Coonamble NSW – Pop 4200 – Median House Price $135,000 – Median Income $37,400 – Median Rent $200pw

This is our first project we bought a block of land in Coonamble which has very limited one and two bedroom stocks and a lot of run down housing at that $200 pw range.

Objective

To develop 131 Castlereigh St Coonamble into 14 individual 2 bedroom dwellings for the purpose of providing affordable accomodation to families in Coonamble. Like most towns in the Central West and Orana LGA, low income households comprise the largest proportion of all households within Coonamble and the proportion continues to increase. There are a not many 1-2 bedroom dwellings currently available on the market, and certainly not enough to meet current demand in the area. The proposed style of dwelling would also offer low maintenance housing for the community. The success of this project could also pave the way for further development of this type into other regions facing similar issues.

Goals

We wish to provide options to people with lower incomes. Closing the gap on supply and demand for appropriate housing for the community. Housing people based on merit and sound track record in the affordable housing market

Solution

To offer multiple finance options for people to choose, depending on their needs.
Buy our completed homes for circa $90k and lease the land for $100 per week
Rent to own our homes $283 (7%) per week repayments over 8 years + $100 per week lease of land Rent the homes from us for $290 per week
Furniture rental packages TBC
Appliance rent to buy packages TBC