Maitland's building boom and residential growth continues on an upward trend with a new subdivision for 129 homes now open at Farley.
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The Ridge estate has opened opposite the 351-lot Ravensfield Estate on Wollombi Road - Stage One of The Ridge comprising 29 lots.
The opening comes the same week a development application for a 313-lot subdivision on Christopher Road, Lochinvar has gone on public exhibition.
Lochinvar, Farley and Gillieston Heights continue to dominate residential growth in the Maitland Local Government Area.
Maitland is showing no signs of a downturn with several suburbs recently recording 10 per cent price growth - the first double digit percentage growth in a decade.
The city's newest estate, The Ridge, will accommodate an additional 120 families with lot sizes ranging from 509 square metres to 1003 square metres.
Stage One has some of the biggest lots in the development - most with a northerly aspect.
Agent Michael Croucher who is selling The Ridge on behalf of a local developer said interest is picking up.
"It's hard at the start - we've only been here marketing the site for two weeks," he said.
"It's really just a paddock with a few lots pegged out at the moment but once earthworks start it will be a different story," he said.
The Mercury recently reported how Sydney's unaffordable property market is pushing home buyers into regional centres like Maitland.
The city's property market is also showing signs of recovery after gradually dipping from last year's peak.
Data from CoreLogic shows median house price in the Maitland local government area topped out at $465,632 in December - a more than 40 per cent rise in five years.
Prices have gradually come down since then, with the median price dropping to $445,303 in July before rising back to $450,339 in August and hitting $451,484 at the end of September.
On September 30, the median price was 32.2 per cent higher than five years before.
"Maitland is the fastest growing area in NSW so there is sure to be plenty of interest in The Ridge," Mr Croucher said.
He said lot prices range from $159,000 to $249,000.
"This is an estate with a wide variety of lot sizes. It will be a family friendly development with future parklands and a community centre on site."
