Victorian land sales are holding up as grants kick in: Oliver Hume

Victorian land buyers continue to lock in purchases despite the State’s strict lockdowns, with developer and government incentives encouraging many to push ahead despite being unable to visit most estate.

The State’s leading project marketing group Oliver Hume has achieved an average of 70 reservations per week over the last six weeks as a result of new innovative processes for selling land as well as a sales and marketing team that have lead the way in educating buyers virtually.

Oliver Hume has also launched a new $25,000 initiative which matches the Federal Government’s $25,000 Home Builder grant. The $25,000 Perfect Match campaign is available at selected projects marketed by Oliver Hume. Buyers can also utilise Oliver Hume’s new online deposit system which has experienced strong demand during lockdowns.

Oliver Hume Chief Executive Officer Julian Coppini said the new bonus had been in high demand since it was launched in late August.

“While buyer demand has been impacted by the lockdown we are still seeing strong levels of enquiry and sustained sales which has our current sales rate still higher than March, April and May before the HomeBuilder grant was announced,” he said.

“Many buyers have understood the new processes due to being in a lockdown and are happy to rely much more on digital presentations, inspections and communication as part of their purchase decision.”

“Buyers understand the extraordinary nature of the current market and appreciate the opportunity to utilise the support measures and grants from the state and federal governments in conjunction to developers providing attractive offers in market”

“The incentives and grants combined with low interest rates have generated some of the best buying conditions in a generation.”

Mr Coppini said the industry was quickly adapting to managing sales through the lockdowns with buyers becoming more confident navigating the purchase decision in a fully digital environment.

“Oliver Hume is thankful for the ongoing digital transformation it started on years ago as it has been a major benefit to our vendors and purchasers over the last six months. Many of the systems and processes we have put in place will become permanent features in the land buying process,” he said.

Earlier this year, Oliver Hume launched a new digital deposit platform that allows buyers to secure and pay a deposit on their new block of land, without ever visiting a sales office or meeting in-person with a developer representative.