Real estate trends on the upper north shore
A DEVELOPER is hoping to bait homebuyers in search of a treechange with an ambitious project in central NSW that could be worth around $1 billion upon completion.
Located close to Mudgee, Caerleon Estate will offer more than 1600 Torrens title homes on semirural land, which will eventually have its own town centre, shopping village, medical centre and other facilities.
Mudgee is one of NSW’s fastest growing regional centres. Picture: Amber Hooper
”Mudgee has that desirable country feel yet it is only one hour’s drive from the Blue Mountains,” he said.
The estate is part of Mid-Western Regional Council’s plans to accommodate its growing population: a report by Manidis Roberts forecast more than 5000 homes will be needed in the area by 2021.
Roadworks and infrastructure are in place for the first stage of Caerleon Estate in Mudgee, which will comprise 56 blocks of land.
The expansion of nearby coal mines and Mudgee’s growing wine, arts and tourism industries have fuelled the recent growth.
An increasing number of tree changers are also moving to the area as a lifestyle choice.
The first stage of Caerleon Estate comprises 56 blocks of land ranging from 700sq m to more than 1 million sq m.
The land is selling from $140,000, while house-and-land packages start from $450,000.
More than half of the first stage has sold, with some houses scheduled to start construction in July.
The land in question is located at Mudgee
Mudgee is one of NSW’s fastest growing regional towns and boasts more than 50 vineyards and wineries.
Local realtor Andrew Palmer from The Property Shop said Mudgee real estate has a bright future. “Mudgee is about to enter a period of sustained growth and its price points still offer a good opportunity for astute investors,” Mr Palmer said.
“Recent approvals for expansion of our existing mines, and proposed development of new mines in the region, are boosting the confidence of home buyers and investors.”
Source: Aidan Devine, News Corp Australia Network, The Daily Telegraph, 13 April 2016
