Real Estate

New homes and infrastructure adds to the appeal of sprawling suburb

Written by The ReReport
As seen in the Source link, written by on 2018-12-14 18:45:12

KELLYVILLE has taken out honours as the State’s most popular suburb for homebuyers searching for property online.

The leafy suburb, in Sydney’s northwest, which is well known for its new style housing attracted 263,452 enquiries through during the past year, ranking it sixth placed nationally.

It was followed by Mosman which recorded 236,410 searches and Castle Hill with 233,008 enquiries during the same period through the popular property website.

They were the only three NSW suburbs to appear in the Top 20 National Top Searched Suburbs, with Richmond in Victoria taking out the overall number one spot.

Agent Sunny Lee from Laing + Simmons Kellyville, who recently sold 14 Nangar Crescent for $1.07m, said the suburb appeals to a wider range of buyers because it offers a variety of price points — including those looking to break into the market.

“The homes are also newer than the rest of The Hills area, especially North Kellyville — it’s popular with young people who like modern homes plus it has all the coming infrastructure with the train line,” he said.

Latest figures from CoreLogic RP Data show there were 326 sales recorded in Kellyville in the 12 months ending in September. This was the third highest volume of transaction in The Hills area behind Castle Hill (441 sales) and Baulkham Hills (422 sales).

The median house price in Kellyville dropped three per cent during this time to $1.17m. There were 37 units sold with the median price of $722,000. On average homes are spending around 45 days on the market.

It is now possible to buy freestanding single level homes in the suburb for under $1m. Recent sales include 4 Arnold Ave, a four bedroom home positioned on a 424 sqm block, which recently fetched $910,000.

Kellyville also has its own prestige market with luxurious custom-built mansions which can attract a premium price.

A new residential record was set earlier this year when 28-28a Strathfillan Way sold for the unusual sum of $3.325123m through Merc Real Estate.

Three buyers submitted final written offers to secure the grand six bedroom residence, which features a 2.5m drop chandelier, eight-person elevator and an indoor fish tank built into a natural rock formation.

Agent Peter Pokorny from McGrath Castle Hill believes the size of Kellyville also contributed to its large volume of online searches. The Geographical Names Board earlier this year realigned its borders creating two new suburbs of Norwest and North Kellyville, however, they do not yet appear on online property searches.

Mr Pokorny, who recently sold 31 Curtis Rd for $1.05m, agreed that the range of price points added to the suburb’s appeal. It is attracting good numbers at open inspections, however, there is currently a large volume of stock on the market.

“The suburb offers a good overall family lifestyle, it has a combination of established but predominantly newer homes and easy access to all amenities including shopping centres, coming transport and Norwest business park,” he said.