Cherrybrook,sydney

HI EVERYONE,

I am looking t0 buy a 4 bedroom PPOR in CHERRYBROOK. Just wondering what everyones thoughts are on this suburb and its growth forecast. What i know of is that there are good Schools for Kids, close to Castle Hill, Have a train line come in the next few years and one of residex guides predicted a 8 - 10% growth in the next 5 -7 YEARS.

So what i would like to know before i move to this area is what was the median price and growth in the past and what would we believe the future growth will be (crystal ball gazing or educated guess is suppose).

The $$ amaount is quite large so all help we can get would be most appreciated.

THANK YOU

DAYA

Nice area. Good shops. I love the way the power lines are all underground.

HOWEVER: transport is sub-par. Where did you read that the train was coming? Given that they cut the original Parra to Chatswood link, I wouldn't hold my breath for a train to Cherrybrook.
Alex

I live in Cherrybrook and so am very biased to the area. It's a lovely part of
the Hills, very family oriented with good shops and schools. The areas zoned for Cherrybrook Technology High are much sought after. Watch out for those overhead power lines though !

In saying all of the above, we have not seen any major capital growth (not more than 1 - 2 % pa over the last 4 years when the Sydney market took quite a downturn) a 4 bedroom house on a 700 block would cost around the $650,000 mark - we know a few people who are keen to move into the area before prices rise which is tipped to happen 2008 or so, I reckon.

Good luck.

alexlee said:

I love the way the power lines are all underground.

Click to expand...

Apart from the one massive line that cuts through the suburb and across WPH!!

I like Cherrybrook. The shops that were rebuilt a year or two back are very popular. Bus/transport is like all the transport in the hills...non-existant. Although I used to bus it to the CBD and just sleep or read a book. Not sure what impact lane cove tunnel has made. Trainline I think you refer to the Norwest Rail Link but I wasn't aware it would go further north than castle hill.

Area's I prefer are the bush aspects off Purchase Road. Houses around County Drive are newer but more closer together.

Here's a tip, although maybe this should be in the caveat emptor section. This house across at WPH has been on the market fo 6 months. It was previously on with C21 and the bank was about to reposes it. I'm not sure if this is a forclosure now but might go for a good price. I know the owner had an offer of $650 and knocked it back, now he probably has nothing. http://www.realestate.com.au/cgi-bi...=&fmt=&header=&c=40202545&s=nsw&tm=1186563837

Personally, mainly because of transport since I'm working in the city (with very little chance I would ever work in, say, Ryde), I'm looking for a place within a 2km radius from a Northern Line station (Normanhurst, Thornleigh, Beecroft, etc). I love the McMansions at Castle Hill, Cherrybrook, etc but the transport isn't good enough.
Alex

Thank you everyone for your replies. It is most encouraging. I am currently
looking at the Cherry Tech School zoned area and am finding prices ranging $600K to $850K. This is what scares me as the range is quite large for similiar 4 bedroom homes but it would be $850K if it has some charm and renevation done to it.
So your replies are a great help.
Thank you. I too was looking at beecroft/Cheltenam areas but for the last few months have not seen any new property come to the market that is decent and well priced.

Daya

twobobsworth said:

Here's a tip, although maybe this should be in the caveat emptor section. This house across at WPH has been on the market fo 6 months. It was previously on with C21 and the bank was about to reposes it. I'm not sure if this is a forclosure now but might go for a good price. I know the owner had an offer of $650 and knocked it back, now he probably has nothing. http://www.realestate.com.au/cgi-bi...=&fmt=&header=&c=40202545&s=nsw&tm=1186563837

Click to expand...

I've seen this and think that they're very likely to get at least mid $700K's+ at upcoming auction so can understand why they knocked back $650K.
Though auctions aren't common in this suburb, they may well accept a lower last bid on the day- will watch this with interest.

DAYANAND said:

Thank you everyone for your replies. It is most encouraging. I am currently
looking at the Cherry Tech School zoned area and am finding prices ranging $600K to $850K. This is what scares me as the range is quite large for similiar 4 bedroom homes but it would be $850K if it has some charm and renevation done to it.
So your replies are a great help.
Thank you. I too was looking at beecroft/Cheltenam areas but for the last few months have not seen any new property come to the market that is decent and well priced.

Daya

Click to expand...

I was just about to ask you what happened to Beecroft Daya

You will definitely find something under $750K in Cherrybrook that suits- perhaps not all in the Tech School zone but is that really necessary?
I know people who live out of the zoning with kids that still attend.

