DEMAND is expected to be high for the final community of the Vista Park project at Wongawilli, scheduled for release in early 2018.
In September 2015, the first stage of Vista Park at Wongawilli was released.
The project will eventually include more than 400 home sites.
Sydney-based developers Sheargold Property Developments’ Vista Park contains two different land offerings in three precincts; The Ridge, The Grove and The Vale.
The Ridge is comprised of 70 rural residential lots of minimum size 2000sqm; The Grove consists of 111 R2 residential lots upwards of 450sqm released over six stages.
The Vale will also be zoned R2 residential.
Shaun McCausland, marketing manager at Sheargold said The Grove was now complete, and the final stage of The Ridge was released a month ago.
The Vale will feature more than 200 home sites.
The Vale’s construction is anticipated to begin mid-2018, with the initial sales release around March 2018. This is the final precinct in Vista Park and will feature six stages of construction and sales.
Mr McCausland said The Vale’s blocks will be minimum 450sqm and minimum 15m wide frontages. He said while some home sites range over 800sqm, the average lot size throughout the whole community will be more than 500sqm.
Selling agent, McPhail Real Estate’s David Meikle said in the last release at Stage7B – The Ridge, they recently achieved a record price for a vacant block of land within the Vista Park estate; a 5183sqm block selling for $850,000.
“This final stage, The Vale, is also a more conventional residential release,” Mr Meikle said.
Mr Meikle said the take-up rate for these types of releases, “particularly the more conventional residential ones” throughout the region remained high.
“The pent-up demand for residential land is quite unbelievable, particularly in the Illawarra,” he said.
“There’s no new land releases from Figtree to Scarborough, that's all fully developed.
“There will be little pockets of an old cokeworks or a brickworks and they'll squeeze some things in.
“But for the Illawarra, it really is from Dapto and south where the great volume of new land releases (are)... Horsley/West Dapto/Wongawilli, that area, it’s not as far south.
“Many people, if they can get easy access to the expressway, drive to Waterfall and catch a train to work, if they can be close to those transport links, they’ll be happy.
“That Horsley/West Dapto/Wongawilli land is also just that ten to 15 minutes closer than going down to areas like Albion Park and Calderwood.”