A Wombarra beachside home has sold for $3.02 million, making it one of the highest residential sales on record for the Illawarra’s northern suburbs.
The sale of the four-bedroom home at 32 Haig Street is one of only a few house sales in the past decade which have broken the $3 million barrier in the 2515 postcode.
The home, set on a total land area of around 1,187 square metres, was sold by Trever Molenaar and Kristine Morgan of McGrath - Thirroul.
Mr Molenaar said the property was highly desirable because it was set at the end of a cul-de-sac, in an elevated position with never to be built out views.
‘‘This house is in a really small cul-de-sac and it’s on a bit of a peninsula, or outcrop, which means it’s further forward than the other houses,’’ he said.
‘‘Haig Street has been known in real estate as the millionaire mile and now it’s exceeded that.
‘‘This top end sale shows there is a lot of strength and confidence in the market.’’
Mr Molenaar said the property had the potential to add value by renovating or registering the current DA approval for a two lot subdivision.
There was an option to divide into two residential blocks of 554 square metres and 618 square metres.
The existing home was in its original condition with spacious bedrooms, timber floors and two living rooms.
Mr Molenaar said there were a number of registered bidders at last weekend’s auction. The sale occurred after lengthy post-auction negotiations.
‘‘Eleven contracts were issued and we had thousands of inquiries on this property during the marketing campaign,’’ he said.