Lots in Dubbo’s Keswick Estate are selling like hot cakes, as part of a growing demand for residential land in the city, according to Dubbo Regional Council. The Stage 4 Release 3B has been extremely popular since its December launch, with more than half of the development receiving interest from potential buyers.
“All the southern lots apart from one are under contract or have a holding deposit,” Council’s property development officer Alex Noad said.
“It’s very impressive.”
Mr Noad explained that the sales are part of the city’s steady growth.
“It’s been a planned release of Keswick Estate for some time. There’s been demand for lots... and we have been moving forward doing releases at a steady pace.”
The area currently for sale lies south of the Mitchell Highway with interest being in 15 of the 29 lots on offer. Priced between $140,000 and $180,000, most of those already sold or under contract are in Hindmarsh Esplanade.
Mr Noad said a combination of factors has contributed to the surge in sales; with price, availability, location and government rebates all part of the appeal.
He described it as ‘a reasonable option for everybody’.
“There’s quality lots at a reasonable price. It’s affordable and they are quality lots. First homebuyers have the option of grants that they could receive and a waiver on stamp duty. The three things combine to make it attractive.”
With sales moving so quickly, Mr Noad said Council is already preparing for the next stage of development.
“We have approval for Stage 5 to the east and behind the Royal Freemasons’ with 207 lots to be sold,” he confirmed.
To provide additional access to the estate, at least two roads in the area will be extended in the near future.
“Capstan Drive will travel directly south and Keswick Parkway will extend east. That will be a connection in that area.”
The Keswick Estate tagline is ‘Land, Location, Lifestyle’ with the website describing the area as a place which ‘gives you space to live and breathe... nestled among the natural beauty of bush and wetlands.
“We are actively marketing but not aggressively,” Mr Noad said, adding that they expect the interest in residential land to continue.