Bellarine Lakes Country Club at Moolap, a suburb of Geelong, has commenced selling stage 8 despite construction not been completed until early 2024. The first two deposits were $1.23 million which compares to the same design priced in 2014 at $522,000 (three bedroom, double vehicle garage).
Scott Waldron, Head of Sales & Marketing, points out the increase in price is $752,000 in eight years, a 137.9% rise. Over the last 10 years, the median house price in the City of Greater Geelong has increased by 106.2%.
Geelong is a hotbed for retirement village and land lease operators. On our No.1 website villages.com.au, we list 22 retirement living and retirement villages in the area. Stockland is planning two land lease communities – 250 and 320 homes respectively.
Scott is unperturbed.
“In the last couple of years, we have deposited 12 homes for over $1 million, the dearest is the latest for Stage 8,” he said.
“Stage 7 two-bedroom designs sold for between $772,000 and $908,000. They were all sold by December. We had to resell a few because resale villas became available and were taken up by a some of those clients who had deposited because they preferred not wanting to wait for the build of stage 7."
He added that the resales go “straight away” and the price is a winner for the person leaving.
