1 July, 2011

Shortage of stock underpins historic Windsor real estate values

It’s built alongside the mighty Hawkesbury River and is one of Australia’s oldest colonial towns, yet a shortage of quality homes is set to underpin long-term real estate values in Windsor, in Sydney’s north-western outskirts.

Raine & Horne Windsor principal Peter Khan said that in 1794, the first settlers were farmers, however today many of our new settlers were first time home buyers, as well as downsizers.

“Many downsizers are relocating from Sydney’s Hills district and have sold properties in the $1 million range," Mr Khan said.

“This equips them with sufficient capital to secure a home on a generous size block in Windsor.”

Additionally, restrictions on the release of new land would help underpin property values in the region long term, but Mr Khan said sellers were short on the ground.

“Despite the fact sales are up 50% this year, there is a gap between buyer demand and the number of homes for sale,” he said.

“We just can’t get enough properties to meet demand, so now is an excellent time to sell a Windsor home.”

Mr Khan said real estate diversity was also a significant appeal of Windsor and the Hawkesbury region.

“We have a wide range of properties from residential homes, to acreages, small hobby farms, agricultural land and smaller and industrial properties.

“It’s a diverse market, however, first and foremost it is still affordable for aspiring and repeat home buyers.

According to Raine & Horne Windsor, brick veneer three bedroom homes built on generous 450-750 square metre blocks start from $300,000 to $350,000.

“If a homebuyer’s budget extends to $350,000 to $450,000, then it is possible to acquire a four bedroom home with a double garage and in-ground pool, in Windsor, South Windsor, Bligh Park and McGraths Hill,” Mr Khan said.

“If you’re prepared to venture across the Hawkesbury River to Freemans Reach, Glossodia and Wilberforce, it’s possible to buy small acreage properties from $500,000.”

Apart from the semi-rural lifestyle, Windsor’s excellent location was a major attraction for commuters, he said.

The historic town is only 15 minutes to Penrith and Blacktown, 10 minutes to Richmond and Rouse Hill, while it’s 35 minutes by car to Parramatta.

“There are also many commuters who take the 1 hour 20 minute train trip from Windsor to Wynyard,” adds Mr Khan.

“Windsor is also well served with good private and state schools, while locations such Richmond and Blacktown have excellent shopping facilities.

Raine & Horne CEO Angus Raine said that with a median home price of around $375,000, Windsor was a very affordable option for families.

For all your property needs contact Raine & Horne Windsor on (02) 4577 5511.

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:

Peter Khan, Principal Raine & Horne Windsor, 02 4577 5511 or 0415 261 276

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