BATHURST’S satellite suburbs of Eglinton and Kelso continue to be hot property as residential developments boom.
Rezoning by Bathurst Regional Council under its Local Environmental Plan (LEP) has allowed the land on the fringes of suburbia to be opened up to housing.
Developer Lester Hewitt’s Hynash company is working on more stages of the Marsden Heights development at Kelso.
At the same time, demand is outstripping supply at Hynash’s new Icely Estate at Eglinton.
Mr Hewitt said stage two of Icely Estate will go to the land titles office in the next week or so.
“But all the blocks are all sold already and there’s 24 of them in this release,” he said.
“The 36 blocks that went on sale in stage one were snapped up very quickly. Prices range from about $155,000 to $160,000.”
Mr Hewitt said it was a similar scenario at Marsden Heights, which has now progressed to stages five and six.
“Stage six there is only about two weeks behind Icely Estate and it offers 33 blocks, but again, they have all been sold already,” he said.
“Because of the way the work putting in the electrical infrastructure was done, we had to put stage six ahead of stage five.
“Stage five has another 38 lots and we are working on that at present.”
Mr Hewitt said people from all backgrounds were buying the blocks.
“There’s some first home buyers, others looking to upgrade from their present home and a few builders looking to build spec homes.”
As for future land releases, Mr Hewitt said the landowners of the Marsden Estate, Jack and Clare Stait, have more land earmarked for further residential subdivisions adjoining this development.
“It has fantastic potential. It’s all rezoned and just waiting to be developed. It’s just a matter of when,” he said.