Projects news with Jason Salter | Regional growth centres

September 10, 2020 |
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This week, there were 150 new and modified DA’s throughout New South Wales. Regional and Greater Sydney were well represented. Normally this time of year, we expect 75 to 100 DA’s so the results are above average.

We had a clearance rate last weekend in Sydney of 66% for auctions, while Regional Sydney experienced up to 75%. The median house price of the average auction sold was 1.32 million dollars.

The population is becoming more open to operating regionally, and this infrastructure will make regional centres and the Greater Sydney areas more desirable to live in, from a family and from a middle-aged or retirement perspective.

If you would like to know more, stay up to date at lsre.com.au/projects or contact Jason Salter on 0418 846 637.

Transcript:

Hi, Jason Salter here from Laing+Simmons Projects, a place that you can find all manner of stuff, especially property. Hit us up on the website: lsre.com.au/projects

A quick-fire video, I know that the guys that watch this all the time, that’s what they want to hear. This week, 150 new and modified DA’s throughout New South Wales. An amazing number, we’re above average.

Normally, this time of year, 75 to 100. We’re at 150. And again, Country and Regional and Greater Sydney are well represented. All manner of developments that are currently being considered by council and being modified. We’ve got guys that have got an R3 approved that want to change it to boarding house, to medium density, seniors living. There’s a whole bunch of that. And in Country New South Wales, it’s an amazing situation that’s happening right now, and we won’t call it “Country”. We’ll call it “Regional”.

So in Regional New South Wales, I’ll give you a quick example. We have a clearance rate last weekend in Sydney of 66% for auctions, but if you include regional, it’s up to 75. And the median house price of the average auction sold was 1.32 million dollars.

So number one, we’ve got strength in the upper range of price and we’ve got severe strength in Regional and Greater Sydney and that’s encouraging because it means that the population now are starting to accept the fact that yes, we can probably work regionally, we can probably work in regional centres, and with the amount of infrastructure that New South Wales especially are going to invest in bushfire and flood-affected areas, that infrastructure is going to make those regional centres and the Greater Sydney areas even more desirable to live in, from a family and from a middle-aged or retirement perspective.

That 150 DA’s by the way are largely represented by the 5 up to about 20 lot DA’s. So they’re the townhouse and apartment markets.

So that’s all for this week. I hope you have a really good week, and I look forward to catching up with you for my weekly update next week. Bye for now.

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