This article is from the Australian Property Journal archive
PROPERTY development and construction company Traders In Purple has received approval for 50 villas and terraces in Moss Vale, as the property and construction group looks to take advantage of a shift in housing demand in the Southern Highlands.
The 2.1-hectare site on Argyle Street is zoned for medium-density residential housing and is within walking distance of the town centre, train station, Moss Vale Public School and Moss Vale Services Club.
Moss Vale’s median house price has leapt from $650,000 to $1 million in just four years, as was seen in a number of regional towns as many Australians sought a treechange (or seachange) during the pandemic, with remote working enabling the shift for many.
Rents have also risen dramatically, from an average of $480 a week to $650 over the same period.
Traders In Purple will deliver a mix of three and four-bedroom single and double-storey terraces and villas with courtyards, along with a central village green.
Detailed design will now begin ahead of an anticipated late-2024 sales launch.
Traders In Purple development director Thomas Zdun said the collection of freestanding and attached dwellings has been designed to meet demand from a growing number of locals wishing to downsize from large, high-maintenance homes as well as buyers priced out of the market.
“Moss Vale’s population is forecast to increase by more than 4,500 by 2041, fuelled in part by Sydneysiders seeking a relaxed place to retire or take advantage of hybrid work arrangements,” he said.
“Moss Vale is about 90 minutes’ drive from Sydney and two hours by train which makes it an attractive destination for those who might only need to be in the office two or three days a week.
“But the more pressing demand comes from locals who want to downsize from homes that are no longer appropriate as mobility and health declines with age.
“The diverse housing choice that will be offered in this new development will allow many long-standing residents to continue living in the locality, amongst their friends and support networks, in a contemporary home that is accessible and also less costly to maintain.”
Each of the 50 homes will be fitted with solar photovoltaic panels to keep energy bills in check and achieve the 7 Star NatHERs energy rating that has been mandatory in new homes since October last year.
