12:00a.m. 17th July 2008

| By Sam Benger

The real estate market may be suffering around the Coast, but it seems Pelican Waters is a haven for home buyers.

Pelican Waters land projects manager Geoff Coleman said the majority of blocks in the latest release of 16 home sites in St Pauls Avenue at Golden Beach had sold in a single day for more than $4 million.

“People were waiting with their cheque books in hand on the morning these sites went on sale and by 10am the office was full of people and we sold 15 of the 16 blocks,” he said.

“Altogether the 16 blocks sold for $5 million, with an average price of $307,000.”

He said last month the group sold $4.9 million of waterfront blocks, ranging from $690,000 to $1.3 million.

“Our last six releases at Pelican Waters have gone the same way, and they were priced to meet the market.

“This is reflective of the fact that while the real estate market has softened in the last few months, the demand here remains high.”

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He said the liveability and location of Pelican Waters made it a desirable destination for established homebuyers.

“This is not a place you drive through. It’s a destination in its own right and the fact that it is surrounded by the Pumicestone Passage and close to Caloundra, with all the infrastructure you need, makes it a lovely place to live.”

He said the next release would not be until Christmas when a mixture of residential home sites, waterfront and ocean access home sites went on sale.

Related:

> Caloundra's million-dollar property hot spot