Thirteen lots of premium, park side land at Georges Fair in Moorebank sold out within) one hour on Saturday morning, confirming industry reports that Sydney’s housing market is in the midst of robust growth.
The value of houses in Sydney rose by 8 per cent in the year to September 2013, a result of low interest rates, an undersupply of new housing and strong population growth.⃰
"We haven't seen market conditions in Sydney this strong since April 2009. Home values were 2.5 per cent higher over the month and are up 5.2 per cent over the September quarter," said Mr Tim Lawless, RP Data Research Director and Analyst.
According to Nathan Huon, Project Director NSW, Investa Land, new land releases at Georges Fair always receive solid interest however the current Playfield land release is generating particularly strong demand.
“Many people have decided that with the lowest interest rates in decades and Sydney property values on the rise, current market conditions support an investment in residential property," Mr Huon said.
Investa Land is developing Georges Fair, a master planned residential community on the 103 hectare site of a former brickworks in Moorebank, in Sydney’s south-west. On completion, the community will feature 1031 lots and several large community parks, with an extensive area of regenerated native bushland between the Georges River and the estate’s eastern boundary.
Land in the new Playfield neighbourhood at Georges Fair will particularly suit families, due to its close proximity to a new 4,840m2 community park which will include age-specific play equipment and a learn to ride bicycle path.
Lots in the upcoming land release will range in size from approximately 300m² to 700m² . Land in Playfield Release 1 was priced from $344,900Purchasers of land can choose from more than 1,000 contemporary home designs, from seven of Australia’s leading building companies.
Georges Fair is located close to child care centres, schools and the University of Western Sydney. Restaurants, cafés and a golf course are within walking distance and several shopping centres are a short drive away. The M5, M7 and Liverpool station offer excellent transport links.
The Georges Fair Sales and Information Centre is located on the corner of Nuwarra Road and Maddecks Avenue, Moorebank and is open from 10am to 5pm, seven days a week.
For further information please contact (02) 9602 1701 or visit www.georgesfair.com.au
⃰ According to RP Data, Australia’s leading provider of property data and analysis
About Investa Land
*Investa Land undertakes industrial and residential development in key growth corridors across Australia. With a pipeline value of more than $3 billion, our developments encompass broad-acre and infill subdivision, incorporating more than 9,500 residential lots and over 550 hectares of industrial land.
Investa Land strives to deliver sustainable, community based projects that are progressive and of high quality, that are well serviced by transport, infrastructure and amenity.
Led by highly experienced senior management and development teams with a broad range of expertise, Investa Land is able to add significant value at each stage of the project lifecycle. With a record of forming strong relationships, particularly with joint-venture partners, Investa Land is committed to extending existing business relationships and developing new opportunities with like-minded individuals, organisations and government
.⃰Figures current as at May 2013