Hot off the Residex press, figures for last year (end June 06-07) show Cherrybrook had a very healthy cg rate of 5.45% with last 10 years averaging 8.44% The median house price has actually moved upwards from $610K to $643K this year and so I would consider now a good time to buy.

Of course, I am a local and know the area very well - just been looking for a client in there as well but she decided to buy closer into her work at Norwest Biz Park.

Good luck with your search

Thanks Jacque. You always have been a good help with good advice. We have not ruled out Beecroft/Cheltenam area. The reason for Cherry brook tech is that i have 2 young ones who we would prefer if they could attend Cherrybrook Tech. Also the area around the school area is much nicer is what we felt as went for a few inspection.

So we are abiding our time as we have sold our PPOR and going to do our next move. We hope to get it right.

Thanks once again with the CG and residex figures.

Daya

Hi DAYANAND,

I only registered today in this forum and this is my first ever post.

I can certainly help you with this because I just bought 4 bd house with rumpus and pool in
Cherrybrook near Cherrybrook Tech High School. It is still in pre-settlement period. I will
move in at early September. We currently live in Strathfield and I can tell you my wife and I
loved the Cherrybrook environment for us to move ourselves over there, even though it will
take away my convenience. I probably have seen all the houses you have inspected over there, haha!

Cherrybrook is definitely a very nice and friendly and feelgood suburb and the Cherrybrook
Village is absolutely fantastic in my opinion. Also it is only 10 minutes drive to Castle Towers (to be doubled in size to be "The Biggest Shopping Centre in the Southern Hemisphere") makes major shopping very convenient. Oh yes, the people are so nice and polite there!

Cherrybrook Tech High School has fantastic reputation as the best non-selective public high
school for HSC in NSW for the last few years. That means any property within this catchment can send their kid to cheap and fantastic high school, and I can tell you you can save thousands especially education will become more and more important. I buy here because I believe in quality and cheap education and I don't want to pay thru the nose to send my kids to private school (like 10-20K per year per kid for nothing). So yes, CTHS is definitely a property asset. That's why most properties that zoned in the catchment area has higher property price value than the ones that is outside, and I am talking a premium of 30K or more at least, which I think is worth it if you can save thousands in education fees.

Note that certain part of Cherrybrook are NOT inside CTHS catchment area, and certain part of Dural and Castle Hill is zoned in CTHS.

We have been looking at the suburb since late May and I noticed that since early June a lot of stocks were taken very quickly. In fact the real estate agents over there (most at Thompson Corner) said at least half of all the stocks in the last 2 years "evaporated" ...... And In June and July we constantly go to home inspections to find out they are all under offer. Any decent properties priced correctly would snapped up so quickly (like 1 week or less). At the moment the prices are moving up but the biggest problem for you maybe there is lack of supply (All the agents told me that most people who moved into Cherrybrook don't like moving out). So you may have to pay a premium for it.

Another thing about the rail link, currently it is under community approval. Have a look at this website from the NSW government, and you can see the potential for Cherrybrook is huge.

North West Rail Link
http://www.tidc.nsw.gov.au/ViewSite.aspx?PageID=561


Click for a free RPDATA report, and have a look at the demographics and income level in Cherrybrook and you can see why it has great potential.

Cherrybrook (Postcode 2126)
http://reports.rpdata.com.au/cgi-bin/vgmsg/RP_Reports/subprofile/rprephome.p?type=1

Another thing, I have access to Residex report on it for this year and it is very favourable in terms of cg ......

Final tip, avoid that HUGE powerline at all costs! Everyone is scared of it!

If you have any questions let me know,


Edison the new Cherrybrook resident

Hi DAYANAND,

Just letting you know that I have worked in the local primary school (Cherrybrook PS) on several occasions over the last 3-4 years. I must say that there does not appear to be many behavioual problems or issues concerning the surrounding community that have been reflected through the students.

Just thought it might be of use to you. I think its a great family neighbourhood with a really great atmosphere and aesthetics.

Good luck with the move!

This is a silly question from someone that don't know the area at all.
Why is WPH that has many mansions on huge land like 1500 sqm+ has much cheaper land per sqm comparing to Cherrybrook?
If WPH is more prestigous than Cherrybrook wouldn't it make the land more expensive too?
I am just curious since my sister just bought a house in Cherrybrook and will be moving in there with her family in next month.

