First home buyers target Robertson, Hill Top in NSW Southern Highlands: HTW
First home buyers in the Southern Highlands are seeking out affordable housing options across the fringe suburbs, according to HTW’s March 2017 Month in Review.
The valuation firm says Robertson, Bundanoon, Colo Vale, Hill Top and Tahmoor offer better value for money than the three major towns of the area Bowral, Mittagong and Moss Vale.
“Most of these villages still have local shops, parks and schools and some have secondary rail services, but most are lacking in the larger supermarkets etc that the three main Highlands towns feature,” the report says.
“Residents of the fringe suburbs will drive to the larger towns for these services (usually a ten to 20 minute drive).”
HTW says older style houses on smaller 500 square metres blocks in Hill Top are selling from low $500,000, while new three bedroom duplexes are selling for $500,000 to $550,000.
In Robertson, a 1990s era three bedroom home on 770 square metres of land can be purchased in the low $500,000 range.
“The market in these villages has been strong over the past 12 months and that trend is expected to continue for the current period,” the report says.
“As far as advice to the first time buyer, it is always prudent to follow where planned infrastructure developments have been proposed.
“For example the recent announcement by the NSW Department of Planning that Wilton Junction has been designated as a priority growth area has brought the reality of the new township to accommodate up to 16,500 dwellings across the 4,175 hectare site located off the M5 East Freeway a step closer.
“Other areas earmarked for residential development include Tahmoor and Appin.
“Closer into the existing townships of Mittagong, Bowral and Moss Vale it is anticipated there will be limited releases of land predominantly restricted to subdivision of appropriately zoned larger lots.”
Property Observer found a four bedroom home 14 Bromhall Road Bundanoon (above) on a 2000 sqm corner block on the market for around $650,000.
The four bedroom home at 2 Blackwood Place, Robertson (below) on 1000sqm and is listed with expectations between $695,000 to $725,000.
