Wow. To say that the industry is ramping up again is an understatement (not that its really been floundering in the last 4 years). The last 4 months has seen a huge amount of momentum from the First Home Buyer and Investor market. Steady sales in the northwest sector including Riverstone, Box Hill and Schofields has been keeping Helen busy at The Ponds BUT the South West sector……………..OMG. Pat and Julie have been killing it. As fast as Graham and I can supply them with packages, they are selling them to the point where we are struggling to keep up with land stock. Austral, Edmondson Park and Leppington are clearly the hot spots with huge amounts of development going on. Not surprising given the infrastructure for these areas is already in place and, of course, future plans for the Airport at Badgerys Creek.
Having said all this it doesn’t surprise me how well things are going across the board due to a presentation I went to a few weeks ago. I was invited to an Realestate.com.au seminar that was primarily designed to give builders and developers a snap shot of the target audiences that are currently in the market. To say we all walked out a little shocked was an understatement. Just to share a few statistics with you.
*Active purchasers of new homes and House & Land Packages in NSW each month………..850,000.00. This does not include purchasers of established properties.
*300,000.00 of these are First Home Buyers
*230,000.00 are Investors
*42% of buyers are willing to build more than 20km from their current place of residence.
The one statistic that did surprise me the most was that 13% of all buyers would prefer NOT to walk through a traditional Display Centre, preferring to use video walk-throughs and virtual reality head sets……….. Sign of the times I suppose.
So those still looking to enter the market or add to their portfolio, there still some bargains to be had in the south west and western Sydney but don’t wait too long as those prices are creeping up on a weekly basis. Jordan Springs is really a place to consider as the prices there are still reasonable mainly due to us securing the land pricing back in late 2015/early 2016. Give Jane a call on 02 8847 0290 for more info.