Location, location location.
The majority of homes listed in the Domain Group’s Top Selling Illawarra Properties of 2016 are prime waterfront locations, including a ‘70s brown brick cliff-top house in Wombarra which sold for $3.5 million.
The simple four-bedroom, two-bathroom home may not be spectacular, but the 4780 square metre block was sold with potential for a four lot subdivision.
Featuring a number of times throughout the list were luxury apartments at the newly completed “Esplanade” towers overlooking Wollongong Harbour at 72-74 Cliff Road.
Unit 10 sold for $2.775million units 3 and 33 for $2.6million each.
“It’s always about the location,” said Trever Molenaar, chairman of the Real Estate Institute Illawarra.
He said while high end properties asking big dollars were sometimes harder to achieve, a beach frontage would always ask big money.
Ray White Kiama principal selling agent Michele Lay agreed saying Kiama prices have soared in the past year and was confident the market would stay strong for high end properties.
Two newly completed triple-storey homes, side by side, sold by Ms Lay collectively for $5.17million earlier last year.
“I don’t think it’s going to cool off yet, I’ve been working all Christmas and new year right through, it still seems to be extremely buoyant,” Ms Lay said.
Though not all highly priced properties in the top 10 were water front with some set on vast acreage or secluded locations with luxe fittings and amenities.
At the back of Thirroul at 14 Sylvan Way sits a five-bedroom, four-bathroom home with tennis court and pool, on 5306 square metres.
Mr Molenaar said it was not uncommon to find these hidden gems about.
“Especially when the escarpment is so close to us,” he said.
“In a lot of times you’ll see up the back of a quiet road a gate; having done this for long enough you see these properties that never hit the market.”
Top 10 selling homes*
- 6/72-74 Cliff Rd, Wollongong, $2.45m
- 24A Avondale Rd, Avondale, $2.45m
- 161 Lawrence Hargrave Dr, Austinmer, $2.525m
- 4A Barney St, Kiama, $2.57m
- 4B Barney St, Kiama, $2.6m
- 3/72-74 Cliff Rd, Wollongong, $2.6m
- 33/72-74 Cliff Rd, Wollongong, $2.6m
- 14 Sylvan Wy, Thirroul, $2.6m
- 10/72-74 Cliff Rd, Wollongong, $2.775m
- 545 Lawrence Hargrave Dr, Wombarra, $3.5m
*The results contain property sales information provided under licence from the Department of Finance and Services, Land and Property Information. In addition, results are based on agents’ reported data collected by the Domain Group.