First home buyers drive South West home sales

by Sekisui House on 20 03 2020 in The Hermitage

Sekisui House is witnessing a resurgence in sales from first home buyers seeking high-quality housing solutions within the company’s masterplanned community, The Hermitage at Gledswood Hills.

According to the latest figures from the Australian Bureau of Statistics (Lending Indicators Report: released February 2020) first home buyer purchasing levels are back to their highest since 2012. Stamp duty exemptions and concessions for first home buyers for properties up to $650,000 and $850,000 respectively, were also up more than 25 per cent.

Craig Barnes, Sales and Marketing Manager at Sekisui House, comments, “We have experienced a considerable uplift in sales at The Hermitage over the past six months when compared to the beginning of 2019. This has in part been driven by an upsurge in savvy first homebuyers seeking to acquire high-end property within exclusive masterplanned communities.  We’re beginning to witness a distinct shift in the needs and wants of first homebuyers, which is not necessarily being driven by price.

“Typically, our core market at The Hermitage is 2nd homebuyers (upgraders and downsizers) due to the exclusive nature of the masterplan. First homebuyers have doubled over the past quarter when compared to the same period last year, underpinning the strength of the market within growth corridor suburbs such as Gledswood Hills. In addition, The Hermitage has witnessed a 64 per cent uplift in sales activity over the last four months when compared to the four months prior.”

First home buyers Ishan Joshi (30) a compliance auditor and his wife Pragati Sharma (30) working as a business analyst, were looking for a new neighbourhood. Ishan said, “We looked at several masterplanned communities in the south west and then drove into The Hermitage. It was unlike anything else in the area - the green vibe and beautiful surroundings were captivating.

“Kilometres of walking tracks, parks, the golf course and the new Gledswood Hills Primary School also impacted our buying decision, as well as proximity to the future Western Sydney International Airport. I’m a frequent domestic traveller. We were initially looking for land and then decided on a four-bedroom executive SHAWOOD home. My parents visit annually and I know they will enjoy the stunning green outdoor environment too.”

Steve Diggins, Director at Professionals Narellan & District, comments, “Property buyer confidence is back at record high levels in the south west. Factors that have contributed include a general lack of established product, low interest rates, affordability of current housing stock, easing of lending and low media attention.

“Buyers and sellers now have the confidence to move, obtain a good sale price and pay a fair purchase price. First home buyers are leading the charge followed by investors, up sizers and downsizers. Sydney first home buyers have been quick to take up the federal government’s First Home Loan Deposit Scheme which was launched in January, enabling them to purchase with a five per cent deposit.”

“The most attractive locations for purchasers are Gledswood Hills, Gregory Hills, Oran Park and Spring Farm. House hunters are generally seeking newer freestanding three or four bed homes,” Mr Diggins said.

Sekisui House has just launched the company’s latest boutique SHAWOOD homes release at The Hermitage, known as Aspect. Aspect comprises 23 completed executive SHAWOOD homes in a premium pocket located within close proximity to the proposed amenity of Gledswood Village, the newly opened Gledswood Hills Primary School and the future Greg Norman golf course.

Defining features of these complete designer residences include striking natural architecture, intuitive floor plans, exquisite internal and external colour palettes, landscaped yard spaces, and SHAWOOD’s pre-engineered structural framing system and advanced exteriors.

This precinct comprises 13 plan configurations traversing a selection of single and double storey homes, ranging in price from $779,000 - $895,000.

SHAWOOD display homes are available for viewing by appointment only.

For further information visit www.thehermitagesydney.com.au or call 1800 113943.