Teralba has come a long way since its days as a small NSW mining town.
Located on the north-west corner of picturesque Lake Macquarie, the area is fast becoming a destination of choice for people in search of a waterside lifestyle that offers close proximity to larger metropolitan centres.
For those yearning for closer links with the great outdoors, the town also has much to offer, with activities such as boating, fishing, bushwalking and cycling all easily accessible.
“Teralba is definitely a place that offers a more relaxed lifestyle,” says local sales executive Michael Velkovski, of LJ Hooker Valentine.
“You’ve got beautiful Lake Macquarie and then you’re only a short trip around to Warners Bay and its cafes. It’s in a great position in that regard.”
Velkovski says the area has traditionally offered a wide selection of properties and has subsequently attracted a broad selection of buyers.
“Teralba has got such a diverse cross-section of properties,” he says. “Over the years, I’ve sold to younger families, with big blocks of land and affordable homes making it attractive to that first-home buyer group.
“There’s a local primary school in Teralba itself, and it’s just a good central spot to travel back towards your main hubs of Toronto or Warners Bay. You’re right smack-bang in the middle, pretty much.”
Real estate consultant Nathan Wood, of Ray White Toronto Wangi Wangi, says the increase in the town’s popularity can be traced to the completion of a major road infrastructure upgrade around a decade ago. With access from areas such as Newcastle vastly improved, so too were the town’s prospects as a centre for housing investment.
“Investors will buy in Teralba because you get good-sized blocks and houses that are in relatively good condition,” Wood says.
“There are some parts that are elevated and that offer really good lake views, so you can get those people from Newcastle or Toronto – people who want a view who don’t want to be far from town. There are lots of varied types of buyers. Some people definitely like to buy there because it is close to the water.”
One of the factors behind the suburb’s burgeoning popularity is the new master-planned community Billy’s Lookout. Situated on 70 hectares of residential land, the community boasts close proximity to the Newcastle CBD and an easy connection to Sydney. When complete it is set to consist of 493 new houses and be home to more than 1000 residents.
“We provide a range of block sizes at Billy’s Lookout to appeal to a wide range of buyer preferences, including the buyer’s budget,” says Shane Boslem, senior project director at McCloy Group, the award-winning developers behind Billy’s Lookout.
“Typically, though, the majority of our buyers are second-home owners, but we do also sell to first-home buyers, downsizers and investors. There is proven return on investment for our purchasers, with resales in the community already reaching $920,000.”
Boslem says proximity to existing services, transport options, schools, shops and the Lake Macquarie shore make Teralba an ideal location for a new residential community.
“At Billy’s Lookout, the highest quality of residential amenity has been achieved through the establishment of natural landscaped areas and streetscapes, a children’s playground, and walking trails through the Billy Goat Hill proposed public reserve,” he says.
“There’s also a variety of public art on display that ties back to the lakeside theming of the community, an addition you don’t often find in other new developments.”
He says the community has proved popular so far, with over half of the land already sold. Current land releases start at $215,000, with larger north-east facing blocks of up to 1300 square metres also on offer.
Writer: Owen Thomson, Domain.com.au
Read Article here