Almost 1000 people had registered their interest in the first blocks of land at Canberra's newest suburb, Macnamara, just hours after its release.
Registration opened on Thursday and before the end of the day there was already huge demand for the latest section of the Ginninderry development.
The first release will see 71 blocks of land and 55 house and land packages sold in a ballot release.
Prices for land start at $377,900 for a 350 square metre lot, through to $763,600 for the largest block at 935 square metres.
The average block size is 536 square metres.
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Project director Steve Harding said the number of registrations indicated there is still strong demand for vacant land in the ACT.
"I don't know anyone in the industry who would have predicted the levels of demand we've been seeing since around mid-2020, shortly after COVID hit," he said.
"A combination of all the government stimulus, the low interest rates and what I can only put down to that FOMO (fear of missing out) factor is just fueling demand at the moment."
The fierce demand for land in Canberra was made clear last year when 7500 people registered to buy 115 blocks of land released in Taylor.
Mr Harding said the next release of land in Macnamara is anticipated for the middle of 2022.
"We'll continue to seek to release more land as quickly as we can and our planning approvals allow," he said.
"The exact timing is a little bit dependent on approvals ... but hopefully this year, for instance, we'd be looking to release around about 250 blocks of land."
Named after Australian scientist Dame Jean Macnamara, the new suburb forms part of the larger Ginninderry development, a joint venture between the ACT government and Riverview Developments.
It follows the opening of Strathnairn, where more than 750 people now reside.
The suburb will also boast sustainability credentials, with all homes in Macnamara to require a minimum seven-star energy rating. It means homes will be designed from the outset with energy efficiency in mind.
Double-glazed windows, solar panels, the orientation of the home are all considerations, while homes in the suburb won't be connected to gas mains.
"Our view is the more efficient the homes are designed and built, the less energy they will consume. The cheaper they are to run, the more comfortable they are to live in," Mr Harding said.
Ballot registrations for the Macnamara land blocks and packages close on February 4, 2022.
Once complete, Ginninderry will be home to about 30,000 residents and 11,500 homes across four suburbs. Mr Harding said Macnamara would eventually house about 4500 residents.
The ACT government recently purchased two blocks of rural land in NSW that will form part of the development. The entire project is expected to span about 1600 hectares across the ACT and NSW.
