A new townhouse development in Dapto is predominantly priced to take advantage of stamp duty exemptions for first home buyers.
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‘Moombara Mews’, consisting of soon-to-be constructed tri-level townhouses will be located at 27-29 Baan Baan Street.
It will be comprised of nine three-bedroom, two-bathroom townhouses; all with lock-up garages and one with double lock-up garage.
Eight of them are priced at $649,000, with the townhouse featuring the double lock-up garage “slightly higher”, according to selling agent Neil Webster, senior executive residential at Colliers International.
The developer is Illawarra-based Royal Homes Australia.
Mr Webster said the townhouses were deliberately priced to take advantage of stamp duty exemptions for first home buyers.
First home buyers of existing and new properties costing up to $650,000 are exempt from paying stamp duty, and receive stamp duty discounts for properties worth up to $800,000.
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Mr Webster said the development was positioned in a strong growth area of Dapto, within walking distance of the CBD.
“It’s a real step up from anything that’s been done in Dapto before, in terms of the design, quality and finishes,” Mr Webster said.
Mr Webster said this development was part of a transition the Dapto area was undergoing.
“The traditional perspective of Dapto is lower socio-economic… I think it’s slowly starting to see a bit of growth.
“With the emergence of all the homes in Horsley and West Dapto, you’re seeing a different culture of people moving in.
“Invariably they’re the people wanting the things they had in their own areas, like the small cafes and bars.”
Therefore, Mr Webster said “these things are catching on in Dapto”.
“It’s changing. You’ve got these cool cafes and funky little places starting to pop up around there. The centre of Dapto is emerging as well.
“There’s another couple of developments going up around around the corner there too.
“I think you’re starting to see that transition from the traditional older home-style Dapto to the newer CBD-style living, which is where I think this project fits in.”
He expected the development would be popular among first home buyers and young families seeking something low maintenance.
The construction is tentatively scheduled to begin in September/October, with completion due before the end of 2019.