Stage 1 with 10 cottages at the new Bethanie Esprit Cottages in Bunbury, on the coast 175km south of Perth, sold out in the first week on the market. Stage 2, which has not commenced construction with 12 cottages, has only three homes remaining.
The interesting point is they are priced from $299,000 while over the fence a two-bedroom villa or home can be secured in the town for $249,000.
To buy a villa in Hayes Street, one street back from the ocean, is $299,000.
Meanwhile Lendlease is also doing well price-wise; it has Villa 65 at its Woodstock West village in Bunbury on the market for $320,000.
These figures compare to the PwC Retirement Living Census which reported retirement village homes across the country are selling at 65% of the value of an equivalent property in the same postcode. Bunbury is a retirement destination, indicating that potential buyers understand the value that retirement villages deliver beyond housing.
