The release of 15 acreage allotments in the Adelaide Hills is set to spark a buyer frenzy amid
insatiable demand for larger housing blocks.
While many cash-strapped buyers have been forced to compromise on space just to get a foothold in the market, Parkland Littlehampton selling agent Patrick Booth said strong demand for lifestyle blocks still outweighed the land supply available.
Just days after the 15 acreage allotments at Littlehampton’s Parkland housing development were listed on realestate.com.au, four had been sold and another two were under contract, Mr Booth said.
He expected the remaining blocks, which range from 8000sqm to 9300sqm and are priced from $1.2m to $1.35m, would all be sold before Christmas.
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Parkland Estate at Littlehampton has 15 acreage allotments.
“We are seeing unprecedented demand for these acreages,’’ Mr Booth said.
“There’s such a depth to that market that, I think, we’re hardly touching the sides with 15 blocks.
“As soon as you advertise (acreage blocks) to the Adelaide market you will find that it’s a market that’s unquenchable – we just don’t have enough.
“They (acreage buyers) are generally coming from money so that (ability to afford a larger land parcel) really isn’t going to be an issue.’’
Retirees, including those downsizing from large farms, were among those to have already purchased a block, Mr Booth said.
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Just days after they were listed for sale, four had been sold and another two were under contract.
At the other end, younger families wanting a large backyard for their children to play in and those seeking to “move from a $2m house in Stirling’’ to a larger estate were also in the mix, he said.
Some of the buyers had searched for an acreage property close to a township for up to four years before these blocks became available, he said.
“Interest is really just being driven by the fact we have got no competition – there’s nothing else out there (of this size),’’ Mr Booth said.
“I can’t even remember the last time something like this came to market within a township – this is unique and it’s very rare.
“It’s literally a five-minute walk from the main street (of Littlehampton) where there’s the doctor, the pharmacy, the cafes and the restaurants.’’
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There’s strong demand for land across the city but acreage is particularly appealing.
Mr Booth said the development retained several majestic gum and oak trees to provide a “rural feel’’ and the acreage blocks overlooked The Glebe, an 8ha landscaped reserve with a lake and nature-inspired playground.
“It’s not like your typical greenfield (housing development) where you have the back fence and side fences and not much aspect – here you will have a garden aspect all around you,’’ he said.
– by Lauren Ahwan
English (US) · 