NSW Schofields NSW

Hi,

I went to a market research gig last night and the topic was around OTP units/ townhouses in the Scofields area. Pretty much they wanted to know our thoughts and ideas on what may interest potential buyers on the size, price, configuration of the property, facilities and general thoughts on the possibility buying in the area. Found out at the end of the research that the developer was Stockland.

Just wanted to know people's thoughts about the area. I thought Scofields suffered abit from flooding and my concern is whether the roads can handle the additional traffic.

Disclaimer: I am not taking any kickbacks or advocating on behalf of the developer!

 

Shhhh! The details of those market research thingies is secret & sacred. So is the $100 cash incentive

 

Average 55 mins from Townhall Station to Schofields. Not too bad.
Established houses going for mid 600s.
Established townhouses average mid 500s.
Median prices for houses according to RE is $837,000 and median rent is $520.

I don't know if there's further growth in that area as prices in that region moved a lot.

 

I agree with Larry's comments. Scofields was part of boom. So was riverstone which next best suburb.

A lot of people have already purchased in boom phase who were priced out in the nearby suburbs.

Having said that, a reasonable priced product will get a good popularity considering a train station and shopping plaza but one has to be aware of the new developments that will come up with time.

Apartments, a big no. Same price people can get apartments near parramatta and hills region.

Regards

 

Schofields location is quite good as it has a railway station on the Richmond Line. The end of the line for the North West Rail Link is at Cudgegong Road. Anything located in close proximity (10 minutes walk) to either railway station will do well.

It is quite obvious ( to me anyway ) that eventually the NWRL will be extended via Schofields in a loop down to Badgerys Creek.

I have also posted in other threads, links to early planning for infrastructure corridors in the area heading south from approximately Rouse Hill down via Schofields / Riverstone through St Marys and on to Badgerys Creek. There are also large employment areas going in at Marsden Park. Ikea and Costco locate themselves where there is population and hence anticpating the growth in the North West.

 

I bought my PPOR (established house) in Jan last year based on some of the factors mentioned by @wombat777. Add Norwest business park & potential ripple effect from surrounding expensive suburbs to the list. I have seen houses being snapped up very quickly since I moved in. House that is one block away from mine was snapped up in the first open late last year. A town centre & Coles store has been proposed but last I heard was that Woolworths & adjoining property owner have raised concerns on that development and has been on kept hold. Not sure of the latest status. Having said that, a lot of infra spending has been happening in the area.

Things have slowed down a bit but I still have agents knocking my door every now and then asking if I have any plans to sell citing buyer demand.

I'm seeing lot of young families in the area esp in last few months probably due to the new builds in Alex Avenue being occupied.

Only concern atm would be the heaps of supply that's gonna come onto the market in next couple of years.

 

That, is always a concern.

 

I think it's had its run for the time being. Adjoining suburb...The Ponds has been identified as one the biggest potential 'mortgage stress' suburbs when rates start to turn..when ever that will be.
I live very close by and have done for the past 20y.

 

Hi @Shady

Can you please let me know where you got this info about The Ponds.

I live the suburb and was thinking if the values would come down. I am yet to see that though.

 

@AndrewTDP should be able to chime in...I recall he mentioned on another forum (hey id, I'm on PF too) that some people at The Ponds are so desperate to get the design and landscape rebate or risk missing their mortgage repayment.

 

I remember in the very early 90's living in Quakers Hill (We lived on Barnier Drive, number 28, the street finished a few houses up from us then it was just fields all the way to Sunnyholt Road, I used to cycle through them to Sevo (Seven Hills) high school , Schoies (Schofields) was a REALLY cheap area, all around there was, Rivo (Riverstone), Marsden Park, all of it.

We "almost" bought in the Ponds, a brand new place back in 2009 but the bank said it was way overvalued and refused to lend, we ended up finding our townhouse in Northmead for less money and the bank agreed with it's value. We were extremely lucky to get in where we are for travel and location reasons.

 

We are neighbours as I like in Baulko. Hoping to stay in the area but I think my next move is down to Kings Langley

 

Nice, Howdy neighbor . So nice to see someone boganise suburbs like I do (Baulko) . The missus gets annoyed with me but its all in good fun .

