Local house prices jump a whopping 20 per cent
HOUSE prices are still on the rise in Mt Druitt and strong buyer competition is spurring on fast sales.
The suburb’s median house price hit $500,000 for the first time last month and is now at $506,500.
CoreLogic RP Data records show the figure jumped 20.6 per cent in the 12 months to February. In 2012, it was a smaller $358,000.
One of Mt Druitt’s recent sales was a split-level house on 1025sq m and it was snapped up for $1 million.
No. 38 Paull St exceeded a street record by more than $200,000 and it is one of the few residential properties in the area to have hit the million-dollar mark.
Selling agent Leon Buttigieg, from the Professionals St Marys, Plumpton and Erskine Park, said it sold at the first open house.
“I put it up for sale as expressions of interest and we negotiated a lot more than what I thought (it would sell for),” he said.
There were many eager buyers, according to the agent, who said there was about 20 groups at the open home, of which many made offers on the house.
“It is an extremely tidy property on the high side of the street.”
A family, who was already living in the area, bought the house to live in.
Mr Buttigieg said there were misconceptions in society about Mt Druitt.
“It is a strong area – it always has been,” he said.
The suburb was equally popular among homeowners and investors, because of the large blocks, he said.
Blacktown City Council’s new Local Environmental Plan, approved by the state government last week, shows Mt Druitt will be one of four development hubs, along with Rooty Hill, Blacktown CBD and Seven Hills.