Strong demand for Yamba's waterfront land
WHEN Chris Young and Lorraine Allen weighed up the choice of renovating their Yamba home, or buying on one of the last canal-front blocks in the state, they decided to start from scratch.
The family was one of many who have grabbed lots as part of the Yamba Quays development, with 25 lots already under offer in the new development
The couple, who already lived in an established part of the quays estate with two children said the opportunity to grab a vacant block was good for them.
"We live on a canal block on an internal corner and had planned to renovate our current house, but when the opportunity to grab a vacant block came up, the costs of renovating no longer stacked up so we decided to start again,” said Chris.
"Our new block is 800sqm right on the point with 11 metres of river frontage and 35 metres along the canal so we've got plenty of water around us.
"It's a good spot for families. I told my mate about the new blocks in Yamba Quays. He bought one too so it'll be great having his family as neighbours.”
Originally from the Murray River and the New South Wales south coast, Chris and Lorraine discovered Yamba while travelling Australia in a caravan and they "haven't left yet.”
"We didn't even know about Yamba when we got here, but after a couple of days we decided to come back and live here permanently,” said Chris.
"It's a good location with a good climate, a good sized population and a good school so it's everything we want.”
Clarence Property director Peter Fahey said he expected strong sales to continue, as locals and investors had been circling the dormant canal estate for many years.
"Yamba Quays is significant in that it is the last remaining canal development in New South Wales after the State Government banned the construction of residential canal estates in 1996,” he said.
"The scarcity of these lots, which represent the final chance to buy untouched canal-front land, has piqued the interest of owner occupiers and investors alike, many of whom have been waiting for this opportunity for years.”
Mr Fahey said the release of new homesites at Yamba Quays was perfectly timed with the $4 billion Woolgoolga to Ballina motorway upgrade which will bring improved access and an influx of employment opportunities to the region.
Clarence Property purchased the Yamba Quays site from a local family who has partially developed the estate, completing civil works and selling the first 106 lots, most of which now have established homes
Stage one had 42 lots released to market ranging between $300,000 to $795,000, with the remaining 92 lots in the development to be released in stages.
Blocks in the waterfront estate range from 650sqm to 1069sqm, with prices for the remaining waterfront lots ranging from $490,000 to $750,000.