September 08, 2014
Bligh Park mortgage broker Andrew Heath takes a look at this young growth suburb.
Bligh Park has come of age. In a little under 30 years, this popular Hawkesbury suburb has grown from a new development to a sought after community. Not surprisingly, I receive many enquiries from buyers seeking a Bligh Park home loan.
It seems like no time at all since 1987 when Hawkesbury Council approved the Bligh Park Estate development. Yet the suburb goes back much further than this.
Captain Bligh’s namesake
The area was named after William Bligh – yes, that’s the notorious Captain Bligh whose crew on board The Bounty mutinied and cast Bligh adrift at sea. Some fifteen years later he was appointed Governor of the fledgling colony in New South Wales, and in between battling the Rum Rebellion, Bligh found time to buy land and develop a farm near Pitt Town in 1807. It’s no secret Bligh was fond of the Hawkesbury area - obviously the bloke recognised a top spot when he saw it.
Fast forward almost 200 years, and Bligh Park was opened to the public as a 650-lot development set on 200 hectares. As I mentioned, that was back in the late 80s. These days, Bligh Park has expanded to become home to around 6,500 residents.
160 homes purchased in past 12 months
The last 12 months have seen considerable buying activity in Bligh Park with about 160 homes sold for a median price of $460,000 for houses and $356,000 for townhouses and dual occupancies.
Based on feedback from my Bligh Park home loan customers, strong demand in the area has been buoyed by the affordable nature of Bligh Park homes, and the strong rates of price appreciation seen in the suburb. Over the last 12 months, Bligh Park home values have shot up by over 12% - with the 5-year gains sitting at an impressive 33.7%.
For first home buyers in particular, Bligh Park offers very good buying opportunities, and reflecting this, homes are selling, on average, in as little as 38 days.
Clearly it pays to be quick to snare this affordable slice of Sydney real estate.
Bligh Park home loans from Mortgage Choice
For expert support arranging your Bligh Park home loan, call Andrew Heath on 02 4578 9904 or 0411 550 600. Or visit the Mortgage Choice office 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.