New housing supply: Mirvac’s new hotly contested Riverlands project

Only 23 lucky home buyers are will get the first of Mirvac’s latest new homes.

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Many hopeful homeseekers will be left disappointed as hundreds of interested parties will miss out on only 23 homes of a new hotly contested housing development.

With short housing supply and pent-up demand, 3,600 people were listed on the database for the popular new ‘Riverlands by Mirvac’ housing project in Milperra, according to Mirvac.

In its early stages, a staggering 200 people have registered in the ballot set to be drawn on Monday, with only 23 homes up for grabs.

Those 200 registered will then be given a number in the queue, in hopes of purchasing their choice of the 23 sought after land and home packages the following Saturday.

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Artist impressions of the new Riverlands by Mirvac homes.

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Once the project is completed, Riverlands is set to have a total of 311 new homes.

Riverlands by Mirvac is the third of Mirvac’s projects on the Georges River, following in the wake of Brighton Lakes which was named Australia’s best residential development by the Urban Development Institute of Australia in 2019, and Georges Cove Residences.

Warwick Bible general manager residential development NSW said the lack of new housing supply in Sydney has caused huge demand for the project.

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“The location is a strong driver for these young families, as well as a wide range of product types from three bedroom houses to five bedroom houses, there’s a range of lot sizes and a great range of products to suit differing customers,” he said.

Living room inside the homes.

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Further boosting the strong attraction was the established suburb with access to schools, shops and transport.

With varying prices depending on lot and home size, examples included a three bedroom home with a single garage and study being sold for $1.1249m, a four bedroom home with a double garage priced at $1.4099 and a five-bedder priced at $1.624m.

With both freestanding homes and duplexes, the added benefit of community facilities was growing interest with young families.

The project will include both stand alone homes and duplexes.

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“The Green is the heart of the community, it will have a pool, BBQ facility and tennis court and in addition we are building a 2.5km boardwalk along the foreshore,” Mr Bible said.

Mirvac is also planning to plant 150,000 trees and shrubs along the river walk.

With a focus on sustainable living, Mr Bible said there has been steadily increasing demand for eco-friendly homes in recent years.

‘The Green’ is set to be part of the new development, including a pool, BBQ area and tennis court.

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“Our most recent Mirvac Housing Choices Survey showed an increased appetite to invest in a sustainable home, with 64 per cent of people willing to pay for sustainable upgrades, compared to our 2017 Survey, where it did not rank highly as a factor when selecting a property,”

“We are providing all electric homes that achieve a 7 star energy rating that provides our customers with lower running costs, and all homes will have provision for electrical car charging and solar on the roofs.”

The current median house price in Milperra is $1.275m, according to PropTrack data.

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