Suburb Spotlight Oakhurst, Sydney
2
Oakhurst Overview Oakhurst is a residential suburb located approximately 46km west of Sydney, forming part of 47+ suburbs in Blacktown City, within the Sydney Metropolitan Area. Custodian saw Oakhurst as an attractive location, with a 45 minute commute to the Sydney CBD, major road access provided by the Great Western Highway, Prospect Highway and the M2, M4 and M7 Motorways as well as rail services in close proximity. In addition to the strong market fundamentals underpinning the Sydney Market, Oakhurst ticked all the boxes:
•
Fantastic amenity
•
The abundance of local infrastructure
•
Located only 20km from Parramatta CBD
•
Accesibility to train lines and Western motorway
•
Excellent capital benchmarks in close proximity to the estate
•
Top quality public schools and Christian private schools
Recent sales within Oakhurst, comparable to Custodian stock, have transacted as high as $610,000 with an average of $580,000. Custodians who purchased within Oakhurst in 2010 did so at an average of $420,000; increasing their equity by at least $160,000 within a 4 year period.
“
Oakhurst is located in the City of Blacktown, within Greater Western Sydney; the largest by population, and the fastest growing LGA in NSW. Blacktown currently has a population of 332,424. By 2036 the City is forecast to grow to 448,797 residents.
”
Assuming 10% deposits, Custodians have more than tripled their initial cash deposits.
1
2
Buy Land for Capital Growth Custodian provided properties within Oakhurst to our valued clients in 2010. Custodian house and land packages could be purchased from $390,000 with land selling on average for $205,000 for a 406 square metre block. Recent sales data show house and land packages selling from; $540,000 for a four bedroom, two bathroom, double garage dwelling on a 470 square metre block. Land prices have significantly increased since 2008. Today if you were in the market for a 466 square metre block you could expect to pay upwards of $300,000; over $100,000 more than in 2008.
“
Land in Oakhurst has outperformed the wider Sydney land market.
Oakhurst Quick Statistics
�
2011 Census / RP Data People 6953 Males 3461 Females 3492 Median Age 30 Families 1794 Average Children Per Family 2 All Private Dwellings Average People Per Household Median Weekly Household Income Median Monthly Mortgage Repayments Average Motor Vehicles Per Dwelling Median House Price (March 2015) Median Land Price (December 2014) Median Weekly Rent (May 2015) Owner Occupied Dwellings
2040 3.5 $1,596 $2,000 1.9 $660,000 $325,000 $410 76.5%
3
Quarterly Market Activity
when
Quarterly Market Activity
Recent Comparable Land Sales in Oakhurst
stripped which vanished or s
Land prices have significantly increased since 2008. Today if you were in the market for a 466 square metre block you could expect to pay upwards of $300,000; over $100,000 more than in 2008. The below table illustrates the change in land prices in a per square metre basis; Recent Comparable Land Sales quarter) Year Sales (lots per Land Size
ve at new
2008
Releases (lotsPrice per quarter) Avg. Land
$/m2
2010
559 m2 $ 205,000 Closing Stock (lots end quarter) 2 451 m $ 220,000
$487
2013
450 m2
$588
$ 265,000
$367
2015 m2lots released$ to 315,000 $675 Greenfield growth area lot 466 sales, the market, and closing stock at the end of the quarter Over the course of 6 years land prices per square metre grew from $367 to $675; equating Source: NLSP
re.
to an overall compound annual growth rate of 8.97%.
In the recent “State of The Land Report�, The Urban Development Institute of Australia highlights how the average dollar per square metre for land in Sydney has increased dramatically as lot sizes decrease and average lot prices increases. Illustrated below:
ive long
Median Land Price and Size Median Land Price and Size Median Land Price and Size
within
in 30% of make re viable :
ent ure. m should
very by
Source: www.realestate.com.au
Source: There isNLSP no doubt that the Custodian clients who purchased in Oakhurst have timed the Quarterly Market Activity
market well. However, property is a long-term investment and clients need to be thinking about how they can best use their equity gains to further build their portfolios.
Diversification with several properties across various geographical locations and submarkets is a good strategy for shielding your portfolio from cyclical downturns and creating consistent long term returns.
s to diture. 4
Established Capital Benchmarks Some examples of established capital benchmarks adjacent to Custodian Clients in Oakhurst are tabled below:
21 Florence Street, Oakhurst Area: 532m2 Price: $610,000 Sale Date: 30 Mar 2015
6 Hyatts Road, Oakhurst Area: 470m2 Price: $580,000 Sale Date: 11 Sept 2014
34 Sperring Avenue, Oakhurst Area: 322m2 Price: $585,000 Sale Date: 9 Mar 2015
All information is current and accurate as at May 2015.
5
Comparable Sales History The properties below are comparable re-sales which have recently sold within Oakhurst. They give a good indication of what your property may be worth today.
16 Shaughnessy Street, Oakhurst Area: 453m2 Price: $875,000 Sale Date: 8 Nov 2014
17 Ahmet Court, Oakhurst Area: 601m2 Price: $680,000 Sale Date: 24 Oct 2014
21 Pepperidge Avenue, Oakhurst Area: 624m2 Price: $685,000 Sale Date: 12 Sept 2014
All information is current and accurate as at May 2015.
6
Request Your Complimentary Personal Property Portfolio Review To find out about what this means for your investment and to hear about the latest exciting new Custodian investment opportunities, please contact our team of property experts for your own personal ‘Property Portfolio Review’ on:
Phone: 1800 174 999 Email: service@custodian.com.au
7
PO Box 2256 Nerang, MDC, Queensland 4211 1800 174 999 service@custodian.com.au www.custodian.com.au