AVID Property Group plans residential development on 150 ha site in Lower Hunter

AVID Property Group has acquired the remaining 750 residential lots at Waterford County, as part of an established masterplanned community in Chisholm, New South Wales.

The move is part of AVID's strategy to strengthen its foothold in the Lower Hunter Valley region with and triple the company’s value over the next five years. 

“We are no stranger to the region, with our development, Harvest, located just next door and benefitting from much of the same infrastructure investment we have made in the region,” said AVID Property Group CEO Cameron Holt. 

“The Lower Hunter is increasingly becoming an affordable alternative to the Sydney housing market with many buyers moving out of Sydney in favour of regional New South Wales. 

Harvest and Waterford County are expected to meet the demand for the surging population of nearby Newcastle, which is undergoing a $500 million revitalisation. 

“This will create more job opportunities over the next decade, improved transport services and increase the need for housing in the region,” he said. 

There was a 40 per cent rise in sales at Harvest in the second half of 2016, showing a firm demand for property in the area. 

“The opportunity to expand our market share sets AVID up strongly within the high-performing region, forecast to be home to more than 26,000 additional residents by 2036,” he said. 

The site has parklands, green space and wetlands, and 7 km of walking and cycle paths linked throughout the development. 

“We are looking forward to pushing through the completion of this large project,” he said. 

“This AVID project will complement the ongoing development of Harvest, which is 75 per cent complete and has already welcomed over 700 residents.”