Constitution hill shows hot growth as house prices rise almost 20 per cent

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DUNDAS VALLEY and Constitution Hill’s housing markets are the latest rising stars of the Parramatta region.

The greater Parramatta market is generally trending upwards, despite house prices declining slightly now $10,000 shy of last months $1 million median, according to the latest statistics from CoreLogic RP Data.

But the standout suburbs in the area boasting double-digit value growth are Constitution Hill, Dundas Valley, Dundas and Ermington.

While the value of detached houses in Constitution Hill jumped by 19.8 per cent the highest growth in the Parramatta area unit prices dropped by a surprising 10.3 per cent.

The nine-year-old suburb has a tightly held market, with only 27 houses being sold in the past 12 months for a median price of $900,000. There were even fewer unit sales, adding up to the grand total of 11.

In Dundas Valley, 85 houses were traded in the past 12 months for a median price of $1.09 million. Only 13 units have changed hands for a whopping median of $878,000.

Dundas Valley performed the best in the Parramatta region when considering both dwelling types, with house prices seeing a 17.2 per cent boost and 10.4 per cent for units.

In neighbouring suburb Dundas, 51 houses have sold for a median price of $1.1 million, while 40 units were exchanged for a median of $680,000. Value growth was strong in both houses, up 15.8 per cent, and units, up 5.6 per cent.

Ermington has seen the most active housing market in the area, recording 135 house sales and 42 unit sales in the past 12 months.

House prices in the suburb jumped by 15.8 per cent to the current median of $1.175 million, the most expensive detached housing market in the region, while unit values increased by 1.9 per cent to an impressive $814,000.