Castle Hill Market Report Spring 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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Previous Previous Median Median Price: Price: $1,360,000 $1,360,000
months months (Financial (Financial YearYear 2017)2017)
er
Based Based on 798on recorded 798 recorded House House sales compared sales compared over the over lastthe twolast two rolling 12 rolling month 12 month periodsperiods
BasedBased on a rolling on a rolling 12 month 12 month periodperiod and may anddiffer may differ from calendar from calendar year statistics year statistics
Recently sold properties
11 CASTLEWOOD 11 11 CASTLEWOOD CASTLEWOOD DR DRDR 31 DAPHNE 31 DAPHNE AVEAVE 11 CASTLEWOOD DR
72 OLD 72 72 OLD CASTLE OLD CASTLE CASTLE HILLHILL RDHILL RDRD 14 RIDGECROP 14 RIDGECROP DR DR 72 OLD CASTLE HILL RD
$1,450,000 31 DAPHNE AVE 55 bed | 3WAY bath | WAY 2 garages 892 m² 5 GLENOWEN 5 GLENOWEN GLENOWEN WAY 72 OLD 72 OLD CASTLE CASTLE HILLHILL RD RD 5 GLENOWEN WAY
$1,400,000 14 RIDGECROP DR 418bed |BIMBIL 2 bath 2 garages 775 m² 18 BIMBIL 18 BIMBIL PL PL|PL 2 BROSNAN 2 BROSNAN PL PL 18 BIMBIL PL
$1,580,000 5 GLENOWEN WAY 4 bed | 2 bath | 2 garages 516 m²
$1,630,000 18 BIMBIL PL 3 bed | 1 bath | 2 garages 1,173 m²
Source: pricefinder.com.au | Properties included may or may be CHEPSTOW sold by Ray DR WhiteDR 18 BIMBIL 18 BIMBIL PL PL 15not CHEPSTOW 15
2 BROSNAN 2 BROSNAN 2 BROSNAN PL PL PL 2 BROSNAN PL
$1,910,000 2 BROSNAN PL 5 bed 3 bath | DR 2 garages 15 CHEPSTOW 15|15 CHEPSTOW CHEPSTOW DRDR 678 m² 15 CHEPSTOW DR
$1,888,000 15 CHEPSTOW DR 5 bed | 2 bath | 3 garages 599 m²
Jul
Jul
Jul
2017 2017 2017
Jul
2 22
2 22
2 2 2 22 HOUSE +11.8%
2 22
29 Days 29 Days Jul Jul
29 Days Jul
2017 2017 2017 29 Days 29 Days
29 Days
179 m² 179 m² 1792m² 2
Suburb Growth
179 m² 179 m² 179 m²
2
# Sold Properties
371 2
Jul
Jul
2017 2017 2017
Suburb Growth
UNIT +9.9%
82 Days 82 Days
82 Days
194 m² 194 m² 1943m² 3
2 32
4 24
4
82 Days
194 m² 194 m² 1943m² 3
2 32
4 24
4
Jul Jul Jul #2017 Sold Properties 2017 2017
138
82 Days 82 Days
18/11 18/11 HARRINGTON 18/11 HARRINGTON HARRINGTON AVE AVE AVE
73/59A 73/59A CASTLE 73/59A CASTLE CASTLE ST ST ST
51/31 51/31 -3951/31 -39 SHERWIN SHERWIN -39 SHERWIN AVE AVE AVE
18/11 18/11 HARRINGTON 18/11 HARRINGTON HARRINGTON AVE AVE AVE
73/59A 73/59A CASTLE 73/59A CASTLE CASTLE ST ST ST
51/31 51/31 -3951/31 -39 SHERWIN SHERWIN -39 SHERWIN AVE AVE AVE
$954,000
$950,000
$692,000
18/11 HARRINGTON AVE 4 bed | 2 bath | 2 garages 9,712 m² 117/23-35 117/23-35 117/23-35 CRANE CRANE CRANE RDRD RD
73/59A CASTLE ST 3 bed | 2 bath | 2 garages 3/33/3 ELABANA ELABANA 3/3 ELABANA CRES CRESCRES
51/31 -39 SHERWIN AVE 1 bed | 1 bath | 2 garages 7,870 m² 35/22-26 35/22-26 35/22-26 MERCER MERCER MERCER ST ST ST
117/23-35 117/23-35 117/23-35 CRANE CRANE CRANE RDRD RD
3/33/3 ELABANA ELABANA 3/3 ELABANA CRES CRESCRES
35/22-26 35/22-26 35/22-26 MERCER MERCER MERCER ST ST ST
$965,000 117/23-35 CRANE RD 3 bed | 2 bath | 3 garages 3.48 ha
$950,000 3/3 ELABANA CRES 3 bed | 2 bath | 1 garages 2,890 m²
Source: pricefinder.com.au | Properties included may or may not be sold by Ray White
$655,000 35/22-26 MERCER ST 1 bed | 2 bath | 1 garages 1.26 ha 5
Top 10 house sales Address
Sold date
Land size
Price
1
152
OLD CASTLE HILL RD
24/6/2017
4000m2
$3,500,000
2
22
BRAE PL
20/5/2017
739.3m2
$2,600,000
3
51
BALINTORE DR
1/5/2017
763.6m2
$2,575,000
4
20
DARCEY RD
21/5/2017
702.2m2
$2,475,008
5
92
GOORAWAY DR
24/6/2017
1125.1m2
$2,400,000
6
6
YINNELL PL
22/5/2017
702.4m2
$2,400,000
7
27
LYGON PL
26/5/2017
737m2
$2,398,888
8
25
WILLS AVE
22/5/2017
1514.4m2
$2,320,000
9
42
WHITE CEDAR DR
27/5/2017
985.7m2
$2,250,000
10
55
OLD CASTLE HILL RD
13/5/2017
636.6m2
$2,220,000
Properties included may/may not be sold by Ray White
Top 10 unit sales Address
Sold date
Price
1
7/16
MERCER ST
2/5/2017
$1,600,000
2
7/52
PARSONAGE RD
3/5/2017
$1,180,000
3
8/35
PARSONAGE RD
13/5/2017
$1,122,000
4
902/12
PENNANT ST
17/6/2017
$1,080,000
5
1/51
PARSONAGE RD
9/6/2017
$1,055,000
6
54/2
PURSER AVE
21/6/2017
$1,040,000
7
7/11
HARRINGTON AVE
20/5/2017
$1,035,000
8
2/193
OLD NORTHERN RD
3/5/2017
$972,000
9
18/11
HARRINGTON AVE
19/7/2017
$954,000
10
3/3
ELABANA CRES
4/7/2017
$950,000
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 JULY
JUN
MAY
APR
MAR
FEB
JAN 2017
DEC
NOV
OCT
SEP
AUG
$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
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