First home buyer opportunity at Geelong housing estate Gen Fyansford
The Geelong housing market has been one of the strongest regional markets across the country over the last few years.
House values rose 5.3 per cent in the year to January 2021, according to CoreLogic, with the median houses price rising to $625,349.
Geelong has also been the most profitable of the major regional coastal markets, with 98.6% of properties selling at a profit over the September quarter.
And first home buyers have been given the opportunity at the Gen Fyansford housing estate in Fyansford, on the fringe of Newtown on the western edge of Geelong.
Recognised by the UDIA as one of Australia's most impressive urban renewal projects, Gen Fyansford is a joint venture between the Melbourne-based developer ICD Property and Supalai Public Company, one of Thailand's largest property developers.
The pair have launched their cheapest land offerings for a number of years, which ICD expect will drive first home buyers and young couples.
The 20 lots in Stage 3.2, located directly opposite Gen Fyansford's community park, are sized between 400 sqm to 520 sqm and are priced between $360,000 to $429,000. The regular price of lots have been between $600,000 to $900,000.
11 of the 20 lots have already sold.
Gen Fyansford was established in 2014 and is currently home to 400 residents, which is set to increase to 950 by the end of 2021. There will be a total of 1,300 lots, with over 600 lots sold to date.
In mid February all 11 lots in Gen Fyansford's stage two sold within a week. Buyers paid up to $619,000.