Construction News
Life's good down on the farm
November 2010
Buyers with vision are reaping rewards from a development north of the city, reports Ben Hyde.
When Andrews Farm was established in the late 1980s about 35km north of Adelaide, it was out on a limb. Buyers with the vision to look 20 years into the future, however, now are being handsomely rewarded by their investment, as infrastructure in the area improves rapidly and property prices rise.
Real Estate Institute of South Australia president Greg Nybo, whose Century21 Property People office is based near the suburb, says Andrews Farm has come a long way.
"From those early pioneering days out there, they have really turned it into an attractive and desirable location to live in, with all those traditional family values that people are after," he says. "Anybody who got out there in the early days and took advantage of the growing infrastructure has done really well."
Valuer-General figures show the median house price in Andrews Farm has jumped about 265 percent in the past 10 years and was at $285,244 in this year's September quarter.
Mr Nybo says the jump in the median house price in the suburb corresponds with the rapidly-improving infrastructure in the area.
"Any body who takes a drive there now would be amazed with the infrastructure," Mr Nybo says. "There is a community shopping centre, it's not too far from the Munno Para shopping centre, only a quick drive to E1izabeth and it's now right in the middle of the P1ayford Alive project.
''There is the new Northern Expressway and the commitment to the electrification of the Gawler train line. St Columba College services the area and I think there is now quiet a waiting list to get into the school."
Improving job opportunities in the northern suburbs also are helping to drive the suburb's growth. "The northern area is really becoming a bit of an economic powerhouse for employment with the defense industry and General Motors Holden increasing shifts," Mr Nybo says.
"People are attracted to the affordable housing and employment opportunities, and it's becoming quite destination for families and people looking for a start in the housing market"
More than 20 years after the first sod was turned at Andrews Farm, the area is nearing full development Devine Homes and Communities' Lakeside development is about 75 percent sold, with three more stages to be released.
The master-planned community with reserves, a landscaped swale and walking paths will be home to 1070 single detached and medium-density dwellings. Land also has been identified for a school and amenities, including shops, to be built in the future.
Devine marketing manager Nicole McDonough says the demand for Lakeside has been strong. "Lakeside provides a quality. modern, value for money living option within Andrews Farm," Ms McDonough says.
"Andrews Farm provides convenient living for residents, with shopping, upcoming new schools, child care, a range of public transport, easy access to the CBD via the northern Expressway and value for money in regards to new home options. First and second-home buyers have shown great interest in the master-planned community, seeking a convenient lifestyle in a picturesque and connected community.
"Demand from investors also has been high."
Source – The Advertiser Adelaide 27 November 2010
