Deposit disrupter Coposit's rapid growth in South East Queensland

Innovative home deposit platform, Coposit, continues to cause a stir in the Australian real estate market with plans to facilitate up to $1 billion in property sales over the next 12 months in 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.

Celebrating its seventh partnership in Queensland, the company aims to double the number of developers using the Coposit model for their projects.

Last year, Coposit had five national projects on its deposit-saving platform - today, the number has escalated to 38 with expectations to double by the end of FY24.

Coposit's unique offering allows buyers to purchase off-the-plan properties with an initial $10,000 deposit, paying the rest in manageable weekly installments, coined as 'coposits', throughout the construction phase.

By the time the property reaches settlement, home buyers have a complete deposit, all without any interest or fees.

Chris Ferris, CEO and Founder of Coposit said, “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's newest partnership is with Gold Coast based Gallery Group for its Natura project in Upper Coomera.  

Alexandra Stuart-Robertson, National Business Development Manager of Gallery Group, 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," she said.

"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."

The company successfully entered the Queensland market last year by partnering with Hirsch & Faigen for its $200m Yves Mermaid Beach development.

Director of Urban Activation Matthew George said, "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."

Colliers mirrors this sentiment, with Director of Colliers Residential Rachel Hutson highlighting how Coposit is changing the industry landscape, especially in the Gold Coast property market.

"Coposit is changing the game for deposit payments, making it more accessible and adaptable," she said.

We've seen its success in our previous projects, in both New South Wales and Queensland including our Florian project.

"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."

For more on off-the-plan apartments, news, and market insights, click here.