ESTATE SUCCESS: McCloy Group are
ESTATE SUCCESS: McCloy Group are "blown away” after half of stage one of Goonellabah's Eastwood Estate has sold within 24 hours.

HOT PROPERTY: Blocks at new residential estate going fast

IT'S a developer's dream - a newly-released residential estate has sold more than half of their properties in the first 24 hours.

McCloy Group project manager Sam Rowe said of 23 properties offered in the first stage of the new Eastwood Estate in Goonellabah, 12 were sold within 24 hours.

Mr Rowe said the new flood-free offering had attracted more than 200 people to inspect the site of the soon-to-be-built estate off Invercauld Road, many of which were families.

"We were pleased to welcome many local families," he said.

"We received good feedback about the quality of the development and future plans for a children's park and playground."

He said developers were "blown away" by the interest in the first stage of the estate.

"There had been keen interest from buyers for several weeks in the lead up to the launch, with prospective buyers eager to secure their piece of the community," Mr Rowe said.

He said demand was so high, a prospective buyer camped overnight on the site the night before the launch to ensure their purchase.

The new Eastwood Estate will span 21 hectares and bring 135 new properties to the market across several stages.

Mr Rowe said he believes the estate has enjoyed such success because Goonellabah was identified as a key growth area of the Northern Rivers with its proximity to Lismore CBD and coastal beaches of Ballina, which presented a major appeal for buyers.

"We identified the need for an affordable housing offering in the area and by enlisting leading civil contractors and we've been able to deliver stage one, within 18 months of acquiring the site," he said.

"Our approach goes beyond property development and we wanted to showcase that by building stage one before releasing to the market, so buyers were able to walk the site."