Housing values have already fallen near a proposed Housing Plus 14-villa development in Lantana Place, north Orange, a real estate agent has claimed.
About 30 residents met on the site of the development on Monday night to hear Housing Plus officials outline plans for a mix of social and affordable housing on blocks on either side of the end of the street.
Our City Real Estate principal Lan Snowden, who attended the meeting, said a potential buyer had withdrawn an offer to buy a house in Lantana Place after learning of the proposed development.
He said the asking price for the property had now been reduced by $24,000.
"The property was [on the market] at $559,000. We had an offer and an acceptance [for an undisclosed price]," he said.
"The offer was withdrawn once they found about the Housing Plus development.
"We have a new price of $535,000 and the interest is dwindling.
"It's an absolute direct effect. In my opinion and with my experience in that area it's definitely going to have an effect on housing prices in the close proximity."
Falling housing prices, loss of amenity, concerns about who would live in the 14 villas, crime and limited access via Lantana Place were among the concerns raised by residents.
"If this place gets a reputation we'll go down with it," one resident said.
LOCATION: The development site
Orange City councillor Glenn Taylor attended the meeting and urged residents to get professional help as they would need to fight the plan on "planning issues".
He said the development application had not yet come before council.
Housing Plus project director Justin Cantelo said he expected it would be lodged in a few weeks and if approved work could start mid-2020.
Mr Cantelo said it was the second of three similar developments planned for Orange following a proposal for 26-28 units on Forbes Road and ahead of another at an undisclosed site.
He said they understood residents' concerns and had approached developers about buying land in new estates before other housing was built but "nothing eventuated".
Mr Cantelo said 10 of the 14 units would be for social housing. He gave an indicative list of potential residents saying most would be single women aged 41-74 and many would also have a teenage relative living with them.
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