AFFORDABILITY is driving the Baulkham Hills property market with the suburb enjoying one of the highest number of sales in the area since the start of the year.
Latest figures from CoreLogic shows there have been 18 property transactions recorded in the suburb since January — more than double the number in other areas.
Suburbs such as North Rocks, Glenhaven, Bella Vista, Dural, Cherrybrook, Northmead, Kenthurst — have all recorded five or less sales this year and all down from the start of 2018. Just two properties have sold in Rouse Hill since January, in comparison to 11 sales recorded during the same period in 2018.
Kellyville has fared better with 14 sales since the start of 2019; while Castle Hill has topped the list with 22 transactions.
Agent Igor Jugovic from Manor Real Estate just sold 23 Magnolia Ave, Baulkham Hills for $1.14m after its second open inspection.
The single level four bedroom home sold prior to its scheduled auction. It is positioned on a 750 sqm block overlooking the Cropley Reserve and also has an in-ground pool with cabana.
“We were very surprised with the level of inquiry and the number of buyers — at the first open home we had 33 groups go through it,” Mr Jugovic said.
“A lot of homes like this with four bedrooms, two bathrooms and a double garage will be in the mid $1.1m range which is fairly affordable for families looking to upgrade.”
Other sales recorded in the suburb include 29 Crestwood Drive which sold for $1.01m and 7/40 Dobson Crescent, a two bedroom townhouse which sold for $758,500.
Agents have been busier in Castle Hill, however, according to CoreLogic RP Data the number of transactions is almost half of those recorded at the start of last year.
Brian Caba from LJ Hooker Castle Hill believes the market will stabilised towards the latter end of the year and listings will increase following both the Federal and State elections.
“Homes are still selling but not for the same prices from 12 months ago and sales are down 50 per cent, the only way you are going to sell if the vendors meet the market,” he said.
“There are still people out there who need to sell
“The positive is that current conditions makes it more affordable for buyers outside our area to purchase and enjoy all the benefits of living in The Hills district.”