Andrew Heath - respected Pitt Town mortgage broker, looks at the value offered by Pitt Town.
Some home buyers look for lifestyle; others aim for capital growth. I believe Pitt Town has the potential to deliver both.
As Sydney continues to expand to the north-west, the land currently available in Pitt Town will steadily rise in value. Meanwhile, today’s Pitt Town home owners enjoy a wealth of amenities.
Along with a history that dates back to colonial days, Pitt Town will be familiar to many home buyers as the setting for the fictional town of Wandin Valley, bought to fame by the popular 1980s television series A Country Practice.
With its abundance of historic buildings and leafy, rural charm, Pitt Town was a natural location for the series, though a number of new developments have sprung up since the 1980s including a modern retail centre.
More recently, Pitt Town has seen an influx of new residents following the growth of housing developments, and the town’s population is now close to 3,000. Happily, the area still retains much of its historic charm.
Pitt Town homes achieve 36% capital growth
The benefit of development is that today’s Pitt Town home buyers enjoy a wide choice of dwellings.
The median home price for Pitt Town is around $680,000 but this belies the range of options available.
Quality homes on generous suburban blocks are priced in the $500,000s and amazingly, significant parcels of acreage can still be picked up for under $650,000. Just imagine what that land will be worth a few years from now!
Figures from RP Data debunk the myth that outer suburbs don’t enjoy strong capital growth. Indeed over the last five years Pitt Town home values have forged ahead by 36%.
Pitt Town home loan advice
With the Reserve Bank choosing to keep interest rates at record lows, now could be the time to ‘live the dream’ of a home on acreage in a town that offers all the convenience of modern life.
For expert, local advice selecting your Pitt Town home loan, contact Andrew Heath at Mortgage Choice Richmond on 02 4578 9904 or 0411 550 600. Or call in and see us at 1/37 Lennox Street, Richmond.
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*All property data sourced to RP Data Suburb ScoreCard, Corporate Edition. Data Set May 14 published August 14.