Thanks Edison for this detailed information. Just one question if you do not mind answering. What was the Advertised price for the property you purchased and what can you negotiate upto. I am currently negotiating on a 4bedroom home and i am not sure how much i should be going for. Rest Assured i do not want to jepordise your purchase in anyway. I just want to get a ballpark figure of how much sellers are willing to negotiate and what the Agents will allow.I hate to give money away.

Hello Peta - Thank you for your school insight. This is most helpful as i have couple of kids .

Daya

Pennant Hills

Hi,

Cherrybrook is a nice suburb; i live in the neighbouring suburb of Pennant Hills.
Just a note of caution tho:every morning, Boundary Road is choked with residents of Cherrybrook driving to work. Many of them drive and park their cars around Pennant Hills station in order to catch the northern line to the city. In terms of academic standards, i do not think there is much differential between Pennant hills high school and cherrybrook tech. Also I notice more Chinese and Indians and Sri Lankans moving in into Pennant Hills in the past year; and i know that they go where the academic standards are high.

So to conclude, if you need the train, i recommend Pennant hills.

Cheers

DAYANAND said:

Thanks Edison for this detailed information. Just one question if you do not mind answering. What was the Advertised price for the property you purchased and what can you negotiate upto. I am currently negotiating on a 4bedroom home and i am not sure how much i should be going for. Rest Assured i do not want to jepordise your purchase in anyway. I just want to get a ballpark figure of how much sellers are willing to negotiate and what the Agents will allow.I hate to give money away.

Hello Peta - Thank you for your school insight. This is most helpful as i have couple of kids .

Daya

Click to expand...

The propery we bought ended going as a Dutch auction. ie everything settled within the day of inspection, including exchanging of contracts etc. So we just gave a value that we think is reasonable the vendor accepted it on the day. The agent told me afterwards that for the next week there were plenty of enquires/offers about the property even though the contact was exchanged already ..... Not sure if I believe him or not though.

Depending on the property in Cherrybrook if the house is good (ie not near massive power line, within CTHS Zoning, etc) is priced correctly it will be sold very quickly. That is the trend at the moment. The real estate agent already noticed this and they probably already tell the vendors that already so they jack up the price and then you have to negotiate with them.

Another thing is that some real estate agent advertise some property as within Cherrybrook but the actual property is in Dural/Castle Hill (Oakhill). so watch out for that.

Please PM me if you want further information ........

Virgo

I think Cherrybrook Tech (CTHS) has had far greater academic success than Penno, I was reading the school 06/07 report card only last evening. I know a few students who've moved to CTHS in years 11 and 12 from the Penno area.

Getting out of Cherrybrook in the morning on Boundary Road is a pain - I sit
in traffic every morning and have just taken that in my stride. Unlike
hubby who grumbles ever so often !

Also, St Agatha's Catholic Parish at Pennant Hills is a lovely and fostered faith community and everyone is welcome.

Just my tuppence for the day ....

Cherry Pro said:

Virgo

I think Cherrybrook Tech (CTHS) has had far greater academic success than Penno, I was reading the school 06/07 report card only last evening. I know a few students who've moved to CTHS in years 11 and 12 from the Penno area.

Getting out of Cherrybrook in the morning on Boundary Road is a pain - I sit
in traffic every morning and have just taken that in my stride. Unlike
hubby who grumbles ever so often !

Also, St Agatha's Catholic Parish at Pennant Hills is a lovely and fostered faith community and everyone is welcome.

Just my tuppence for the day ....

Click to expand...

Hi Cherry Pro,

Just a quick question when does Boundary Road get banked up with cars going to Pennant Hills station in the early morning? If leaving Cherrybrook at 7am would that be OK?

That's my worry when considering the Western hills areas. I love the houses at Cherrybrook, Castle Hill, etc. but I'm concerned about transport, as I'm pretty much stuck in the city.
Alex

Hello Edison

Don't think 7 am would see any major traffic build-up but I'm not sure as I don't leave that early. Remember a friend saying that if you're out of the area before 7.30 am, you're sweet.

I drop off the kids to school and am on my way to work at about 8.15 am ... that's when the cars bank up on Boundary Road...getting out of Cherrybrook...not particulary headed towards the station where parking is fairly restricted... but to North Ryde ... Parramatta ... wherever.

Also, have travelled on the M2 City buses from Cherrybrook to the City on a few occassions and that is just so cool - door to door, not more than 50 mins.

School holidays are a dream so you know who's to blame !

Good luck !

Cherrybrook

Hiya,

You can always rent in Cherrybrook for a while if the school is that important to you....i know many people do...

i was in a quandary between PH and CB until i tested Boundary Road one weekday morning...