Registrations have opened for the second release of land in Macnamara, part of the Ginninderry development in Canberra.
Hopeful buyers will have the opportunity to secure one of 117 blocks in three ways. Fifty-one blocks will be sold by ballot, 35 blocks are set to be auctioned and 31 house and land packages will be up for sale.
It follows the first land release in January, which saw around 12,300 registrations for 71 blocks of land. Once registrations were vetted for multiple entries, the number of confirmed buyers was around 8700.
Ginninderry head of marketing and communications Marcus Mills-Smith said the second release had already garnered strong interest in the first few hours on Thursday.
"Since [the first release] there's been some changes to the dynamics with increasing interest rates but even so we're still expecting a solid level of demand," he said.
"So far since this morning, we've already received over 1000 registrations, so I think that speaks to the level of interest and people's want to find a home."
The blocks vary in size from 392 square metres to 1083 square metres.
Prices for the ballot blocks start at $547,200 and range up to $735,500 for the largest block at 693 square metres.
The estimated date range for settlement on these blocks is between December 23 and May 24, after which successful buyers can commence construction on their homes.
Mr Mills-Smith said auctions for the Brindabella View blocks will take place over six days in July, following the ballot block selection day.
"We really wanted to, a, provide multiple opportunities for people to purchase if perhaps they missed out on the randomisation of the ballot and, b, it was a decision based on the fact that these unique Brindabella blocks have extraordinary views," he said.
Earlier this week, The Canberra Times revealed the ACT government will fail to meet its land release target this year.
More than 4700 blocks were scheduled for sale this financial year, but the government conceded hundreds will not go to market by June 30.
Mr Mills-Smith said future releases in Macnamara were subject to planning approvals.
"At this point in time, this is the number of blocks we can release and we'll be working with the development team and the relevant authorities to bring more land on when we can," he said.
Located on the west edge of Belconnen, Macnamara is expected to house about 4500 residents once complete.
The broader Ginninderry area will be home to some 30,000 residents and 11,500 dwellings across four suburbs, including Strathnairn.
The development is a joint venture between the ACT government and Riverview Developments.
All homes in Macnamara will require a minimum seven-star energy rating. To achieve this, double-glazed windows, solar panels and the orientation of the home will all be considered, while homes in the suburb won't be connected to gas mains.
Ballot registrations for Macnamara's second release are now open until June 3, while auction registrations will open on June 18.
Buyers can attend the Ginninderry display village from Saturday, May 21 to find out more about house and land packages.
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