You’ll have to be quick to buy a house and land package in the growing suburb of Truganina.
Smart buyers and investors are leaving the inner-suburbs for more affordable land in Melbourne’s West. Property for sale in Melbourne’s rapidly growing Truganina, is being met with an unprecedented demand from buyers fed up with Melbourne’s skyrocketing house prices.
At Olivia, the estate’s first three releases sold out in just hours. With the first land release in September 2017, all 67 quality land lots sold out entirely on the first day released to the market!
This overwhelming demand spurred the developer, Marantali, to subsequently fast-track the next release of 41 land lots, exclusively for purchasers who initially missed out on the first release, which again sold out on the opening weekend.
The third release, containing 26 land lots, further demonstrated this pent-up demand when hitting the market before Christmas 2017, resulting in a complete sell out in just hours.
“We have been completely overwhelmed with the demand for Olivia since launching. Purchasers who missed out on properties for sale in the first three releases are now on a waiting list for our next stage to be offered to the Truganina market in the coming weeks,” said the Olivia sales manager.
History shows Melbourne’s outer growth suburbs perform strongly in capital growth as new infrastructure and facilities become established – a sign that early purchasers in Olivia will benefit significantly in the coming years.
For example, in Rockbank, the suburb’s median house price has risen from $192,000 in 2015 to $497,000 in 2019, following the creation of new housing developments and infrastructure.
Similarly, in Caroline Springs, the median house price has more than doubled since 2010. This community has now become renowned for its abundant wetlands, schools, sporting ovals and parks, with purchasers paying a premium to call the suburb home.
Nearby Williams Landing is another example, which Domain cites is outpacing much of Melbourne’s established and leafy eastern suburbs in terms of price growth. The suburb has median house price of $661,000 as of February 2020.
Those who have bought into Olivia are primed to experience a similar uplift in prices, with the now approved Precinct Structure Plan (PSP) that governs the area signaling the development of significant parks and open space, a major town centre, two local town centres, a new train station, sporting reserves and roads, all just minutes away from Olivia.
The PSP will also spur the creation of major job opportunities to reduce CBD commuting, such as a new employment precinct along Hopkins Road for office, light industrial and commercial businesses.
This is all in addition to the beautiful amenities that Olivia itself will offer, including four and a half hectares of active open space and a further two hectares of family-friendly parklands.
“Property for sale at Olivia, Truganina, currently starts from around $230,000, enabling buyers to build their dream home for under $450,000. That’s basically half the price of Melbourne’s current median house price, which continues to rise.”
With so many exciting plans for the area, a new train station and Westfield proposed, and new schools being developed, a demand in property for sale in Truganina has boomed. It’s no wonder home buyers have eagerly chosen to secure their slice of Olivia.
Don’t miss out – register your interest for the next stage of land releases at Olivia today.
Register your interest for new and exclusive land releases at Olivia in Truganina today.
Olivia is offering property for sale in Truganina which is exceptional value for money. Truganina is an ideal place to raise your family in a vibrant community, upsize to your dream home, or invest for the future.
Call the Olivia Sales Manager on 0422 871 939 or email [email protected] to discuss the land lots available, or register your interest to find out about exclusive new releases.