Hot Property at Worongary

A $1.5BN in-demand Gold Coast development will avoid problems of previous develop­ments, city leaders say.

More than 15,000 have reg­istered to secure one of 3500 houses planned for Woronga­ry’s Sky Ridge subdivision. Demand is so high, devel­opers Perron Group and Ross Atkins are staging a ballot.

Area councillor Glenn Tozer welcomed the progress, after it was first proposed a decade ago, saying the devel­opers had put limits in place to prevent houses being snapped up by investors and left empty.

“A ballot seems the fair way to determine who will form the foundation of this new Div­ision 9 community,” he said.

“I’m informed the first thousand interested, back from 2016 when it was known as Pa­cific View Estate, will be part of the ballot for the first 50 properties. Contract condi­tions prevent investors and flippers from being opportun­istic because they’re looking to build a real community of owner-occupier residents.”

The ballot begins this week. The site, off Hinkier Drive, has been cleared. The entire development, to home 10,000 people, is not expected to be completed until 2036.

Its size will rival Varsity Lakes, or Chevron Island, Bun­dall, and part of Surfers Para­dise combined.

Mr Tozer said it was critical to relieve pressure on housing.
“Demand for property in the Hinterland has never been greater and Sky Ridge will have a range of variables that make it a compelling option for many families looking for a place to build close to wonder­ful private and public schools.

“It’s not just Sky Ridge and Worongary though; Bonogin, Tallai and Reedy Creek are also seeing unprecedented de­mand from home buyers. They’re all great suburbs.”
It is expected to inject $3.2bn into the economy in the next 15 years.
Queensland’s Shadforth is doing the first $20m civil works package. Works include road and sewer upgrades to Hinkler Drive, bridge cross­ings and display village lots.