The price gap between residential and acreage properties in The Hills has narrowed due to unprecedented value growth over the past two years.
While house prices across Sydney have adjusted since March, the gains made during the boom have allowed buyers to make the transition to semi-rural living, says agent Will Hampson from Lumby Hampson.
Recent sales include 19 Radnor Rd, Galston which sold for $2.575m and was purchased by a Box Hill family who had sold residential property. Another property at 91 Spur Place Glenorie fetched $2.55m at auction, it was purchased by a family who had sold in Castle Hill.
“While we are seeing prices stabilise from the peak in the market, the changeover to buying an acreage is not as high as it once was and this is appealing to a lot of buyers,” Mr Hampson said.
“Lifestyle is determining where people are making their next move and for many, it is about living in a less congested area and having space.”
The residential pockets of Glenorie and Galston communities are also offering good value. Also recently selling was 4 The Glade which fetched $1.475m. The dual-level four-bedroom property, set on a 708sqm block, features a swimming pool but does not have parking.
“Not everyone has the budget to purchase acreage, but the residential pockets are an affordable option that allows families to enjoy the charm of a semi-rural village-like setting,” Mr Hampson said.
For more information:
Kate Lumby – 0414 620 222 | Will Hampson – 0414 620 333
