Stockland plan to deliver more than 400 home sites at Gledswood Hills’ Lakeside precinct

Southwest suburbs are benefiting from a “super cycle” of housing activity that was kickstarted by the HomeBuilder grant.

Southwest suburbs are experiencing a “secondary home building boom” as Sydney benefits from a “super cycle” of housing activity.

Just this week, Stockland announced they plan to deliver more than 400 home sites at Gledswood Hills after an agreement was struck with Sekisui House.

The company will develop the Lakeside precinct at Gledswood Hills and will allow Sekisui House to grow its home building business at Stockland’s masterplanned communities in northwest Sydney – Elara and The Gables.

The Lakeside precinct at Gledswood Hills covers approximately 34 hectares and is zoned for residential use.

Stockland plans to deliver up to 448 home sites with access to the surrounding Lakeside Golf Club Camden and close to Leppington Train Station and the future Western Sydney Airport.

Stockland CEO of Communities, Andrew Whitson, said the deal was a part of their strategy to expand landholdings in highly sought-after areas that have good transport connectivity and access to schools, retail and services, and employment.

“Lakeside is a good fit with the Stockland residential portfolio and will add to the $1.8 billion Stockland has invested in NSW,” he said.

NSW Communities General Manager at Stockland Richard Rhydderch said they expect to attract solid demand from homebuyers given the under supply of residential land in this corridor.

“The prestigious and picturesque Lakeside precinct is part of Sekisui House’s active Gledswood Hills development with a recently-opened primary school and the proposed 7.5 hectare heritage-inspired Gledswood Village, which will include boutique shopping, cafe, restaurants and community facilities,” Mr Rhydderch said.

HIA Chief Economist, Tim Reardon, said the southwest is benefiting from a “super cycle” of housing activity much like the rest of Sydney.

HIA chief economist Tim Reardon. Picture: Supplied

“The original boom started in June 2020 with the announcement of Home Builder and we saw nine months of record high sales,” he said.

“We would expected the market would slow but we have seen a second boom, particularly in Sydney, where sales volumes are back to Home Builder levels of activity.

“It is now being supported by strong employment conditions, low interest rates and accelerated household formation, but a slowdown from these record levels in inevitable.”

Mr Reardon said the industry would continue to operate at capacity through 2022, but would slow down in 2023.

“The key feature that will mark the turning point in this cycle will be a rise in interest rates,” he said.

“When interest rates inevitably increase, it will reduce households’ borrowing power.

“Slower house price growth will see banks increasingly reluctant to lend for the construction of a new home and have a negative effect on consumer confidence.”