Castle Hill Market Report Winter 2017
Ray White Castle Hill is the proud sponsor of
Welcome There is certainly a lot of “noise� in our marketplace currently with talk of the bubble supposedly bursting. The truth is the rhetoric is not always accurate and it is important we consider what this means to our local residents. There is no question that some factors which are being highlighted are worthy of consideration. The market has been so strong for so long and it would not be a surprise to see a period of stability. I do believe however in the main, that if you were to read the news the market is about to crash. I cannot agree with the sentiment as the evidence does not point to this. One of the downsides to the negative press is that there can be somewhat of a placebo effect and it would be fair to say, we have had many buyers talking down the market. Our role is always to assist the vendors in getting the best possible price and so, while we may need to reallocate resources to focus more attention on a slightly smaller pool of buyers than what we saw at the peak of the market, this is something we will maintain as a priority.
year 2016/17, 61 sold for prices at or above the vendor’s expectations. A figure no other agent in our market place could come close to claiming. I share this not to brag but to assure you that if your property is in the right hands, the waters can be navigated effectively even if they become a little more challenging. We continue our support of the local community through our major sponsorship of the Castle Hill Bowling Club as well as local based charity Give & Take. We are always on the lookout to partner with groups in our community so, if you do know of any please feel free to contact us directly.
Philip Kelly and David Dowling Directors | Ray White Castle Hill
Auctions give a great indication of how a market is travelling. It is fair to say that some local agents have struggled of late with slipping success rates and on occasions cancelling auctions placing vendors interests in great danger. I am delighted to report that of the 63 on-site auctions submitted in the financial
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Based Based on 329 on 329 recorded recorded House House sales sales within within Based on a rolling 12 month period and may differ the the lastlast 12 months 12 months (Financial (Financial Year Year 2017) 2017) BasedBased on a rolling 12 month period and may differ within from calendar year statistics on 329 recorded House sales from calendar year statistics the last 12 months (Financial Year 2017)
Current Current Median Median Price: Price: $1,510,000 $1,510,000 Based Based on recorded on recorded House House sales sales within within the the 12 12 Based(Financial on (Financial a rolling 12 month period and may differ Based on 757 recorded House sales compared over the last two Previous Previous Median Median Price: Price: $1,360,000 $1,360,000 months months Year Year 2017) 2017) Current Median Price: $1,510,000 Based on a rolling 12 month period and may differ Based on 757 recorded House sales over the last two rolling 12compared month periods from calendar year statistics Based on recorded House sales within the 12 rolling 12 month periods from calendar(Financial year statistics Previous Median Price: $1,360,000 months Year 2017)
Recently sold properties
Based Based on aon rolling a rolling 12 month 12 month period period and and maymay differdiffer fromfrom calendar calendar yearyear statistics statistics Based on a rolling 12 month period and may differ 80 CHEPSTOW DR year statistics from calendar
Based Based on 757 on recorded 757 recorded House House salessales compared compared over over the last thetwo last two rolling rolling 12 month 12 month periods periods Based on 757 recorded House sales compared over the last two 66 OLD CASTLE RD rollingHILL 12 month periods
Based Based on aon rolling a rolling 12 month 12 month period period and and maymay differdiffer fromfrom calendar calendar yearyear statistics statistics Based on a rolling 12 month period and may differ 60 GILBERT RD from calendar year statistics
80 CHEPSTOW DR 125 PARSONAGE RD
66 OLD CASTLE HILL RD 21 STEWART DR
60 GILBERT RD 9 DRAWBRIDGE PL
