$2m spent each week snapping up Mary Valley land
ENTHUSIASTIC buyers are spending nearly $2 million a week buying up Mary Valley land, the State Government announced yesterday.
Deputy Premier and Infrastructure Minister Jeff Seeney says sales of land bought up for the failed Traveston Crossing dam project have soared "with a record 48 sales worth $11.67 million taking place in the last six weeks".
He described the number of sales as impressive and said the land was selling "about 50% faster than last year".
"The Mary Valley property market has really gained momentum with 109 sales so far this year," he said.
"It's a long way from the $500 million wasted by Labor on the dam, but it shows this Government has a strong plan for the region's future.
"We hoped to crack a century of sales in the first five months of this year and we achieved this aim. It's an impressive record given last year 98 sales were made over the entire year.
"Our government's Mary Valley revitalisation strategy has provided an affordable opportunity for Queenslanders to enter the housing market, with 48 of the 109 sales made to existing tenants of the properties.
"Purchased property prices have averaged $248,300 per property, with prices ranging from $71,000 for a vacant parcel through to $590,000 for a large rural site.
"There has also been strong interest in eight properties that have been heavily discounted as they are being offered with tenants on long term leases.
"Selling agent Oliver Hume received 15 expressions of interest in the eight properties within two weeks of their release. We're in negotiations to sell five of them."