The Gold Coast’s ongoing shortage of affordable residential land will ease slightly in the new year with the release of 28 new homesites at HB Land’s Calli Upper Coomera project.

The release of the new homesites comes as new data from property services group Oliver Hume shows there were just 65 vacant lots available on the Gold Coast in early December, with a median price of $995,000. Over 50% of available land on the Gold Coast are premium homesites at Sanctuary Cove.

The 196-lot Calli Upper Coomera project has achieved more than 100 sales since its launch in March this year. Lots in the new release scheduled for January 2025 range in size from 450-617 sqm with prices expected to start from around $650,000. 

Analysis of November sales data from across the Gold Coast showed 38 vacant land sales, with just 65 lots still available at the end of the month. October was the third-highest sales month over the last 12 months, beaten only by June (42) and September (41).

Oliver Hume Queensland General Manager Dan Ross said vacant land was becoming one of the Gold Coast’s most valuable commodities as the supply of new projects remained at historic lows.

“The Gold Coast population continues to grow much faster than the rest of the country, and land supply is not keeping up with that growth,” he said. “The first stages of Calli were released earlier this year and attracted a huge amount of enquiry and sales, and we expect the next release to be the same.”

“Buyers love everything about living on the Gold Coast, and the competition for homesites and the opportunity to build your own home is stronger than ever.

“The shortage of land on the Gold Coast is not unique, with many other regions around Australia also experiencing shortfalls, but the situation on the Gold Coast is particularly acute.”

Mr Ross said the shortage of land on the Gold Coast would remain for the foreseeable future and was contributing to continued price growth.

“The average price for a sqm of land on the coast is now more than $1,500 and has grown steadily over the last 12 months,” he said.

HB Land acquired the 18.85ha site for Calli Upper Coomera in December 2021, received Development Approval for the project in September last year, and appointed Oliver Hume to manage sales and marketing at the project. A project display suite was opened officially in November this year.

The project’s flat, terraced homesites are ideal for cost-effective building and provide sweeping views across the Coomera Valley. Calli is located 25 minutes from the Gold Coast and 45 minutes from Brisbane.

HB Land Chief Executive Officer Michael Vinodolac said the Calli project had been specifically designed to maximise the lifestyle benefits of its elevated position.

“We have put a lot of work into the design and terracing of each homesite to ensure we are maximising the views across the valley and allowing each buyer to immerse themselves in the lush greenery that Upper Coomera has become known for,” he said.

“We have also put a lot of effort into maintaining the strong connection to nature that Upper Coomera is famous for. While there is plenty of open space, we add another 4,400 sqm with a purpose-built playground and recreation areas to enhance the native greenery.”