A push for population growth in established suburbs has led to Ralton Property Group making $128 million in low to medium residential site sales in the past three months.
The Sydney-based group specialise in selling development sites including amalgamating sites as well as working with councils and project marketing.
They recently sold 1,246sq m site across two homes in Willougby, a huge 1,350sq m and two apartment blocks on behalf of twelve owners in Kingsford.
Ralton have also sold 2,216sq m in Annandale and 1,586sq m Lane Cove in recent times.
Adding to the sales boost was an amendment NSW government’s policy which came into effect 1 July.
The changes allow well-designed dual occupancies, manor houses and terraces to be carried out under a fast-tracked complying development approval.
Ralton managing director Harj Uppal said they have done a lot of research on properties which are suitable in Low Rise Housing Diversity Code.
“People are amazed that they can undertake either a small property development project or create an income producing asset on their land without having to get a DA from council,” Uppal said.
“Buyers are always looking for a great property and these small scale developments are perfect for people that want to live in a lower density neighbourhood amongst houses and other similar properties rather than in a high rise apartment building.”
“The City of Canterbury-Bankstown Council is aiming to distribute 80 per cent of future growth in centres, particularly those with good transport connectivity, high amenity, ready access to services and facilities, and 20 per cent in the suburban neighbourhoods.
Developers, businesses, and landowners looking to take advantage of this growth will capitalise on council’s plan to locate future housing within 5 to 10 minutes’ walk of centres along the East Hills railway line.
“This targeted growth and high-demand projections on paper looks like an enviable opportunity for Ralton to bring development sites to our developer database especially within the Padstow, Revesby and Panania localities,” Uppal said.
“We have already secured several commercial investment sales on behalf of owners looking to reap in the rewards from the rezoning uplift during the Covid-19 pandemic.
Arguably this point of time providing great opportunities for them to then secure their next property investment bargain with the recession recently announced and job keeper set to end in Jan 2021.”
The team of six real estate specialists at Ralton undergo regular training and talks with the Property Council of Australia, local councils, planners and market stakeholders.
“We have a network of architects, town planners to look at and utilise the performance capability and correct of a site,” Uppal said.
Uppal said recently their expert team were looking into properties which could take advantage of the code.
“Being small scale they allow property investors to become property developers to create their own assets,” Uppal said.
“Small scale property developers are also interested as they too can create these developments quickly and efficiently, without the need for large capital outlays.”
Ralton are quickly becoming one of Sydney's fastest-growing property groups with mounting residential, land and commercial sales.
They also have a number of notable deals in New South Wales, Queensland and Victoria with buyers based locally and abroad.
Dwelling approvals for both units and houses have bounced following the introduction of Home Builder and many municipalities are pushing for increased dwellings.
The team at Ralton run with the changes to push the boundaries of traditional strategies to bolster sales, property management, project marketing and transactions on potential development sites.
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