200 home sites available to build, overtaking the aggressive leader Ingenia, which now has 6,450 home sites in the bank.
These are remarkable numbers when you consider Ingenia built and sold 115 homes in the last half year and have 355 deposits, and Stockland sold 127 homes and hold 452 contracts.
It is going to take a long time to use up those home sites!
But against that is the time to get approvals, deliver infrastructure and fund aggressive build programs. And all this time construction prices are increasing.
But as every real estate person will tell you, God is not inventing any new land, so securing it is the key.
And Stockland is proving very good at securing it. Ingenia has been at it for 10 years to build its land bank, but it took just four years for Stockland to assume leadership.
Equally, to achieve the acquire and build numbers, both are producing exceptional results.
