Media release - 11th March, 2016

The St Mary’s real estate market, in western Sydney, continues to defy property market critics with a magnificent 4-bedroom house at 156 Adelaide Street, St Marys selling for a record $1,230,000.

156 Adelaide Street, St Marys “This result smashed the previous record and is the highest price ever paid for a 1267sqm block of land in St Marys,” said selling agent, Peter Diamantidis, Sales Manager, Raine & Horne St Marys.

“The previous record established last year was $1,120,000, and this was for a bigger lot of 1410sqm.

“The result also illustrates that the property market in our small patch of western Sydney is at least as hot as the market highs recorded back in the winter of 2015. It might even be stronger.”

Underlining the remarkable result, the property never made it to the internet, with Mr Diamantidis giving first right of refusal to buyers on the extensive Raine & Horne St Marys database.

“It sold in just two days and we issued 23 contracts to interested parties.”

The last time the property sold, in November 2000, it went for $280,000, according to Mr Diamantidis.

There are a number of factors that Mr Diamantidis believes contributed to the result and the overall health of the local market.

156 Adelaide Street, St Marys “There’s no doubt that with Badgerys Creek Airport now a definite, St Marys’ location just 15 minutes away is a major attraction for buyers with a long-term view,” said Mr Diamantidis.

“It’s not just the airport that’s coming our way – there’ll be a large raft of infrastructure improvements to support Badgerys Creek.

“This includes the upgrade of The Northern Road, and the construction of a new east-west motorway to the airport between the M7 Motorway and The Northern Road, to be known as the M12 Motorway.

“With an airport and the massive investment in infrastructure, the growth prospects for properties like this over the next decade will be significant.”

–ENDS–

For further media information contact:

Peter Diamantidis, Sales Manager, Raine & Horne St Marys on 0404 051 702

Andrew Harrington, National Communications Manager, Raine & Horne, on 02 9258 5400

St Marys real estate in record breaking mood