REVEALED: The number of homes already sold in new estate
HOME buyers are snapping up an average of 17 lots a week at the Sunshine Coast's $5 billion newest city, Aura.
Figures provided by Stockland showed 285 lots had sold since the official launch of land sales in April.
A further 1380 people have enquired about building their new home in the burgeoning estate formerly known as Caloundra South.
A large chunk of these enquiries, almost 30%, have been from first-home buyers.
Stockland Sunshine Coast Regional Manager, Ben Simpson said the first families were looking forward to construction beginning in October so they could move in possibly as early as March next year.
"We have received a fantastic response to our first land releases at Aura and buyer demand continues to be strong," Mr Simpson said.
It may be that house and land packages at Aura are selling for $140,000 less than neighbouring suburbs.
RP Data figures for June 2016 show the median house price for surrounding suburbs was $540,000 compared with Aura's average house and land package prices of $399,000.
"Average house and land packages at Aura are more than 25% lower than the surrounding local median prices for established housing," Mr Simpson said.
"The affordability of home sites within Aura combined with the current low interest rates are providing a prime opportunity for people looking to get on the property ladder or those looking for a place where their family can grow."
Mr Simpson said improving conditions within Queensland's residential market were expected to have a further positive impact on land sales at Aura.
"We're expecting land sales to continue to increase at Aura, and across all our Sunshine Coast communities, over the next 12 months as affordability continues to drive an improvement in market conditions within Queensland," he said.
"Stockland nationally has started the new financial year with a record 4,567 residential contracts on hand, with the success of new projects like Aura contributing to this impressive result."
The next land release would be available this Saturday, August 27, in Aura's first suburb of Baringa.
Lots range in size from 250 square metres to 505 square metres and are priced from $193,500 to $275,600.
The home sites will be close to future shops, schools and sporting fields and the Lamerough Creek Conservation Area. All home sites at Aura will be within walking distance of parks and playgrounds, with pathways and bikeways providing direct connections to all amenities.
The first stage of the $115 million Bells Creek Arterial Road is expected to be open to motorists by the end of this year (weather permitting) and will directly link Baringa with Caloundra Road.