80 80 CHEPSTOW CHEPSTOW DRDR
66 66 OLD OLD CASTLE CASTLE HILL HILL RDRD
60 60 GILBERT GILBERT RDRD
80 CHEPSTOW DR
66 OLD CASTLE HILL RD
$1,425,000
60 GILBERT RD
$1,625,000
$1,640,000
80 CHEPSTOW DRRD 125 PARSONAGE 125 PARSONAGE RD 4 bed | 2 bath 220 RIDGECROP DR | 2 garages 834 m²
66 OLD CASTLE HILL 21 STEWART DR RD 21 DR 4 STEWART bed | 2 bathDR | 2 garages 897 m² 92 GOORAWAY
60 GILBERT RD 9 DRAWBRIDGE PL 9 DRAWBRIDGE PL 7 bed | 4CASTLE bath | 2 garages 152 OLD HILL RD
125125 PARSONAGE PARSONAGE RDRD
21 21 STEWART STEWART DRDR
9 DRAWBRIDGE 9 DRAWBRIDGE PL PL
125 PARSONAGE RD
Jun
2017 101 Days
1,128 m²
5
$1,705,000
$1,410,000 3
125 PARSONAGE RD 4220 bedRIDGECROP | 2 bath | 2 garages 703 m² DR 220 RIDGECROP DR
3
21 STEWART DR
Jun
2017 N/A
1,125 m²
5
$1,350,000 4
21 STEWART DR 4 bed 3 bath | 2 garages 92| GOORAWAY DR 423 m² 92 GOORAWAY DR
Source: pricefinder.com.au | Properties included may or may not be sold by Ray White
220220 RIDGECROP RIDGECROP DRDR
$2,400,000
$1,705,000 GOORAWAY GOORAWAY DRDR $1,705,000 92 92
2
9 DRAWBRIDGE PL
$3,500,000 152 OLD CASTLE HILL RD 6 bed | 152 3 bath | 3CASTLE garages HILL RD OLD 152 OLD CASTLE HILL RD
$2,400,000 OLD OLD CASTLE CASTLE HILL HILL RDRD $2,400,000 152152
Suburb Growth
HOUSE +11%
7/11 HARRINGTON 7/11 HARRINGTON AVE AVE 7/11 HARRINGTON AVE
# Sold Properties
Suburb Growth
UNIT 32921/23-3521/23-35 CRANE RD CRANE RD +9.6% 21/23-35 CRANE RD
7/11 7/11 HARRINGTON HARRINGTON 7/11 HARRINGTON AVE AVE AVE
21/23-35 21/23-35 21/23-35 CRANE CRANE RD CRANE RD RD
$1,035,000
# Sold Properties
131
43/16-2043/16-20 MERCERMERCER ST ST 43/16-20 MERCER ST 43/16-20 43/16-20 43/16-20 MERCER MERCER MERCER ST ST ST
$892,000
$860,000
7/11 HARRINGTON AVE 31B GINDURRA 31B GINDURRA AVE AVE 4 bed | 2 bath | 2 garages 9,712 m² 31B GINDURRA AVE
21/23-35 CRANE RD 8/35-37 PARSONAGE 8/35-37 PARSONAGE RD RD 2 bed PARSONAGE | 2 bath | 2 garages 8/35-37 RD 241 m²
43/16-20 MERCER ST 43/1-11 ROSA 43/1-11CRES ROSA CRES 2 43/1-11 bed | 2 bath | 2CRES garages 2.52 ha ROSA
31B 31B GINDURRA GINDURRA 31B GINDURRA AVE AVE AVE
8/35-37 8/35-37 PARSONAGE 8/35-37 PARSONAGE PARSONAGE RDRD RD
43/1-11 43/1-11 ROSA 43/1-11 ROSA CRES ROSA CRESCRES
$1,070,000
$1,122,000
31B GINDURRA AVE 8/35-37 PARSONAGE RD 3 bed | 2 bath | 2 garages 324 m² 3 bed | 2 bath | 2 garages 4,925 m² 23/12-1823/12-18 SHERWIN SHERWIN AVE AVE 2/193-195 2/193-195 OLD NORTHERN OLD NORTHERN RD RD Source: pricefinder.com.au not be sold by Ray White 23/12-18 SHERWIN AVE | Properties included may or may 2/193-195 OLD NORTHERN RD 23/12-18 23/12-18 23/12-18 SHERWIN SHERWIN SHERWIN AVE AVE AVE
$435,000 43/1-11 ROSA CRES 2 bed | 2 bath | 2 garages 5,003 m² 7/52 PARSONAGE 7/52 PARSONAGE RD RD 7/52 PARSONAGE RD
$800,000 $800,000 $972,000 $972,000 2/193-195 2/193-195 OLD OLD NORTHERN NORTHERN OLD NORTHERN RDRD RD 7/52 PARSONAGE PARSONAGE 7/52 PARSONAGE RDRD RD $800,000 2/193-195 $972,000 7/52
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$1,180,000 $1,180,000 $1,180,000
Top 10 house sales Address
Sold date
Land size (m2)
Price
1
14
BANKS RD
08/04/2017
2000m2
$4,800,000
2
23
CHILTERN CRES
12/04/2017
934.6m2
$2,970,000
3
22
BRAE PL
20/05/2017
739.3m2
$2,600,000
4
51
BALINTORE DR
01/05/2017
763.6m2
$2,575,000
5
20
DARCEY RD
02/06/2017
702.2m2
$2,475,008
6
92
GOORAWAY DR
24/06/2017
1125.1m2
$2,400,000
7
6
YINNELL PL
22/05/2017
702.4m2
$2,400,000
8
27
LYGON PL
26/05/2017
737m2
$2,398,888
9
3
HERITAGE CRT
18/04/2017
1425m2
$2,383,333
10
25
WILLS AVE
22/05/2017
1514.4m2
$2,320,000
Properties included may/may not be sold by Ray White
Top 10 unit sales Address
Sold date
Price
1
7/16
MERCER ST
02/05/2017
$1,600,000
2
7/52
PARSONAGE RD
03/05/2017
$1,180,000
3
8/35
PARSONAGE RD
13/05/2017
$1,122,000
4
902/12
PENNANT ST
17/06/2017
$1,080,000
5
1/51
PARSONAGE RD
09/06/2017
$1,055,000
6
54/2
PURSER AVE
21/06/2017
$1,040,000
7
7/11
HARRINGTON AVE
20/05/2017
$1,035,000
8
46/73
CRANE RD
20/04/2017
$1,015,000
9
4/57
CECIL AVE
22/04/2017
$980,000
10
6/38
FRANCIS ST
14/04/2017
$978,000
Properties included may/may not be sold by Ray White
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Early work on the $900 million upgrade of Castle Towers is progressing and construction schedules are being finalised.
