Solid start for Chapel Hill

Part of the good crowd who attended the auction for the first lots in the new Chapel Hill subdivision at Jamberoo on Sunday.

Part of the good crowd who attended the auction for the first lots in the new Chapel Hill subdivision at Jamberoo on Sunday.

HEAVY rain did not deter a good crowd gathering for the auction of lots in the new Chapel Hill subdivision at Jamberoo on Sunday.  

Six lots were sold in rapid succession, with a total sale value of $2.2million and developer, Miltonbrook’s spokesperson Jennifer Macquarie, said that they was extremely happy with the result.

"Jamberoo is a small market that traditionally turns over a couple of lots a year,'' she said. "And we knew that in delivering 31 lots to the market, we would need to sell in stages as it would be unrealistic to think we would sell them all at once.

“Six sales is a great outcome, given that we are only in the early stages of construction, as some buyers are not comfortable committing until they can see the finished product.

“The auction established the price point that we were looking for.

“We are dealing with some good post auction inquiry, and we would be happy to sell a couple more blocks now, but then we will pull back for a few months until construction of the subdivision is complete.”

Ms Macquarie said a new marketing campaign would be launched at the end of the year to sell the rest of the blocks.

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