NSW Cherrybrook - what's up?

Discussion in 'Where to Buy' started by standtall, 7th Jun, 2018.

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  1. standtall

    standtall Well-Known Member

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    In the middle of all the doom and gloom surrounding Sydney, Cherrybrook seems to have picked up some unlikely recent momentum.

    14 houses have been sold in last 14 days with some at or above last year peak prices. I went to a few opens last weekend and this sudden frenzy of house sales has created some decent interest - with up to 30 groups visiting remaining houses on the market.

    New train station having an impact? None of other Hills suburbs around the new metro seem to be doing that well. West Pennant Hills probably had less than 14 sales in last 3 months if not more.

    Am I missing something here?
     
  2. Gockie

    Gockie Fully vaxxed Premium Member

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    I hadn't been following Cherrybrook that closely but if it's the truth I suspect good high school (with a famous Maths head teacher), new train line and nice neighbourhood all make it quite a desirable location?
     
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  3. RedHat

    RedHat Well-Known Member

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    Partly because there hasn't been lot of stock hitting the market which raises competition and thus price
     
  4. Tattler

    Tattler Well-Known Member

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    I think it is got to do with the new 100 point check to enrol kids to Cherrybrook Tech High School:

    http://cths.nsw.edu.au/wp-content/uploads/100-Points-Residential-Proof-Checklist_updatedNov2017-.pdf

    Enrolling

    It is now much tougher to enrol into CTHS, as private rental agreements is only worth 5 points. Rental agreement must be 12 months long to get 50 points, or if 6 months long then only 30 points, with the right to review continued enrolment by the Principal. So it stops people signing up a lease, then enrol the kids and then do a runner on the lease.

    I only know this because my friend told me about it a couple of months ago. So it probably forces people to actually buy the property or sign a long term lease, rather than "renting a letterbox".
     
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  5. CJS

    CJS Member

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    Initial forms to apply to the school (including the proof of residency stuff) had to be in this week; you might be onto something!
     
  6. Gockie

    Gockie Fully vaxxed Premium Member

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    My sister and her family have a story about them in the Cherrybrook magazine!
     

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  7. Someguy

    Someguy Well-Known Member

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    Should be good news for investors in the area more likely to get long term tenants and not have the risk of a 6 month enrol and leave type. But I'm sure there are loopholes to get in, maybe get your children legally adopted by someone in the area!?
     
  8. diksy

    diksy Well-Known Member

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    i thought that was always the case? Or is it newish thing?
     
  9. Simon L

    Simon L Well-Known Member Business Member

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    I always wonder if there is a business case, perhaps an ongoing fee, for a local resident to "rent out" their address to families who want to get into the school but are not in the catchment area. ;)
     
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  10. Tattler

    Tattler Well-Known Member

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    This is pretty new. Before this, points were not assigned and a lot of people have "private rental treaties" set up. So this system is a lot fairer.

    Yes business case has always been there for "secondary incomes" .... Not that I have ever done it though.