Stockland offers up to $30,000 ‘cash back’ on ILU purchases. Record sales but is it a good move for Stockland or the industry?

Between August 29 and October 21 in NSW Stockland staged an industry first, up to $30,000 cash back on homes purchased in selected villages. For instance at Golden Ponds near Forster, an ILU priced at $260,000 gave a $26,000 cash back, while The Willows Village at Winston Hills priced at $375,000 generated $5,000 as a cash back. Who controlled the sale price and the shares in capital gains and DMF is not known, but at the recent Stockland AGM it was claimed September was its best sales month ever in Retirement. Interestingly, total sales for the Quarter matched the previous Quarter April- June: 218 sales, July-September: 217 sales. Stockland has 61 villages nationally.

How the pricing that was then discounted by the cash back and how the sector will take to this new sales technique is not known.