Waterford Rise Remains Amazing Value

April 17, 2018

Land at Waterford Rise continues to be much more affordable than equivalent blocks in metro Melbourne.

Oliver Hume Research (OHR) found average pricing across Cardinia/Casey rose 28% in 2017, and while prices grew strongly in Waterford Rise, lots here were still more than $200,000 cheaper than an  equivalent lot in some regions. 

In fact, a purchaser at Waterford Rise can buy a house and land package for about the same price as a block in Casey/Cardinia.

For example Lot 4179 has a Simonds package for a 206 sqm home on a  617 sqm block offering three bedrooms, two bathrooms and two cars for $404,590.

OHR found Waterford Rise is $218,000 under the average 500 sqm lot price in Pakenham, Officer and Clyde with the Cardinia/Casey 500 sqm lot averaging $400,000, while  compared to the Waterford Rise average of just $182,000.

At the same time the average land size at Waterford Rise is 580 sqm compared to Cardinia/Casey at 450 sqm. This huge price difference is being recognised by the market with land at the estate now selling within three weeks of release.

Another compelling rationale for buying in Waterford Rise is that land is less than half the price per square metre of competing Local Government Areas yet the median size is 64-156 sqm larger.

A 573 sqm block in Waterford Rise averages $191,000 compared to $325,000 for a 536 sqm lot in  Cardinia and $366,648 for a 436 sqm lot in Casey.

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