Wodonga's latest residential property boom will be tested again when five housing blocks with golf course frontage go under the hammer next week.
The subdivision, which has been in the pipeline for more than a decade, has come to fruition and agents PJ Murphy Real Estate will auction the five blocks facing the ninth fairway on Friday.
Former golf course owners, the SS&A Club kicked off plans to build houses on the land between Parkers Road and the ninth fairway with more than 200 people to potentially live in 41 houses and 17 townhouses.
Agent Leon Kowski expects the five blocks to be highly sought after at a time when the city was experiencing its first real estate boom since the early 2000s.
The combination of COVID-19 and historic low interest rates have led to houses selling in parts of Wodonga for more than $1 million at regular intervals.
"To have land available in a location as distinctive as the Wodonga golf course is already a rare thing," Mr Kowski said.
"But in the current climate where land is snapped up so quickly, it really is an exceptional opportunity.
"It's really exciting to see the land all leveled and ready for houses to be built.
"There could easily be a couple of hundred new residents living here and all being members of the course."
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The premium lots with golf course frontage could fetch between $240,000 to $260,000 under the hammer with seven blocks already sold in the estate and another 15 on hold with potential buyers.
Estate buyers have the option to choose their own builder and construct a completely custom home.
"Homes in the streets near the golf course are tightly held and, in our experience, are competitively pursued when they come up for sale," agent Mark Boehm said.
"Being able to build your custom home next to the golf course, means you're not only getting the home you want, but it is in a popular location that will continue to retain and grow its value over future years."
Major stumbling blocks in developing the estate have been overcome.
They included the creation of a waterway across the ninth fairway to remove the flood risk from Felltimber Creek.
The green light for the sub-division required Wodonga Council and North-East Catchment Management Authority approval.
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