5 Parkhill Parade, Waratah West NSW 2298
5 Parkhill Parade, Waratah West NSW 2298
3 bed | 858m² block | 70% owner-occupied street | sells in 17 days
The property’s primary advantage is its land size. At 858 square metres, it offers significantly more space than the nearby 626-square-metre comparable, which is valued above a million dollars. This suggests strong underlying land value and potential for future development or subdivision, depending on council zoning. The street profile is favourable, with 70% owner-occupiers indicating stable, long-term neighbours and lower turnover risk. Waratah West’s rapid 17-day average sale time for three-bedroom houses confirms strong demand, meaning the property should attract interest quickly. It is best suited to a buyer seeking land banking, a family home with generous outdoor space, or a renovation project in a well-located suburb with good school access.
The main risk is the building itself. With only 80.8 square metres of floor area on a large block, the house is relatively small, and the unverified condition means a thorough building and pest inspection is essential. The 2019 sale price is not disclosed, so establishing current market value requires careful comparison with recent sales of similar-sized blocks. The absence of flood, bushfire, or heritage overlays is a positive, but buyers should confirm any development restrictions with the council. The opportunity lies in the land-to-building ratio, which could allow for a significant extension or a new dwelling, potentially unlocking substantial equity growth.
Detailed Independent Property Report prepared by PropCred Analyst team for 5 Parkhill Parade, Waratah West NSW 2298
Checks found:
Value Risk
!
1
Liquidity Risk
!
1
Planning Risk
!
1
Income Risk
✓
Execution Risk
✓
Market Insight
Waratah West is an established, relatively affordable suburb with a young demographic driving demand, attracted by its convenient location and access to amenities. The market has demonstrated strong recent capital growth, with houses selling briskly, indicating sustained buyer interest. Future growth is underpinned by consistent long-term performance, though limited unit supply presents a key constraint to broader market activity.
PropCred Estimated Value
Bedrooms
3
Bathroom
2
Parking
2
Land
858m²
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