A planned 129-dwelling estate in Collina will help ease some of the pressure on the city's real estate market, according to one real estate agent.
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A 129-home estate for the city's over 55s - dubbed 'Griffith Hill Estate' - was given the green light by Griffith City Council during the most recent council meeting and has been welcomed by sections of the local community, with Griffith Aged Support Services coordinator Monica Beckman supporting the development as it will help ease the transition between home living and aged care facilities.
Property specialist at Griffith Real Estate Luke Papandrea has also welcomed the development and said the development will fill an important need in the city's real estate market.
"For over 55s and people wanting to downsize, there's really few options available," Mr Papandrea said.
"We speak to plenty of people wanting to downsize in that over 55 category and they would sell their home or rent their home out tomorrow if they could - but they just don't have that option.
"They might have a beautiful family home for another family that would get the use out of it, but because they can't move on, that property isn't becoming available - it's like a domino effect here in town."
With Griffith in the midst of a housing crisis, Mr Papandrea said the estate could theoretically release up to 129 homes onto the market over time, which may allow for an easing of the pressures many buyers and renters are facing when looking to move into or around the city.
"There might be a small percentage of people moving from out of town for this estate, but ultimately you'd think the majority of it is going to be taken up by local occupants," Mr Papandrea said.
"Regardless of what their status is - whether it be home owner or renter - if they do get into this estate it should free up another property, whether that's to go onto the rental market or the sale market which could relieve pressure.
"Long term - yes, it would be some relief. Will it be enough relief? That's the million dollar question."
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Mr Papandrea said the development could also see some additional benefits for the Collina area, as more people utilising the area and infrastructure may allow for a further development of services in the area down the line.
"If you have a look at the Collina area - there's really not much in that location and that's probably the location that's grown the vastest over the last ten years," Mr Papandrea said.
"I see it opening up doors for maybe more infrastructure out that way that may be needed, whether it's restaurants or whatnot - I think you're starting to build its own little hub out there.
"Even the Driver shopping complex that's there - I'm sure that will see some great benefits of an extra 120-odd dwellings on top of all the other subdivisions that are currently going on out there."
