Keen buyers quicken the pace in The Hills
Buyers are picking up the pace across The Hills, with a number of quick sales recorded since the opening of the new Sydney Metro Northwest.
Among them a double storey home at 2 Pittman Place, Bella Vista which sold off market to a buyer from a data base for $1.83m
Agent Soha Soheili from The Avenue said buyers appear more relaxed since banks have improved lending conditions.
“It really has been a combination of everything — the railway, the banks, as well as interest rates going down — so hand-in-hand that has helped,” he said.
“Buyer attitude has also changed — we used to hear them say that ‘the market is going down’ so they didn’t want to pay the asking price — but the past few weeks we have been hearing much less of that.”
Latest figures from Core Logic RP Data show in the 12 months ending in April, homes across The Hills were typically spending 48 days on the market.
However, during the past month most suburbs are recording quicker sales.
Among them 15 Kings Rd Castle Hill which sold five days after being launched on the market after being inspected by 42 groups. It is located 1.6km from the new Metro train line.
“It is a complete contrast to three months ago, back then we would have expected the property to potentially stay on the market for a lengthy period of time,” said agent Peter Pokorny from McGrath Castle Hill.
“Over the last three to four weeks the numbers through open homes have significantly increased and properties are selling quickly and good prices are being achieved due to the strong demand and the low supply.
“There seems to be a lot more confidence in The Hills market but we also took time to prepare the home for sale — it is important not to take short cuts.”
It also took just a week for a four bedroom home at 3 Parapet Place, Glenhaven to achieve its full asking price of $1.395m. It attracted 22 groups at its first open inspection with five different offers on the property.
Agent Steve Ford from LJ Hooker said while the suburb doesn’t have its own train station it is less than a 10 minute drive to both Cherrybrook and Castle Hill stations and just five minutes to Hills Showground Station.
“We have certainly seen activity levels along with buyer confidence increasing and now at its highest that we have seen in the last 18 months,” said agent Steve Ford from LJ Hooker Dural.
“Now that the Metro is open and operating, properties that are within a proximity, have seen the benefit of increased enquiry.”
Also selling fast in Glenhaven was 45 Linksley Ave; 595 Old Northern Rd and 17 Wayfield Rd — all of which sold within 28 days or less.