2 June, 2011

North West Rail Link to drive Castle Hill property prices

Castle Hill, in Sydney’s growing north-west corridor, is set to be a property hotspot following the NSW government’s green-light for the North West Rail Link, connecting Rouse Hill to Epping via Castle Hill.

Raine & Horne Castle Hill principal Damien Hickey said the North West Rail Link would prove a major bonus for local homeowners in coming years by increasing available transport options for city commuters, which were currently limited to private buses and the M2 road link.

Proximity to the North West Rail Link was set to become a major consideration for homebuyers who commute daily to the Sydney CBD," he said.

“This will factor into the thinking of many buyers, while the link will likely add to the values of homes within two or three kilometres of the proposed railway stations," Mr Hickey said.

Nevertheless, Mr Hickey warned that proper planning was essential, and urged the state government to continue to consider parking and carriage capacity for commuters intending to use the new rail service.

“These are key issues, and we are very pleased the Government has announced that 3000 park and ride spaces will now be made available, while access will also be provided for buses, pedestrians and cyclists.”

While the North West Rail Link was expected to help stimulate home price growth, Mr Hickey, who recently launched Raine & Horne Castle Hill, said the timing of the government’s announcement could not be better.

Located in the heart of Castle Hill at Suite 6/31 Terminus Street, Raine & Horne Castle Hill is currently specialising in residential property, however Mr Hickey already has plans to build a diversified real estate business to meet the demands of the local community.

“Our vision is to build a business that is supported by strong property management and real estate sales, serving clients across The Hills from Kings Langley to Kellyville,” said Mr Hickey, who earned his stripes working in commercial real estate before transferring to residential property.

“Castle Hill is a large suburb with a good range of properties, and aspiring homebuyers will find that it offers good value for money.”

The average price for a four-bedroom Castle Hill home, with study and double garage, and built on a 750 square metre block, is $730,000. Likewise, the median price for two bedroom apartments is $500,000.

Apart from Castle Hill, Mr Hickey also recommends Winston Hills, Northmead and some parts of Baulkham Hills, which offer excellent value for first homebuyers.

For more information about the property markets in Castle Hill, Winston Hills, Northmead and Baulkham Hills contact Raine & Horne Castle Hill on (02) 8850 5050.

Raine & Horne is an iconic Australian property firm, with more than 360 offices worldwide. Also an established Superbrand along with the likes of Qantas, Vegemite, Woolworths and Myer, the company has four distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial, Raine & Horne Financial Services and Raine & Horne Rural.

-ENDS-

For further media information contact:

Damian Hickey, Principal Raine & Horne Castle Hill, 02 8850 5050 or 0418 273 058.

Anna Truman, National Marketing & Communications Co-ordinator, 02 9258 5448.