Landcom will release over 500 new housing lots aimed at the first home buyers’ market over the next two years to boost housing affordability across Western Sydney.
“As the NSW Government’s land and property development agency, we recognise the importance of creating opportunities for first home buyers given the competitive housing market in Sydney,” said Acting CEO Barry Mann.
The NSW Government is abolishing stamp duty on all homes up to $650,000 and providing stamp duty relief for homes up to $800,000.
“More than 500 lots have been identified for release over the next two years that meet these price points,” said Mr Mann.
The 21 lots to be released at Oran Park Town under the Landcom retail brand are exclusively available to first home buyers for the August 19-20 sale weekend only, and are expected to sell from $333,500 to $426,500 (for land only).
Any lots not sold to first home buyers over the sales weekend will be released to the general market.
Oran Park Town is being delivered through a partnership between Landcom and Greenfields Development Company and is one of the largest masterplanned communities in NSW.
“Since the first sod was turned in 2008, Oran Park Town has become home to more than 7,500 residents and we are proud to be a part of this development with Landcom,” said Greenfields Project Director Mark Perich.
Landcom in partnership with the Department of Family and Community Services (FACS) is also planning to release more lots within the first home buyer price range at Newbrook at Airds later this year, with releases continuing in 2018 and 2019.
This is in addition to all 41 lots that sold to first home owners at Hillcroft at Claymore on July 22 for $360,000 for land only.
For more information on the NSW Government’s policy A fair go for first home buyers, please visit: https://www.nsw.gov.au/improving-nsw/projects-and-initiatives/first-home-buyers/
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