Suburb spotlight: Castle Hill attracting mass interest

The suburb of Castle Hill, about 24 kilometre north-west of Sydney, has a rich history dating back almost to the First Fleet. In 1791 Governor Phillip led an expedition there to find suitable farming land for the struggling colony.

Later, Governor King established a government farm using Irish prisoners as labourers. In 1804 they rioted in what was called the Castle Hill Rebellion, but the insurrection was violently suppressed and several hundred convicts were shot by British troops.

All the while the intrusion of white invaders was being met with stiff resistance by the original inhabitants, the Bidjigal people, who are commemorated by the Bidjigal Reserve straddling the suburbs of Castle Hill, Baulkham Hills, North Rocks and West Pennant Hills. The nearby suburb of Pemulwuy is named after their leader.

Castle Hill’s future lay in market gardens and orchards supplying Sydney. But, as that city expanded, the orchards disappeared under suburban sprawl, retail and commercial establishments and light industry.

The Hills Shire council commemorates the area's former status as an orange-growing area with a yearly Orange Blossom Festival.

Now, of course, Castle Hill is vastly different with extensive shopping, entertainment, education, religious and sporting facilities – as well as desirable real estate.

The area attracts those who enjoy modern housing, good block sizes, open space and a family-friendly place to live.

Grant McEnally, of Gilmour Property Agents, said a shortage of properties for sale was a feature of the Castle Hill property market. ‘’There are lots more buyers than sellers,’’ he said. ‘’People want to buy in because of the affordability of the area but now we are ‘maxed out’ in terms of price.’’

His comments were supported by realestate.com.au which reports that approximately 84 people were looking at each property for sale in Castle Hill over the past few weeks.

castle-hill-nov-14-supply-dmeand-graph

Graph courtesy of realestate.com.au

McEnally said the suburb was popular with Asian buyers and would attract even more buyer interest – particularly investors - when the railway line is put through in a few years time. ‘’We’ve got everything here: good shopping centres, great schools – all we are missing is the railway line.’’ The original line was closed in 1932 due to competition from trucks and buses.

Property prices range from $500,000 up to three or four million, he said. Vacant blocks sell for around $800,000 and then there’s another $700,000-$800,000 for a new home, taking the price up to $1.5 million.

Houses median price200820092010201120122013650,000700,000750,000800,000850,000
759500

Source: RP Data

Units median price200820092010201120122013400,000440,000480,000520,000560,000

505000

Source: RP Data

Date

Median House Price

Median Unit Price

Nov-12

$810,800

$505,000

Dec-12

$780,000

$545,000

Jan-13

$800,000

$573,500

Feb-13

$820,000

$553,000

Mar-13

$816,000

$552,500

Apr-13

$784,000

$555,000

May-13

$912,000

$565,000

Jun-13

$856,500

$572,000

Jul-13

$925,000

$588,000

Aug-13

$867,000

$550,000

Sep-13

$981,500

$665,000

Oct-13

$1,035,000

$562,500

Source: realestate.com.au

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Gilmour Property Agents are selling 43 Balintore Drive, Castle Hill (pictured above) for more than $1,320,000. The five-bedroom mansion has three bathrooms and three car spaces. Set on 906 square metres in the Balintore estate it has a grand foyer, formal living areas, and open plan family and rumpus room.

The main suite has a walk-in wardrobe, private balcony and massive ensuite with his and her basins and spa bath. The huge granite kitchen has stainless steel appliances, walk-in pantry, island bench and meals/conservatory. Entertain on the covered alfresco with views to the Blue Mountains, resort style yard with inground pool and spa. 

The house has easy access to schools, shops, Heritage Park and city buses. It’s zoned for Samuel Gilbert Primary School.

Scott Matthews, of Wiseberry Estate Agents, said the Castle Hill real estate market was ‘’fantastic’’ with him selling 20 properties over the past six months. Prices ranged from $695,000-$1,650,000 – the latter being an apartment.

He agreed a shortage of stock ‘’across the board’’ was inhibiting sales with a strong buyers’ push being fuelled by record low interest rates and the change of government spurring buyer confidence.

‘’There’s a good all-round environment for buying, but the sellers need somewhere else to live and they won’t sell until they find it.’’

Matthews regards the affluent Castle Hill area as a haven for mid-to-high-income executives.

He described the outlook for real estate as ‘’very positive’’. ‘’If you want to buy property that will appreciate, look in areas where money is being spent on major infrastructure, such as railways and shopping centres. Here we have both: the new railway due for completion in 2020 and the Queensland Investment Corporation’s $600 million investment in the Castle Towers shopping centre.’’

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Wiseberry Estate Agents are selling 8 Cubby Close, Castle Hill (pictured above) for more than $1 million.  

This prestige family home in a cul-de-sac has four bedrooms, three bathrooms and triple garage. It’s near a park. The brick house has vaulted ceilings, formal lounge room, meals/atrium to the kitchen and spacious informal living areas – including a covered entertaining area and rumpus room. There are four good sized bedrooms – the main with walk-in wardrobe and ensuite. Features include ducted air conditioning.

staylor@propertymedia.com.au

 

 


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