Entry level Sydney project homes proving popular: HTW

Entry level project homes in new Sydney estates on the metropolitan fringes have been earmarked for investment due to the heavy competition for established homes in the latest August market review from Herron Todd White.

A new four bedroom brick rendered home in suburbs such as Oran Park, Leppington, Edmondson Park, Caddens Ridge, Jordan Springs and Mardsen Park between 140 square metres to 200 square metres.

HTW noted at the lower end of $1,400 per square metre, the potential owner will receive a modest standard with a laminated kitchen, part wall tiling to wet areas, generic appliances and split level AC.

"A higher standard is at $1,700 per sqaure metre and at this level we would expect to see a Polyurethane kitchen with casearstone benchtops, bamboo flooring, higher quality wool blend carpet, ducted air conditioning, full wall tiling to bathroom, and known appliances such as Westinghouse or Bosch," HTW noted.

Knock down rebuilds, driven partly by the interest generated through reality television programs range from between $2,500 and $4,000 per sqm are proving popular as well.

Potential sites located in Five Dock, Russell Lea, Drummoyne, Strathfield, Monterey, Sans Souci, Blakehurst, Sylvania, Cronulla and Burraneer with the floor areas for areas ranging from 300 to 500 per square metres are popular.

A large increase in dual occupancy developments within 20km of the Sydney CBD has resulted in many off the plan sales prior to completion. The report states a cavity brick duplex pair can range from $1,800 to $2,500 per square metre and brick veneer duplex pairs will range from $1,600 to $2,000 per square metre. 

Granny flats also got a mention.

"We have found that the typical 60 square metre granny flat will range from $2,000 to $2,500 per square metre comprising 2-bedrooms, 1-bathroom, ceasarstone kitchen bench and lounge/dining area. Specialist firms now cater for this market and quote a typical construction time frame of 12 weeks."