This article is from the Australian Property Journal archive
THE $1.3 billion, 2,000-lot Hills of Carmel residential development at Box Hill in Sydney’s north-west has notched up 275 lots since launching in May 2016, putting it six months ahead of schedule.
Council consent has been received a further 300 lots, which are likely to be released in stages in 2017.
The development sprawls across 223 hectares in the newly rezoned suburb, which the Department of Planning expects to eventually comprise 9,600 dwellings housing more than 28,000 people.
Bob Welsh, the project’s property development consultant, said housing construction will commence in February 2017 for the master-planned community, with the first residents set to move into their new homes by winter.
Display home organization Homeworld has also announced plans for a new 110-lot display village in The Hills of Carmel from the middle of next year.
“As Sydney homebuyers continue to face a shortage of affordable housing, and in particular, in detached dwellings, The Hills of Carmel offers a prime opportunity to buy into an area that not only offers a wonderful quality of life but will provide strong value growth over the medium to long term,” Welsh said.
He added that in line with the need for smaller lots, as described by the Department of Planning, the development is providing small detached dwelling lots and larger lots ranging from 300sqm to 870sqm.
A further 25 lots in the current stage have just been released, with prices starting from $427,000 for 300sqm, 16 of which sold on the first weekend.
Australian Property Journal