My next move will be up to the Gold Coast but we are talking 10-15 years from now (or whenever the next Sydney boom happens).

 

For me, I would love to move/ retire down to Tasmania or NZ

 

Schofields and Riverstone have always been considered "lesser" suburbs than the adjoining "newer" areas of Quakers Hill, Stanhope, Parklea, Kellyville Ridge etc. Not as many facilities, older homes (though this is rapidly changing and will continue to do so with the current estate building) and genuine flooding issues (make sure you download the BCC maps before buying http://maps.blacktown.nsw.gov.au/ and click on Flooding Precincts on Layers mapping).

That's not to say there wouldn't be future cg here, however I do think the focus on the Syd metro line (running from Cudgegong to Epping line) is stronger and, with more established infrastructure and fewer flooding issues, as well as more choice for schooling and other facilities (shopping etc).

If you have a budget of mid $600K's for housing (and of course this is only my personal opinion) I believe that nearby more established surrounding suburbs like QH and Kings Park etc represent better value.

 

I have an IP (3/2/1 house) at Schofields. One of those new ones at Alex Ave. It is not subject to flooding.

The Stockland ones are on the other side of the train line, and is closer to the Eastern Creek, and can be prone to flooding, even though the Blacktown BCP states that all redeveloped land should have tolerance for once per 100 year floods.

Once it is fully developed, the areas around Schofields station would be very nice. The problem is that it is not fully developed yet. There is a Woolies and BWS. Coles was supposed to develop there already but hasn't. So right now it doesn't looked as nice.

RMS is widening and extending Schofields Road right now all the way to Marsden Park now. Sooner or later when that is finished, there will be a lot of new houses and people moving in. The Schofields Road should be able to handle all those extra traffic.

So Schofields will be rapidly changing to be a much nicer suburb, even though historically, it is considered "lesser" than other Hills Districts. It just take time.

Marsden Park will eventually be developed to be a major employment region. There are ample of land set aside for it. The government already secured corridor land for NWRL train to extend to Marsden Park:

http://www.dailytelegraph.com.au/ne...ugh-marsden-park/story-fngr8i1f-1226926622773

Even if NWRL doesn't get extended, it ends at Cudgegong Road, which is next to Schofields anyway. So anyone living in Schofields can just have a 5 minutes drive to Cudgegong Road station for NWRL train to employment centres like Macquarie Park, Chatswood, Norwest etc. Or the residents can just catch the current train at Schofields to Parramatta or City etc (which a lot of The Ponds or Kellyville Ridge resident do right now).

So Schofields will be a very nice suburb, but it will take time.

Would I buy an apartment or townhouse there (which Stockland suggests in the research)? No way unless the price is very low. The prices of apartments (especially OTPs) at Hills district has shocked me greatly. I see 2 bedroom apartments selling for like mid-high 6s at Cudgegong Road station, or 2 bedder at Schofields for mid 5s.

 

I grew up as a farm boy in Schofields. The government compulsory acquired my parents farm in recent years for the NRWL project.
I assisted parents in the matter and would know every details of whats going on, that was then.

Flooding isn't a concern in Schofields ( or Riverstone) for the new urban marked precinct for housing. There were alot of planning involved so that flood prone areas are either zoned as drainage, sport oval, open space etc.

Quakers Hill was one fully developed probably going back 25-30 years ago, then the Stanhope, Kellyville followed in the last 10-15 years.
Last decade (or more ) the government identified 16 precinct that will be marked for urban development. These mainly Box Hill, Schofields, Riverstone, Rouse Hill and parts of Kellyville, QH etc

The first batch of this 16 precincts were released in June 2006. The released to rezoning took average about 5 years, however the servicing part took longer. In some case it took well over 10 years and developer walked away on some of the precincts that simply didn't have servicing ready.

The Barry O Farrel government came in an announced fast tracking for development and servicing. The release to rezoning became 2-3 years average. Servicing came at faster rate and rest is history.

 

Thanks @RetireRich101 quick search shows a H and L on lot measuring 480sqm goes for more than 1 million!

 

Hi Jacque - what do you think of Marayong?

Are there any good and bad parts to Quakers Hill?

 

Should of asked this question 3 years ago. Would have minted!