February 13, 2017
Chatswood – looking good for growth
Sydney’s continuing rise in home values has surprised even property market experts. Chatswood is one of the city’s high growth areas, and the combination of population growth and the quality of local amenities highlights our suburb as an attractive place to live, buy and invest.
In the last year alone, Chatswood house prices have risen from a median value of $2.010 million at the end of 2015 to $2.3 million by late 2016 – a rise of 14.4%. With gains of this nature it’s little wonder Chatswood is highly sought after by both owner occupiers and investors.
Chatswood also caters for buyers whose budget doesn’t stretch this far. The suburb provides a generous selection of quality apartments with a median value of $952,500.
Population growth supports housing demand
A key factor underpinning property price growth in Chatswood is population growth. Chatswood’s CBD currently has a population of 9,800, and figures from Willoughby Council suggest the number of local residents could swell by 25% over the next 30 years. Of course, we don’t always buy property for potential capital growth alone, and Chatswood certainly offers plenty of pluses when it comes to lifestyle.
We have a diverse and highly multicultural population, who enjoy easy access to work and leisure facilities. The opening of the Chatswood-Epping rail link has given residents the benefit of convenient proximity to other parts of Sydney, and on the flipside, this has made the local property market even more attractive to buyers.
A wealth of lifestyle options
As a Chatswood local, I believe it’s the sheer variety and quality of lifestyle facilities that make our suburb such a great place to live. Let’s take a look at a few quick facts about Chatswood that may surprise you.
Across the Willoughby district we have 50 playgrounds and 18 different sporting facilities catering for everything from basketball, netball, cricket and tennis through to croquet, bocce, athletics and skateboarding. There is quite literally something for everyone.
Even bushwalkers are catered for. You may be amazed to learn that the local council manages 290 hectares of bushland – not bad for an urban village that’s just 10 kilometres from Sydney’s CBD.
Families can take advantage of Chatswood’s broad selection of public and private schools including Mercy College, Our Lady of Dolours Primary School and Saint Pius X College. And with a diverse array of retail outlets and eateries, it’s fair to say Chatswood is a haven for shopaholics and foodies.
The bottom line is that Chatswood’s continuing property price growth should come as no real surprise.
It’s a brilliant location to call “home”, and this lies at the heart of the ongoing rise in home values we see for the suburb.