It’s settled, Sovereign Hills’ property market is on the rise
There are many different ways to climb the property ladder and at Sovereign Hills we enjoy nothing more than seeing a first home buyer plan their second home build in our community.
They’re more confident about the house building process – having learned what to expect and what to avoid, what features and spaces worked and what didn’t, and they normally have a larger budget to work with after turning a profit on their first home sale.
Being a young community, it has been difficult to properly gauge the area’s property performance – until now.
In the 12 months to September 2017, the suburb growth for Thrumster, which takes in the Sovereign Hills master planned community, was 10.2% and the median sale price reached $562,000, according to property information provider PriceFinder.
To put this into perspective, just two years ago in 2015, the suburb’s median sale price was $495,000 – that’s almost a $70,000 uplift.
There were 21 house sales in Thrumster in 2017, compared to just one in 1999.
This is a reflection of the area’s rapid population growth, and a direct result of developments such as Sovereign Hills which will over the next decade grow to accommodate more than 2,000 families, supported by a designated town centre development, sporting fields, childcare centres, onsite schooling and sprawling parklands.
Port Macquarie is a thriving regional city with a local government area population nearing 80,000. It’s forecast an extra 500 homes a year will be needed over the next two decades to support the region’s growth.
We’ve also witnessed a strong investment surge at Sovereign Hills, driven by mum and dad investors both locally and out of the capital cities.
The median rent reached $480 per week, based on 23 recorded house rentals within the 12 months to September 2017.
Featuring a 350-hectare footprint, Sovereign Hills has space to grow and we look forward to seeing more people and families, young and old, grow with us.
To learn more about our upcoming land releases, contact the Sovereign Hills Land Sales Centre on 02 6581 1711.