Buyers devour Highfields release

Housing demands is one of the big issues facing the Surat Basin.
Housing demands is one of the big issues facing the Surat Basin. AAP

THE release of the first stage of the Highfields Estate in southern Emerald last Friday can best be described as a feeding frenzy after all 103 lots were sold in 48 hours.

Emerald Real Estate principal Jason Campbell said it reinforced the confidence developers had in the town's future.

"I was expecting a positive reaction to the estate, obviously land has been withheld for some time, but 48 hours did surprise me," Mr Campbell said.

"Both I and my sales staff never expect that kind of reaction … They had a very busy weekend.

"It reinforces the longevity of Emerald and the confidence people have in the town.

"For instance, Harvey Norman are only going to build two new sites in Australia this year - Emerald is one of them."

One larger developer unsuccessfully tried to tie up 50 lots in one hit.

"The largest parcel was 20 allotments to one buyer," Mr Campbell said. "There were people trying to put blocks on hold without deposits, which we wouldn't do."

Deposits were minimal, $1000 each, but further payments will be expected when contracts are issued.

Mr Campbell said some local builders picked up lots.

"Some of the smaller builders got some, they picked up maybe one, two or three lots," he said.

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