650 housing lots released at Lochinvar Ridge

The registered lots have an average size of 800m2, giving house hunters the opportunity to buy large blocks with sweeping valley views.

Lochinvar Ridge project sales manager Hannah McInerney said people making inquiries about the new community have recognised there are limited prospects in the Hunter Valley to secure generous land lots over 800m2.

"More than 50 blocks have already been sold," she said. "Buyers from Sydney, the Central Coast and Newcastle are making the move to Maitland/Hunter Valley.

"Many buyers can still work from home or access the freeway for an easy commute back to the Central Coast or Newcastle with all amenities such as hospitals, schools, shopping centres and public transport," Ms McInerney said.

She said house hunters are looking to escape the "compressed and overpopulated nature of Sydney".

"The demographic profile in Lochinvar Ridge is diverse and includes young families with a couple of children, older clients looking to downsize to a single-storey home but still have space for a caravan and middle-aged families seeking a teenage retreat or extra space for visitors," she said.

"The Reserve Bank of Australia's call to keep the last two interest rates on hold has helped stimulate the Hunter Valley property market with some economists discussing the possibility of interest rate reductions in 2024."

Ms McInerney added that the issue of housing affordability in Sydney and with prices on the rise again buyers are being driven to regional areas such as the Hunter Valley and Newcastle. She said strong price growth is forecast within the next 12 months.

"The ability to secure a home and land package under $900,000 in the Hunter Valley represents great value for money compared to Sydney, where according to the latest CoreLogic Home Value Index released in August 2023, the median price for a house in Sydney now sits at $1.33 million," Ms McInerney said.