Australia’s leading master-planned community Sanctuary Cove is enjoying a strong start to 2020 as construction activity cranks up after one of its strongest sales years in more than a decade.
The resort community capped off a stellar year after posting sales of more than $30 million in 2019, many of them in the final weeks of the year and sales have continued into the New Year.
The sales directly correlate with a wave of building activity across Sanctuary Cove’s diverse array of property types as buyers look to complete their homes across rare remaining pockets of waterfront and golf course land.
“Our sales rates are some of the best in the past decade and unequivocally reflect an improvement in the Gold Coast’s luxury market,” said John Hughes, the General Manager of Sales and Development for Mulpha Sanctuary Cove.
“It confirms the positive trend we have seen emerging in Sydney and Melbourne over the latter half of this year with prices there bouncing back sharply and producing some of the biggest gains in decades for those markets.
“The momentum has also been building locally and that’s good news for the Gold Coast market generally at a time when conditions were fairly robust to begin with.”
Mr Hughes said buyers of new properties at Sanctuary Cove have included a mix of south-east Queensland locals as well as interstate buyers, with many focusing on the latest releases from The Peninsula Collection located within the exclusive Sanctuary Point precinct.
Almost $25 million in new homes are under construction at Sanctuary Point which offers some of the rarest waterfront blocks in Queensland.
“The market is definitely on the move again, and despite the downturn in Sydney over the past couple of years, prices for luxury homes at Sanctuary Cove still offer exceptional value, especially within the context of a master-planned resort community,” said Mr Hughes.
“The value difference has been a key driver of buyer activity at Sanctuary Cove for some time and this is likely to continue into the new year.
“The Sanctuary Point precinct also offers some of the last north-to-water waterfront lots on the market and, when coupled with decreasing land supply in and around Hope Island, the compelling value of Sanctuary Cove becomes even more evident.
“We believe this has been one of the many underlying factors behind our exceptional sales performance so far this year.”
Sanctuary Cove has been the Gold Coast’s premier and awarded gated residential resort for more than 30 years, gaining an enviable reputation as the region’s most exclusive residential address.
It is home to two championship 18-hole golf courses, the five-star InterContinental Sanctuary Cove Resort and the community’s beating heart, the Marine Village, which offers a host of dining and retail facilities.
For more information, visit, www.sanctuarycove.com.au.