The Joint Regional Planning Panel approved the much awaited redevelopment plans for Castle Towers in September last year. At the time, QIC Global Real Estate managing director Steven Leigh, said: “The new Castle Towers will be as much about lifestyle, recreation, entertainment, experiential events and dining as it will be an outstanding retail destination.” The transformation of the neighbourhood surrounding the future Castle Hill Station has already begun, with a number of major developments already begun or in advanced stages of planning approval. The redevelopment will increase the size Castle Towers by up to 80,000sqm and increase parking capacity to more than 8000 vehicles. Castle Towers already acts as the gravitational centre of the Castle Hill CBD, providing a significant retail, entertainment and employment hub for the region. Its redevelopment will only enhance that role, with an updated cinema complex, dining and retail areas, as well as creating an estimated 2373 jobs. The plaza to be built around the new metro station will be designed with pedestrian flow to and from Castle Towers in mind. Castle Towers is also expected to be designed to allow through pedestrian access at all times. Using licence-plate recognition to track parking without the need for a paper ticket means vehicles will not be required to stop on entry to wait for a ticket to be issued, ensuring entry and exit from the carpark will be quick and easy. When activated, parking will be free for the first three hours. Cinema patrons will also be able to access an additional hour of free parking after validation. Parking fees will start at $5 with timed rates up to maximum daily rate of $40. Entry will be free after 6pm. Source: The Daily Telegraph - March 7, 2017 http://www.dailytelegraph.com.au/newslocal/hills-shire-times/week-2what-castle-hill-could-look-like-in-2037/news-story/be72a892e9056e4197b4b36bd920fcbc
Median house prices $1,500,000
60 55 50
$1,450,000
45 40
$1,400,000
35 30
$1,350,000
20
$1,300,000
15 10
$1,250,000
5 0 JUN
MAY
APR
MAR
FEB
JAN 2017
DEC
NOV
OCT
SEP
AUG
JUL
$1,200,000
NUMBER OF SALES
MEDIAN SALE PRICE
25
SALE MONTH
Number of sales
Median sale price
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Understanding the market
Rent Vs Own OWN
PURCHASED
RENT GOV.
RENT PRIV.
36.2% 0.4%
44.4%
16.4%
Population UNDER 15
19.4%
15 - 65
65+
65.8%
14.8%
Your team
Philip Kelly 0407 000 991
Daniel Llamas 0421 908 736
Peter Iann 0488 002 222
Aroha Gilbert 0412 067 934
Andy Lin 0433 433 093
Hilda Bandiera 9680 2255
Paul Conti 0414 981 005
Robbie Awad 0428 888 648
Kael Sharp 0435 821 736
Hannah Dowling 9680 2255
Brett Macartney 0431 073 780
Kieron Stedman 0433 124 734
Odette Roach 9680 2255
Joel Simpson 0450 907 598
Brittney Willmette 9680 2255
Jose Reyna 0414 914 127
Matthew Langdon 0431 037 478
Margarete Kwarcinski 9680 2255
Joseph Meyer 0417 675 741
Karl Anthony 0457 120 174
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Ray White Castle Hill 02 9680 2255 287C Old Northern Rd, Castle Hill NSW 2154
raywhitecastlehill.com.au