Paradise yours for a cool $675,000
PROSPECTIVE home buyers looking for their slice of paradise can snap up one of eight remaining vacant blocks in the seaside town of Seventeen Seventy – if they have a spare $675,000.
That’s the starting price for parcels of land in the new Tree Houses development, which range in size from 647sq m to 1276sq m, after being subdivided following the site’s original earmarking for a hotel complex about 20 years ago.
And according to residents, the blocks could be a steal.
PRDnationwide Agnes Water sales manager Tim Lawry said the eight blocks of land were expected to fetch between $675,000 and $850,000, and were the last chance to build in that part of the coastal town.
“The rest of the headland is all national park – there won’t be any further subdivision or development in those areas,” he said.
Mr Lawry said there were only 120 blocks of land available in the town, with most already developed with homes.
Agnes Water resident Janette Young said buyers could not go wrong purchasing land in Seventeen Seventy.
“I have huge belief in the area, not only because of the lifestyle, but for positive capital value growth,” she said.
“Agnes Water and Seventeen Seventy both had good capital growth before the global financial crisis.”
Mrs Young said buying the last few blocks was a good investment for those in for the medium to long term.
“Especially being the last land release, I see it as a good investment,” she said.
“It’s a very good price – it’s got the position and that area can only go forward.”
She said property was “vanishing” in both towns.
Mr Lawry believed the blocks would go quickly, after a pre-release survey 12 months ago generated a great deal of interest in the estate.
“It won’t take long to sell them – hopefully in a month or two,” he said.
Marketing agent James White said there were few vacant lots available because, once bought, owners were reluctant to part with their prime location.
“There is incredible demand for housing in this part of the world,” he said.