Media release - 8^th October, 2012

Market farms and trucking businesses snapping up Sydney fringe properties

• Lifestyle acreages under $600,000 are still available in Sydney fringe suburbs such as Wilberforce, West Hoxton and Kemps Creek
• Fringe acreages enable homeowners to enjoy rural living yet still earn Sydney income
• Truckies are buying up West Hoxton acreages to facilitate off-road parking
• Lifestyle properties with excellent homes available for high $800,000s in iconic Terrigal

With land releases for housing estates a political hot potato of late, it might come as a surprise to some that it’s possible to secure smaller acreages for under $600,000 in outer-ring suburbs of Sydney such as Wilberforce, West Hoxton and Kemps Creek.

“Apart from privacy, a lifestyle acreage (10 acres or less) within Sydney’s fringes delivers owner-occupiers valuable space, as well as the unique capacity to raise a few animals and teach the children about the great outdoors,” says Angus Raine, CEO, Raine & Horne.

“Owning acreage also gives homeowners the ability to enjoy a country lifestyle while still earning a Sydney income, as well as reap the benefits of living in a global city, such as a wide selection of schooling options, excellent hospitals, transport and recreational facilities.”

Mr Raine adds that lifestyle acreages close to Sydney are still relatively affordable.

For example, Raine & Horne Windsor is selling a nine acre property at 35 Kamrock Grove, Wilberforce, which comes with an older style cottage, for around $525,000.

Peter Khan, Principal of Raine & Horne Windsor, says, “We already have a buyer interested in the property, which provides a wide road frontage, a small dam, and comes with beautiful mountain views.

“The property is perfect for agistment purposes or for anyone who needs room to move, while it is situated in one of Wilberforce’s most prestigious streets,” says Mr Khan.

“It’s a nice block and the outlook for the property’s future resale value is very good.”

That said, not all small acreages in the region will attract lifestyle buyers.

“Acreages located in land release areas such as Box Hill and Schofields will appeal to investors looking for subdivision potential rather than green changers and lifestyle buyers,” says Mr Khan.

In semi-rural West Hoxton, south west of the Sydney CBD, acreages are attracting owner-occupiers, who operate market farms or trucking businesses.

“West Hoxton acreages are located close to major roads such as the M5 and M7 and are big enough to enable truck drivers to park their massive rigs on their properties,” says Clayton Khamu, Principal, Raine & Horne West Hoxton.

For example, Raine & Horne West Hoxton has listed for auction a seven acre block at 350 Devonshire Road, Kemps Creek. The auction will be held onsite on Saturday 13 October at 12.30pm.

“The property boasts a small cottage, and it’s extremely rare to find a block of this quality so close to Sydney, yet it still enjoys a tranquil bush outlook and comes with its own dam at the rear of the property,” says Mr Khamu, who notes that many of West Hoxton’s acreages are expected to be rezoned and subdivided in the future.

“This will probably occur in eight to ten years, and as a result, many buyers have an eye on the long-term investment potential of the acreages,” he adds.

To Sydney’s north, Garth Hunter, Co-Principal of Raine & Horne Terrigal-Avoca Beach, says the affordability of local acreages in his region has attracted the attention of land banking Sydneysiders.

Mr Hunter, the selling agent for the stunning 4.4 acre property at 167 Serpentine Road, Terrigal, says, “With unspoiled views of lush countryside, this property, which is expected to fetch in the high $800,000s to early $900,000s, comes with a solid four bedroom, double storey home that wouldn’t budge in an earthquake,” says Mr Hunter.

“It’s also fair to say that acreages are attracting local buyers and Sydneysiders for a myriad of reasons.

“At the top of the list is affordability, followed by space – lifestyle buyers don’t want to be hemmed in by neighbours,” says Mr Hunter.

“It is rural living yet homeowners still have access to high quality shopping facilities offered by the tourist hub of Terrigal and nearby retail magnet, Erina Fair.

“Additionally, much of the local acreage is just minutes to some of NSW’s best beaches, such as Terrigal, Avoca, Wamberal, Macmasters and Copacabana.”

-ENDS-

For further media information contact:

Peter Khan, Principal Raine & Horne Windsor on 0415 261 276

Clayton Khamu, Co-Principal Raine & Horne West Hoxton on 0414 480 800

Garth Hunter, Co-Principal, Raine & Horne Terrigal/Avoca on 0414 339 118

Andrew Harrington, National Marketing & Communications Co-ordinator on 02 9258 5400