Understanding Construction in Land Development
When most people hear the word “construction,” they picture bulldozers, cranes, and the framework of new homes rising from the ground. However, it’s crucial to understand that in land development, construction involves much more than just building houses. Before the first brick is laid, there’s a significant amount of work that happens beneath the surface—literally.
For those unfamiliar with the process, construction in land development includes the installation of essential infrastructure like sewer systems, roads, and stormwater management. These steps are crucial to prepare the land for future homes. It’s a process that takes time, and for many investors and homebuyers, the waiting can be challenging.
Austral Development Site: What’s Happening on 10th Avenue?
Located on 10th Avenue in Austral, this development site has been eagerly anticipated by several families and students who’ve invested in the area. The site, similar to a previous project on 9th Avenue, spans three acres and will eventually feature 30 lots. But before anyone can move in, the land needs to be prepared.
Recently, construction work at the site has begun in earnest. The original house on the property has been removed, and the site is being levelled. Roads are being carved out, and essential services like sewer lines are being installed. One of the key features of the site is the On-Site Detention (OSD) system, designed to manage stormwater since there’s no main stormwater system to connect to.
Why the Wait? The Value of Patience in Property Investment
One of the most common frustrations among property investors is the wait for land registration. In this particular development, it’s expected that land registration will take about 12 months, with construction expected to start shortly thereafter. So, while it might seem like a long time to wait, there’s a silver lining—time is your friend when it comes to property investment.
Here’s why: property values tend to increase over time. By the time the land is registered, many investors may find that the value of their property has gone up. This “uplift” in value can be particularly beneficial for those who’ve been in a contract for over 12 months. Often, they can use the increased equity as part of their deposit when it’s time to settle.
Austral: A Suburb on the Rise
Austral is a suburb that’s seen a lot of development in recent years. This makes it an attractive spot for both investors and families looking for a new home. The area has benefited from the opening of new amenities like Leppington Village, a shopping centre that features a Woolworths and various other shops.
But what really sets Austral apart is its concentration of private schools. The suburb and its neighbouring areas, like North Leppington, are home to an impressive number of private schools, including St Anthony of Padua Catholic College, Unity Grammar College, and the Al-Faisal College. This abundance of private educational institutions is a strong draw for families and is likely to contribute to the long-term growth in the suburb’s property values.
Looking Ahead
The Austral development on 10th Avenue is well on its way, with significant progress being made on-site. While the journey to registration and construction might seem slow, rest assured. Investors and families who’ve bought into the development have time on their side. With continued growth expected and the added value of nearby amenities and schools, Austral is on the rise.
Stay tuned for more updates as the development progresses.
