Ingenia Lifestyle has announced the 200th settlement at its Latitude One community in Port Stephens, approximately 50km north of Newcastle.
The 270-home land lease community has seen strong interest since it was launched in July 2018, with 90% of homes now sold and less than 20 still waiting to be released.
By our back-of-envelope calculations, that’s around 12 homes being sold every month since the community was opened.
Latitude One was also the first community in Ingenia’s premium ‘Star Collection’ which typically sits at a higher price point.
Three-bedroom homes in the community start at $600,000 – lower than the $642,500 median price for a three-bedroom home in the local Nelson Bay area, but still higher than your average land lease home.
The community may yet hit more milestones.
In a sign of its success, Ingenia received approval from the local council in December last year to expand the community to 440 homes.
