Secure property in Florian, Yves, Natura with only $10k deposit

WORDS: Ocean Road Magazine Editorial Staff PHOTOGRAPHY Supplied

INNOVATIVE DEPOSIT PLATFORM COPOSIT’S RAPID GROWTH ACROSS SOUTH EAST QUEENSLAND

Home deposit disrupter Coposit, which has made waves in the Australian real estate market for breaking the traditional deposit barrier, is setting its sights on facilitating up to $1 billion in property sales over the next 12 months as it gears up to expand across South East Queensland.

The Sydney-based Coposit – which offers home buyers the opportunity to buy property without an upfront deposit and no additional fees – says it expects revenue to double over the next two to three months, along with the number of developers that have adopted the Coposit model for their projects.

This forecast follows the company recently announcing its seventh partnership in Queensland since launching its platform to the Queensland market late last year.

This time last year, Coposit had five national projects on its deposit-saving platform. Now the company has 38 national projects on its books with expectations that this will double by the end of FY24.

The Coposit app allows buyers to purchase off-the-plan properties with an initial $10,000 deposit and pay the remaining deposit in manageable weekly instalments, known as ‘coposits,’ throughout the construction phase of the project.

By the time the property reaches settlement, Coposit ensures that the homebuyer has accrued a complete deposit, all without any interest or fees.

Coposit CEO and Founder, Chris Ferris, believes that Coposit’s expansion across SEQ aligns perfectly with the increasing demand for innovative property solutions especially on the Gold Coast.

“Given how well Coposit has been received in Victoria and New South Wales, we were eager to expand into the Queensland market,” said Mr Ferris.

“The Gold Coast in particular has emerged as a hot spot for developers and lifestyle seekers alike, emphasising the need for a game changing innovation to allow more Gold Coasters to unlock the coastal dream.”

Coposit has announced its newest partnership with Gold Coast based Gallery Group for its Natura project in Upper Coomera, opening up the opportunity for buyers to secure one of 45 properties.

National Business Development Manager of Gallery Group, Alexandra Stuart-Robertson, believes Coposit is an impressive initiative to help buyers get a foothold into the Gold Coast property market.

“Whether you are a first-time buyer or an established investor looking to buy off-plan, we encourage buyers to enquire about Coposit,” said Ms Stuart-Robertson.

“We’re thrilled to be working with Coposit as we share the vision of making the dream of owning a home a reality for more Australians and with Coposit’s unique approach to deposits, we are confident that Natura will become even more accessible to a wider range of buyers.”

Coposit successfully launched into the Queensland market late last year by partnering with Hirsch & Faigen for its $200m Yves Mermaid Beach development.

“Urban Activation was the first agency to introduce Coposit into Queensland with the Yves Mermaid Beach project,” said the director of Urban Activation, Matthew George.

“Given cost of living pressures and economic factors, this new initiative that supports buyers entering the property market has been fantastically received on the Gold Coast.”

Since its launch Coposit has quickly become a game-changer for the Gold Coast property sector and is now collaborating on seven projects across Queensland, including Florian in Surfers Paradise.

Director of Colliers Residential, Rachel Hutson, highlighted how Coposit is changing the industry landscape, particularly in the Gold Coast property market.

“Coposit is changing the game for deposit payments, making it more accessible and adaptable. We’ve seen its success in our previous projects, in both New South Wales and Queensland including our Florian project,” said Ms Hutson.

“The Gold Coast is experiencing a surge in real estate interest and Coposit’s expansion into this region couldn’t have come at a better time and is an incredibly valuable tool for both buyers and developers.

“Coposit is reshaping the way our buyers think about property deposits and is poised to address the unique needs of this market and provide a path to homeownership that aligns with the changing dynamics of the Gold Coasts property landscape.”

“Like all of Australia, the Gold Coast is facing a massive housing shortage, which is creating challenges for governments at local state and federal level, while at the same time affordability is being driven up by this lack of supply – meaning property prices are now out of reach especially for young people,” said Mr Ferris.

“What we have done is look at the issues and developed a strategy that takes the burden away of coming up with a lump sum of tens of thousands of dollars upfront while allowing people to save for their property but get to a significant deposit position prior to settlement.”

“Our business is a game-changer that radically changes the way people need to save for a property deposit,” said Mr Ferris.

“We’re growing rapidly, and we’re excited to bring this game changing product to the Queensland market which helps fast-track the ownership goals and dreams of Queensland homebuyers, in many cases by years.”