Buyers rush for ‘sold out’ SkyRidge estate despite 10-year lot supply

SkyRidge development at Worongary
The staggered release of lots for sale within a major housing development on the Gold Coast has unintentionally led to a misconception that the estate has sold out, fuelling demand and positioning the suburb of Worongary among Australia’s top regional growth areas.
A perception of scarcity has driven a buyer rush on land within the 3,000 home SkyRidge masterplanned community, despite the future progressive release of more than 2,000 lots to the market over the next 10 years.
SkyRidge sales agent Brinton Keath said strong demand for lots amid Queensland’s ongoing housing shortage was one factor underpinning huge growth in the broader suburb of Worongary, which was ranked the second top-performing regional suburb in the country.
The $1.5b community will have 3,000 houses.
Ray White data shows Worongary’s median house price rose from $929,000 in 2022 to$1,265,000 in 2023, placing it just behind Newcastle’s Coal Point.
Mr Keath said the area should continue its upward trend, as quality land availability was at an all-time low, driving home values up.
“Supply and demand are major factors in Worongary’s popularity, but future additional
infrastructure such as the retail village precinct in SkyRidge also adds to it,” he said.
“We’re experiencing strong enquiry for the land on offer here, but as it’s being released in a
staged approach people sometimes think we’ve sold out.
“This isn’t the case at all, we’re being responsible about what and when we put land on the
market, but this may also create a sense of scarcity as well.”
Staggered lot release has created a perception of scarcity
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Ray White Robina agent Grant Burgess said the statistics were encouraging for the area and the Gold Coast in general.
“The average Worongary home value has increased by $336,000 over the past 12 months
according to our research, placing it just behind Coal Point which increased by $345,000,
and making it second regionally in Australia,” Mr Burgess said.
“There are a number of factors that have contributed to this including the mix of block sizes
from suburban to rural, and a marked increase in infrastructure and new developments.
“Projects such as the $1.5b SkyRidge masterplanned community which is a new development for Worongary is certainly helping this trend.”
House prices in Worongary are on the rise.
The lots within SkyRidge offer a diverse range of home styles and lifestyle needs with a
range of properties now available to purchase from $578,000.
SkyRidge will include a shopping and retail centre, green spaces, and recreational and art spaces, with completion of the estate’s first neighbourhood, named The Ascent, scheduled for later this year.

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