We are trying to understand why are the house and land, land(only) prices in Riverstone still cheaper and many available compared to the new area of land release like Box Hill?
Riverstone has a lot of existing housing commission areas, especially near the train stations. It has a "reputation", as per link below: Rivo Memes Box Hill is like a blank sheet of paper with new houses. People prefer this, as well as being at Hills Shire Councils, sounds more upmarket.
Riverstone is probably the worst looking suburb in the whole of sydney - infested with crime and full of housing commission. They had to relocate the QH police station to Riverstone as most of the crime in Hills area originates from Riverstone. It would take years before area is cleaned and gentrified. Box Hill is right next to mega rich suburbs like Kenthurst and has an easy access to upper hills private schools like Hills Grammar.
When was the last time you went there? It has been cleaned up a fair bit. Old houses are knocked down and rebuilt. Farms are gone and are new subdivisions. Give it 3 yrs and it'll look the same as all surrounding suburbs.. I'd still buy in riverstone over Box Hill.. in between two train lines as well as having a complete redevelopment of the new town centre and much easier access to jobs and highways. All the subdivisions in Box Hill are towards Nelson, and its just way too far.
In terms of more land, it's because it was rezoned for subdivision earlier than Box Hill. Also developers are seeing more value in Riverstone over Box Hill. Riverstone h&l will connect right up to Cudgegong essentially and theres plenty of land there.. there's also gonna be a change of name for the new suburbs being created there. Schools, shops etc all exist there. The side across the train station is all a flood zone though and will probably never get rezoned or will take a long time
Just drove past this morning. I wonder why there's so much heavy vehicles traffic around the train crossing? I don't disagree with its potential and it's priced very reasonably at the moment. Having said that, suburbs like Rivertone will be hit hard if sydney slows down. The argument that it's just across the road from Box Hill doesn't cut it for me either as sydney market is heavily influenced by suburb perception rather than location (example: Glenwood median under a million, across the road Bella Vista/new Kellyville developments have just block prices over a million now).
Riverstone is former home to the old abattoirs which closed down leaving the former isolated town very isolated for decades and has a reputation for fibro homes and a certain social set. (Is there a dentist in Rivo ?) Its old and needs a demo. Hard to demo a town unless you build an airport. Its also Blacktown City. Its also a flood prone spot and why the current earthworks have massive stormwater works. A major flood hasnt tested that area through to the Hawkesbury for a long long time and will be proven one day whether its enough. Rivo land areas and Vineyard were once sold to mugs as swamp land you cant build on and council refused for decades to release it. That problem dogged it and why some shanty homes exist. All keeping the values down. Box Hill has a rural acreage to it (or it did). It is less flood prone (other than the flat areas along Windsor Rd being developed now which flod through to Pitt Town !!) and has high land along Boundary rd to Pitt Town Rd. (The old stock route AKA The Flood Route) The prices for land between Windsor Rd and Richmond Rd (Blacktown Council) is getting massive earthworks for the flood issues and is far cheaper as some land there is really small...250m2 !! The Gables is minimum 450m2 and costs a bit more. Larger lots are available in Box Hill also. 750-2000m2. Its a good case of the right side or the wrong side of the tracks.
This is the details of the proposed dividing suburbs of Schofields, Riverstone, Marsden Park into smaller suburbs and proposed names: Naming of new suburbs in Blacktown City | Your Say Blacktown I just hated it and cannot see the point of dividing the suburbs, when we still have huge suburbs like Kellyville and Castle Hill .....
