‘Blue spaces’ drive land demand in Chisholm
February 9, 2024
A residential developer has turned a development challenge into a popular masterplan feature, prioritising natural enclaves and watercourses as research into the mental health benefits of life near waterways becomes increasingly prevalent.
Located in Chisholm, Waterford by AVID Property Group (AVID) has dedicated much of its community to these communal ‘blue spaces’ with over a quarter of homes (27.4 per cent) facing or fronting either never-to-be-touched blue spaces such as waterways, or green open spaces such as parks, and bushland.
Early studies into blue spaces have indicated that those living near water report better mental health and lower risk of obesity1. Researchers have also suggested it is important to consider blue spaces in urban planning moving forward as research increases2.
AVID NSW Project Director Danny Boubli said interest in blocks of this nature have always been high.
“Our sales show that buyers are eager to purchase ‘water frontage’ blocks despite the typically higher price. I believe the increase in working from home arrangements and post-COVID lifestyle changes has led buyers to care a great deal more about the positioning of their home,” Mr Boubli said.
Three-time Waterford home buyer Jack O’Connor recently purchased a new block on Billabong Parade, following the lead of his parents who built their first Waterford home six years ago, and his sister who is also currently living on Billabong Parade.
“The homes that my family and I have lived in over the years have all been either close to, or facing, these natural enclaves. Having those relaxing landscapes surrounding you is wonderful.
“I work in an industrial environment at a nearby power station so having that natural escape to come home to, stroll through, and to relax in on the weekends is really beneficial,” Mr O’Connor said.
Mr Boubli said a mix of blue and green spaces is rare for residential developments in the area.
“The positioning of the different Waterford neighbourhoods around these blue and green spaces in the Waterford masterplan meant it was not only visually appealing, but also necessary for the sustainable functioning of both the surrounding ecosystem and the development,” Mr Boubli said.
The Territoria Place release is Waterford’s only land release now selling which faces a water body, with limited blocks remaining, priced from $646,000.
“It’s an exciting time for the area as buyer interest in land is starting to have a resurgence and these new blocks have seen the highest enquiry in 12 months,” Mr Boubli said.