Thursday, 19 December 2013

Homes in Summer Hill sell faster than any other inner west suburb

Homes in Summer Hill sell faster than any other inner west suburb


1 Henson St, Summer Hill Sold for $1.63 million by Harris Tripp First National. On the market for 20 days.
1 Henson St, Summer Hill Sold for $1.63 million by Harris Tripp First National. On the market for 20 days. Source: Supplied
HOUSES in Summer Hill are selling quicker than any other suburb in the inner west.
While homes in the inner west are selling after an average of 77 days, properties in Summer Hill are going out the door in less than half that time.
The average days on market for the suburb is just 36, compared to the Sydney average of 92.
Agent Gabriela Rodriguez from Raine & Horne Summer Hill said demand is high for houses.
"There is a lack of stock on the market at the moment and we are seeing more buyers looking to purchase in the area," Ms Rodriguez said.
 Summer Hill strreet scene. Picture: Phil Blatch
The village feel and green space near Summer Hill has attracted buyers. Picture: Phil Blatch Source: News Limited

And while 36 days is the average time for a home to be sold, she said she's experiencing much quicker results.
"I'm selling homes in one week," she said.
Typically it's first-time buyers and investors choosing to call the suburb home.
"People are seeking the village atmosphere and the area is close to public transport both buses and trains."
"Investors are looking at the growth and the area is probably still a bit cheaper than other suburbs."
RP Data figures show the area has a median house price of $912,500, up from $660,000 in 2003.
 Summer Hill streetscape.
Summer Hill streetscape. Source: News Limited

The suburb has seen a growth of 25.9 per cent over the past five years while 51 properties have been sold in the past year.
As for what Ms Rodriguez expects the future to hold for Summer Hill
"Nearby developments will bring people to the area," she said.
"There will always be a demand, there always has been."