As a backlash to Sydney’s $1 million median house price, NSW house builder and land developer Rawson Group has created a new low-cost offering.
Thrive Homes are Rawson Group’s new sub $650,000 house and land packages, 15 of which were sold in the first two weeks of launch.
Rawson Group studied the standalone housing marketing to pinpoint how it could achieve a sub $200,000 home, a product it now offers in Thrive Homes.
Prices start at $185,000 plus land and site costs; this low cost was achieved by streamlining the build process and removing the DA process to make each of Thrive Home’s offers CDC compliant.
“The market has responded well to the offer in its first two weeks, with the majority of purchasers to date being first home buyers,” said Rawson Group CEO Matthew Ramaley.
“Thrive Homes aims to help people, particularly first home buyers, get on the property ladder in Australia’s most expensive real estate market and do it without compromising on design,” said Mr Ramaley.
“The affordability issue is one for developers and home builders to fix in the near term because reductions in statutory costs will require broader tax and planning reform. Working with our suppliers, we are doing our bit to open the market to more Australians by delivering affordable, well-designed homes. We are challenging the industry to improve building and design standards at the affordable end of the market so everyone can enjoy their dream home,” he said.
The group is currently focusing on western Sydney in areas such as Marsden Park and Leppington.