CLARENCE PROPERTY BREAKS GROUND AT FLAGSHIP RESIDENTIAL COMMUNITY, SWELL WOOLGOOLGA
Property developer and fund manager Clarence Property has commenced construction on its flagship Swell Woolgoolga master-planned residential community, a $110 million project that will deliver over 210 new homesites to the supply-constrained Coffs Coast market.
The first release will comprise 30 level homesites in the Retreat neighbourhood, ranging from 499 sqm to 812 sqm, with prices starting from $490,000. The offering is expected to attract strong interest from first-home buyers and young families eager to secure a foothold in a region where land supply remains scarce and house prices continue to rise.
Clarence Property CEO Simon Kennedy said Swell marks a significant milestone for the group following the sell-out success of its EPIQ Lennox Head community.
“Breaking ground at Swell reinforces Clarence’s commitment to delivering well-planned estates that not only address the state’s housing shortage but also seek to add to what are already incredible coastal communities,” said Mr Kennedy.
“This project is about more than just delivering lots; it’s about creating a connected neighbourhood that reflects the character of Woolgoolga and the growth trajectory of the broader Coffs Coast.”
“The Coffs Harbour residential market has experienced escalating growth in recent years, driven by regional migration and the appeal of a more affordable, family-friendly coastal lifestyle,” said Joshua Binkley, Associate Director of Urban Economics.
Coffs Coast is experiencing rapid growth as buyers are drawn to the affordable, laid-back lifestyle, driving house prices up by 55% in the past five years as demand outstrips supply, creating an estimated need for 900 detached dwellings by 2041, according to a new report by Urban Economics.
“Residential building approvals have decreased significantly since COVID-19, declining to their lowest levels in more than a decade across the Coffs Harbour region and Woolgoolga, despite ongoing population growth.
“This suggests that demand and price growth will continue to outpace new supply for the foreseeable future. Vacant land sales in the Woolgoolga catchment have been at their lowest volume for over a decade, while the median price of vacant land has almost doubled since 2020, reflecting the disparity between low supply and strong demand.
“As of March 2025, the median house price in Woolgoolga and surrounds had reached $910,000, around $60,000 above the broader Coffs Harbour LGA, underscoring its position as one of the region’s most tightly held and desirable pockets.
“The report also highlighted that rental markets are under pressure, with vacancy in the 2456 postcode sitting at just 1.9%, well below the threshold of a balanced market, while rents have surged by more than 30% since 2021.”
Senior Development Manager Jim Hillery said Swell has been designed with both lifestyle and market realities front of mind to cater to the growing demand in Woolgoolga.
“Woolgoolga has one of the tightest land markets on the Coffs Coast. There’s been very little supply for years, and when it does come on, it’s often snapped up straight away,” said Mr Hillery.
“Swell changes that dynamic. We’re delivering homesites that are generously sized, well-priced and close to the coast, which means they’ll appeal to local families who want to stay in the area, as well as people looking to relocate for lifestyle reasons.
“It’s about creating an amenity-rich community with residential options that haven’t been available here for a long time.”
Strategically positioned adjoining the Wiigulga Sports Complex, Swell’s Retreat neighbourhood, which is accessed via Newmans Road, is less than1.5km from the beach, minutes to Woolgoolga High School and the town centre and offers residents both lifestyle and convenience.
Clarence Property has appointed SEE Civil as civil contractor, De Groot & Benson for civil design, Coffs Clarence Surveying, Newton Denny Chapelle as town planners, and Cardow & Partners as exclusive selling agents.
Cardow & Partners principal Nicole Cardow said demand was already building, with over 100 buyers registering interest ahead of launch.
“We’re already speaking with families and locals who want to be part of Swell. Opportunities of this scale in Woolgoolga don’t come around often, and the early interest reflects that,” said Ms Cardow.
With construction now underway by SEE Civil, the first land release at Swell is set to launch in the coming weeks.
The launch of Swell also comes as Woolgoolga benefits from significant infrastructure investment, including the recently completed $28 million Wiigulga Sports Complex and the $2.2 billion Coffs Harbour Bypass, due for completion in 2027, which will further enhance connectivity across the region.
Founded in the Northern Rivers of NSW, Clarence Property currently manages a diversified portfolio across residential subdivisions, retail, commercial, and industrial assets, with more than $860 million in assets under management, and continues to expand its pipeline across Northern NSW and Southeast Queensland.