With limited property supply in the Whitebridge area, the recent listing of 89 dwellings in a prime location has been met with strong interest from locals, according to Ray White Newcastle Lake Macquarie, Barry Price.
Construction of the 89 dwellings and three shops was approved by council in December and will begin in June, with a focus on open space and community.
Dwellings will consist of apartments, townhouses and maisonettes with three and four-bedroom torrens title homes, according to Price.
“They range from 60 square metre one bedroom apartments through to 180 square metre three bedroom townhouses with a backyard,” he said.
“Whitebridge is a very popular area that doesn’t have a lot of supply so I’m getting around 30 enquiries a day on this.”
“People love the location; backing onto the Fernleigh Track, a few minutes’ drive to the beach and Charlestown Square as well as walking distance to the local shops.”
“So far interest is mostly from locals; from first home buyers right through to downsizers.
There’s a strong demand from young families,” Price said, adding that he has received very positive feedback regarding the development’s open spaces.
“Part of the development will be turned into a park and children’s play area and then handed over to council while there’s a large buffer between the Fernleigh Track and the dwellings to ensure plenty of green open space,” he said.
A piazza-style area known as Whitebridge Square is also being developed.
Most of the townhouses will have front and rear yards and every single dwelling will have secure basement parking or individual garages, according to Price.
“All of the homes will have garages, in fact most of them will be double garages, while all the apartments and maisonettes will have under-building car spaces.”
Speaking of the build and finish quality, Price said they are looking at the higher end with stone benchtops, stainless steel appliances, carpets and tiles.
With construction expected to commence in about three months, the first development stage is predicted to be completed around March next year.
The region’s housing market has experienced strong capital gains of 9.7 per cent in 2015, and Price said it continues to remain strong.
“Buyers could well make excellent capital gains during the construction period, while not paying the bank any interest.” he said.
Selling prices for Whitebridge stage one and two range from $620,000 to $745,000.
Contact Barry Price from Ray White Newcastle Lake Macquarie for more information.
0402 140 240 | barry.price@raywhite.com
