Brendon Foye
18 May 2023, 2:00 AM
While greenfield developments in the Kiama area - Golden Valley Road, South Kiama, Spring Creek and South Gerringong - are still a long way off, a subdivision in Berry is testing the market.
Woodhill Estate Agents and New Horizon Properties have unveiled plans to bring 118 new plots of land to the real estate market as part of a new subdivision dubbed Berry Lane. The plot, located on the western side of town over the bypass, will be built opposite the main township along Hitchcocks Lane and Huntingdale Park Road.
The first plots will go on sale later this month starting at $780,000 ranging from 490 sqm to 704 sqm in size, though the remaining plots go up to 1000 sqm.
The announcement could present a rare opportunity for interested parties that have struggled to find properties to purchase on the South Coast, particularly in Kiama.
There were 1625 parties interested in buying property in Kiama, but only 29 houses on the market in Kiama in the past month (to 19 May 2023), according to realestate.com.au with a median price of $1.45 million, down from $1.58 million the previous year.
Berry’s existing property market is much the same, with 57 houses available for 1453 buyers in the past month, with median prices reaching $2.1 million, an increase of $175,000 on the prior year.
It remains to be seen how the addition of 118 new properties will impact these figures, but New Horizon Properties says the proposed development has already had 1300 people register their interest so far.
“Infrastructure investment is strong, connectivity to Sydney and Wollongong is a huge plus and we continue to forecast families making the tree change from Sydney,” said New Horizon General Manager Steve Barlow. “For these reasons it is one of our target investment corridors.”
As part of the development, New Horizon Properties plans to plant more than 200 new native and non-native trees. The developer hopes the site will connect to the proposed Huntingdale Park Reserve, which would be located within the Berry Lane site.
While New Horizon Properties has owned the Berry Lane site since January 2023, the proposed master plan and surrounding landscaping are still subject to council approval.
Sounds like it's time for a country drive.