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High Demand, Low Supply Power Rouse Hill Strength


Due to recent transportation links and a flurry of urban development, Rouse Hill is becoming the go-to spot for families to work, rest and play.


Tucked away to the north-west of the Sydney CBD and Parramatta, Rouse Hill is at the epicentre of the booming property market in The Hills.


The area has undergone a huge transformation, with two Metro Stations connecting residents to the CBD, the development of the award-winning Rouse Hill Town Centre (judged ‘Top 5 Best New Developments in the World’ by the Urban Land Institute’s Global Awards for Excellence- 2010) and a highly anticipated opening of a hospital.


Early construction works have begun for a 30,000sqm shopping precinct to accommodate the booming north-west population growth.


Located conveniently next to the Tallawong Train Station, this will be the second major shopping destination servicing the area.


Set to embrace retail anchors such as Woolworths and Coles and more than 40 specialty stores, including restaurants and cafes, the master plan for the precinct's development has the local community at its core.


Castle Group director Ritchie Perera, Rouse Hill’s largest landowner and developer, is a passionate advocate of the area.


“I’ve seen Rouse Hill transform into the most sought-after area in the north-west,” Perera said.


“It’s an area with huge demand and very little supply of low and medium-density houses.


“That’s why the Rouse Hill property market has consistently performed.”

According to data from Pricefinder, the median price of a house in Rouse Hill for the period June 1, 2021, to May 31, 2022, was $1,500,175.


During the same period, the median price of an apartment was $680,000.


To keep up with the Rouse Hill housing demand, Castle Group has three projects due to be completed over the next 12 months.


The first project expecting completion is 24 Clarke Street, a 52-lot subdivision under construction and set for land registration by October this year.


Located 700m from Tallawong Metro Station and opposite 10ha of future parkland, Castle Group’s second development at 95 Tallawong Road is catching the eyes of home buyers and investors.

After a hugely successful Stage One presale release, Castle Group is preparing to launch Stage 2 of their 50-lot subdivision by late August this year.

Most of the developments’ free-standing 3, 4 and 5-bedroom homes are priced below $1.2 million, with already 200 pre-registered customers.

That success has spurred Castle Group to adopt a similar scheme to their third development at 74 Tallawong Road, located 500m to Tallawong Metro Station.

“Our knowledge of the market and buyer demographic has allowed us to bring to market what I believe will be the most in-demand product in Rouse Hill,” Perera says of 74 and 95 Tallawong Road.

It’s a market segment that will see an increase in demand on the back of the NSW government allowing first-home buyers to opt for a land tax rather than stamp duty – a potential $90,000 saving.

The equity scheme for selected professions, including nursing, will also buoy demand for property in Rouse Hill, with the forthcoming Rouse Hill Hospital only moments from Tallawong Road.

After more than six months of planning, Castle Group will lodge a development application for 240 apartments at 100 Tallawong Road Rouse Hill in the coming weeks.

This market-leading development will see 30 apartments set aside for affordable housing.

“In total, there will be more than 60 apartments and studios under $550,000 and our research has shown that due to this price point there will be strong demand from first-home buyers and essential workers such as nurses (due to the upcoming new Rouse Hill Hospital),” Perera said.

“We also forecast, due to the less than 20 minutes of travel time, the parents of students from Macquarie University will buy these very affordable products for their kids.”

Known for their charitable endeavours in the community they help build, Castle Group and its charity arm, Perera Foundation, will also be allocating a three-bedroom apartment as a domestic violence refuge in the newest development.

The Perera Foundation also plans to continue its other community initiatives, such as supplying medical equipment to hospitals, hosting anti-bullying workshops and furthering already implemented domestic violence initiatives.

The foundation has donated almost $2 million to worthy causes at home and abroad in the past decade.

After three successful land auctions in 2021, Castle Group has announced it’s hosting an auction, their first of 2022, at their luxury One Fairway estate on Sunday, July 31. There will be the opportunity to buy a house and land, or land in:

  • One Fairway Kellyville - 2 house and land packages.

  • 95 Tallawong Road, Rouse Hill - 1 house and land package.

  • 141 Tallawong Road, Rouse Hill - 1 land lot.

  • 24 Clarke Street, Rouse Hill - 1 land lot.

“Our auctions are family-friendly events where you can come for the food trucks and leave having secured your family’s future. We hope to see you all there,” Perera said.


from Https://www.theurbandeveloper.com/


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