Sunday, 25 November 2012

Hornsby real estate market heats up


Hornsby property market sizzles
I’ve been keeping a close eye on this market for a long while and I’ve noticed that the last couple of months have been particularly busy.

The properties on market are getting sold within the first week. It would seem that buyers are intent on getting their hands on the available properties here.

Who could blame them? There’s a lot to like about Hornsby.
First and foremost is the convenience.

The big Westfield shopping centre houses massive array of retailers, restaurants and even cinemas. There’s also a couple of fitness clubs for the health buffs and a large number of medical centres. 
The Hornsby train station is a major stop for all trains travelling to and from Newcastle to the city and also for those travelling the Northern and North Shore lines. The suburb is about 22km to the Sydney CBD and takes about 45 minutes drive via the Pacific Highway.
The Hornsby hospital is within easy walk from the Hornsby CBD and there are also a number of schools ranging from primary to secondary levels.

Hornsby scores high in terms of liveability. It’s relatively safe and quiet. My street is considered a main thorougelyhfare, yet it’s quiet. My neighbours are great. They even take my rubbish bin in for me.

Rents are rising but still relatively affordable compared to neighbouring suburbs such as Waitara, Wahroonga or Turramurra. Property prices are also much lower when compared to these suburbs.
While there are a couple of housing developments underway, I believe demand from the fast-growing population will soak it up fast. Hornsby has been touted as the next “Chatswood” and with the rate it’s going, this may happen sooner than later.

Hornsby suburb stats

Median listing price (2 bedroom units): $438,000

12 month growth: 2.2%

Median weekly rent: $430

Gross rental yield: 5.1%

Best buys: 2 bedroom units

Where: Units around May Street, Muriel Street and Florence Street are highly desirable


Disclosure : Author owns an investment property in the suburb.