Whitestone Point at Austins Ferry. Picture: SUPPLIED
WHEN northern suburbs residential development Whitestone Point first hit the market, the reception was extraordinary.
Stage one sold out before these riverside blocks of land officially hit the market. Since then, the project – which has hundreds of blocks – has gone from strength to strength.
Knight Frank sales consultant Rorie M. Auld said Whitestone Point’s developers had made a concerted effort to ensure this Austins Ferry project was a “destination development”.
This includes a wide range of attractive lifestyle features such as parklands, dog-walking areas, lookouts and recreation trails to be built around the site, he said.
“There are three commercial lots available, too, which could attract a child care, small supermarket or medico,” Rorie said.
“It is interesting to note that about 60 per cent of the selling stages were sold prior to the recent government builder stimulus, and 37 per cent has been sold since June 4.”
Whitestone Point land sales running hot.
Rorie said market reception to the development was it was long overdue. Many wished there were more like it.
“It is the most significant land release in the area for over a decade and a half, and has been very well received across the whole demographic spectrum,” he said.
“The market is crying out for land, even prior to the HomeBuilder stimulus, but it is a slow burn for the developers who spend years and an extraordinary amount of money working on these types of projects before they see any return on investment. In this instance, it has been 14 years to get to this point.
“The purchaser demographic has been across the board, from first-home owners to upsizers, downsizers, sidemovers and investors.”
Of the first eight stages of land releases, there are only two lots left that will be titled this year and will be eligible for the HomeBuilder grant.
New stages just released.
New stages have been released in July, stages 9-12. The lots range in size from 509 to 2061sq m and Rorie said 24 had already been allocated, leaving 42.
“Among those properties there are some waterfront opportunities but naturally they are proving popular and many have been allocated to buyers,” he said.
Construction has started in stage 1, however titles have not been released yet for stage 2 onwards.
Glenorchy Mayor Kristie Johnston has said the proposed light-rail service to areas such as Austins Ferry would provide significant benefits.
“Importantly, it would connect northern parts of Hobart with the CBD and really drive tourism,” she told the Mercury.
For more information, contact Knight Frank or visit whitestonepoint.com.au
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