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Devine Sales Boom on House & Land Packages
09/14/2010

Queensland, AU - Despite the reduction from the First Home Owners Grant last month, land sales at Queensland development company Devine Communities still continues to boom and gather up sales. It has sold over 150 homesites at its Queensland estates, since the reduction of the First Home Owners grant on September 30. For the last six months to December 31, 2009, it only achieved about an excess of 1000 net land sales and 700 net house and land packages that are sold over Queensland, Victoria, and South Australia.

However reports said that Devine, a Property Developer has already announced that the housing and land sales ahead of the release of its interim financial results this month has continued to remain strong.
Devine’s Operations Manager Peter Ryan said the cut to the First Home Owners grant had had no negative impact on sales, and the market had continued status quo for Devine Communities.

”Interest rates are still very low despite recent rises by the Federal Reserve and most lenders. It also remains fact that across Australia there is a shortage of housing. For both of these reasons the market has continued to show an appetite for new land releases by Devine,” he said.

In three states the house and land and land only sales for the period were significantly up on the corresponding period for the last previous year. Queensland had gathered at least 197 percent lift in house and land packages, and 130 land only sales. While Victoria has at least 56 percent increase in house and land package sales, and more than 300 land only sales.

More reports about its detailed and latest release will be made available soon.