ESCALATING demand for residential land in the Hunter region has prompted the unveiling of a boutique land project in Raymond Terrace.
The semi-rural estate is located on Rees James Road and will comprise 18 land sites priced from $165,000, ranging from 500sqm to an expansive 1044sqm.
Mark Kentwell, of PRDnationwide Newcastle and Lake Macquarie, said Raymond Terrace had become one of the most affordable regions in recent years, attracting the interest of owner-occupiers and first home buyers.
"Many people looking in this area to buy are young families or those purchasing their first home who are after a real lifestyle change," he said.
Nestled in the countryside, these large and buildable blocks provide an opportunity for families to design their own home and have it tailored to suit their needs.
The community is ideally located near great schools and a large shopping centre, the Grahamstown Dam, the RAAF Base and Newcastle's airport within 15 minutes you can reach several amenities the region has to offer.
Mr Kentwell said recent data revealed that suburbs such as Raymond Terrace had delivered impressive median price growth and rental yields over the past 12 months.
"Our analysts discovered in recent research that despite being outside the CBD, Raymond Terrace is a strong performing market," he said.
For houses, median price growth over the past year in Raymond Terrace was 5.2 percent with an average rental yield of 5.6 percent.
Mark Kentwell said the company had brought forward the release of the Rees James Road site.
"It represents a unique opportunity to be a part of a small community in one of the Port Stephen's most liveable areas," he said.
Raymond Terrace is fast becoming an attractive place to live and the rising local market and low entry prices are prompting families to lay roots here.
The community is three kilometres from Raymond Terrace town centre, within 10 minutes' drive to local schools and sporting venues and has easy access to the M1, making it convenient for commuters travelling to and from nearby Newcastle.
The project is located at 20-22 Rees James Road.
For more information, visit www.newcastlenewprojects.com.