Housing tip is buy in Bella Vista

IF you plan to buy property this year, put Bella Vista high on your list.

The suburb was named the 26th fastest-growing suburb nationally in the Real Estate Investar report for December 1, 2012 — for four-bedroom houses, that is.

"There was a 7.3 per cent improvement in price over the 12-month period," Tim McKibbon, the chief executive of the Real Estate Institute of NSW, said.

"I think there will be steady growth in 2013, but I don't think it will be sharp.

"I think the green shoots I'm predicting are actually visible in the data I'm seeing here."

He would not be drawn into commenting on how fast Bella Vista had grown.

He said the institute only collected data on the number of houses and units sold, not the number sold with a certain bedroom count.

He said during the quarter ended September 2012, 95 houses were sold in Bella Vista. The median sale price was $912,000.

The value of the properties had risen by 4.23 per cent compared to the June quarter.

"In this market I think that is strong growth," Mr McKibbon said.

The Investar report put the median listing price of four-bedroom houses in Bella Vista at $954,500, worked out "using live on the market sales listing data".

The value of the dwellings had changed by 17.28 per cent in a year, the report stated.

Investar also listed Cherrybrook in the top 50 — for rental yield (as at November 1, 2012).

There, a landlord could expect to collect $300 rent, on average, for a studio/one-bedroom unit, the report stated.

The median listing price for the property was $155,000. Mr McKibbon said 26 units were sold in Cherrybrook in the quarter to September 2012.

FAST FACTS

3 the number of times most people inspect a property, spending approximately 20 to 30 minutes at each inspection

5 kilometres the average distance most people move from their current address

every 7 years how often people change their address

MEET YOUR NEIGHBOUR

Bella Vistians are:

■ 34 (as at 2006)

■ earning a median weekly household income of $2196

■ making a monthly loan repayment of $2167

■ from India (if they were born overseas)

■ parents (51 % of you in The Hills council area have children)

There are 7338 of you.

Cherrybrookans are:

■ 38 (as at 2006)

■ earning a median weekly household income of $1857

■ making a monthly loan repayment of $2000

■ from Hong Kong (if they were born overseas)

■ parents (44% of you in the Hornsby council area have children)

There are 17,695 of you.

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