ALMOST half the people buying coastal lots in Yanchep recently have been cash buyers, according to a developer.
Capricorn Beach estate manager Richard Cull said four of nine buyers for 28 lots for sale in the beachfront release had been cash buyers.
“These cash buyers paid as much as $344,000 for one ocean front lot,” he said.
“Currently, we have only one absolute beachfront lot remaining for sale in this release which has spectacular ocean views and is priced at $298,000.
“The other remaining lots in this stage are all located just a few metres from the beach with prices starting from just $246,000.”
Mr Cull said planning was underway to transform the 12ha former Club Capricorn Resort site into a “lifestyle destination with recreation, tourism, cafes and restaurants and a variety of residential housing”.
“Yanchep is an established community which has schools, shops, medical centre and already has a variety of social facilities,” he said.