A DALYSTON estate has sold out one year ahead of the initial schedule, with several stages selling out in just 24 hours.
All 145 blocks at the Cloverdale Park estate have been sold, with titles expected in the next few months for the early stages.
PBE Wonthaggi’s Adam Mabilia said it all comes down to supply and demand.
“The Cloverdale Park’s probably been fast-tracked about a year because there is that high demand,” he said last week.
The estate sold out in less than 10 months.
“We can see it taking shape, we’re starting to see the footpaths and the playground will be in soon.
“It’s good proximity to the beach at Kilcunda and the shops in Wonthaggi.”
A 594m² block in the first stage of the estate sold for $109,000.
A similar sized block in Stage 7, at 604m², has just sold for $140,000.
“The last stage was quite close to the highway and usually people might be a bit hesitant, but not here.
“There’s a real urgency from buyers, but a lack of properties on the market.
“The increase in property prices in Wonthaggi, and across Bass Coast, is steady growth. It’s healthy and that’s how you want it to unfold.”
Stage 3 of the Powlett Ridge estate in Wonthaggi will be released in the next few months, following strong demand in stages one and two.
He said it’s crucial Wonthaggi has the infrastructure to deal with the population growth.
“We’re seeing that with the new traffic lights, as well as school and hospital upgrades.”