As house prices continue to soar in Australia’s hottest property market, buyers can look forward to homes selling here at ridiculously low prices.
A new suburb on the outskirts of Greater Sydney will sell thousands of homes starting at $600,000.
North Wilton is just 30km north of Wollongong and only a half-hour’s drive from some of Illawarra’s pristine beaches.
The new suburb started development this week and is expected to offer up to 5000 new home over the next 25 years.
Landcom chief executive Alex Wendler said it would be one of Greater Sydney’s most affordable developments, with stage 1 of the project set to deliver it’s first lots at an average price of $600,000.
The community will achieve a six-star green star rating, with residents able to enjoy 360 hectares of an environmental conservation area and about 52 hectares of high-quality open space.
“Several initiatives will enable carbon neutral outcomes across the project to reduce greenhouse gas emissions and promote low carbon living,” Mr Wendler said.
“These include ensuring 100 per cent renewable energy for all residential households within stage one.”
The developers have also promised to set aside an undefined number of properties as affordable rental housing for key workers.
Landcom hopes to take advantage of a growing population of tree changers who want to live near an urban centres while still achieving a rural lifestyle.
Residents will be within driving distance of the Southern Highlands, though with far more achievable prices than the booming regional centre where prices skyrocketed during the pandemic.
A lakeside hub will become the centrepiece of the community precinct, including an 11-hectare man-made lake along with education, retail, entertainment, recreation, and community-based activities.
The suburb will also feature seven sporting fields, two new school sites and cycling paths.
North Wilton will fill a gap in Sydney’s property market as the pool of affordable housing continues to shrink at an incredible rate.
It comes as Sydney has just been named Australia’s most expensive capital city, with land selling at an average $2466 per square metre according to Domain’s housing affordability report.
Source: news