An affordable housing project in south-west Sydney has gone down a treat with buyers after its first stage sold off-the-plan in under three weeks.
The Terraces development in Leppington has bucked Sydney’s pricey housing trend by offering affordable and quality family homes, and it’s fair to say that it’s been a hit among house hunters.
Thrive Homes is the developer behind the medium-density housing project, which is made up of two-, three- and four-bedroom terraces. General Manager Janelle Goulding says that shorter build times and lowering building costs has enabled the team to create such a popular product.
“Within an hour of us putting these homes on the market, we had a waiting list,” she says.
“There is huge demand in Sydney for family-size homes that don’t come with a seven-figure price tag,” Ms Goulding explains.
We’ve shown that lower costs can be achieved without compromising build quality in this popular category of urban housingJanelle Goulding
The final six terraces are about to hit the market and Ms Goulding believes that more first-home buyers and investors who appreciate Leppington’s potential will be looking to get their hands on one of the properties on offer.
“Greenfield suburbs that are home to large areas of new house and land developments are a great opportunity for first-home buyers to break into the market, and investors to reduce their cost of entry when buying property in mature markets like Sydney,” she says.
Ms Goulding went on to say that as house prices across the Harbour City continue to soar, the demand for more affordable housing in proximity to busy city centres will equally be on the rise.
If Sydney’s property values continue to trend upwards into 2021, demand for house and land packages, and projects like Thrive Terraces, is likely to boomJanelle Goulding
“Leppington has been the perfect place for us to prove that more affordable housing can be achieved without compromising build quality,” Ms Goulding adds.
“And we’ve proven that affordable housing that people actually want to live in can be built, in places where people actually want to live.”