The popularity of the Illawarra’s northern suburbs continues, with the recent sale of a beachside home at Coledale reaching the $2.5 million mark.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Selling agent, Belle Property Wollongong principal Darren Kay said the four-bedroom home at 775 Lawrence Hargrave Drive, Coledale recently sold prior to auction for $2.51 million to a Sydney buyer.
Mr Kay said the home provides “ample living spaces, not only internally but externally as well, with ocean and beach views from various areas of the home”.
According to Australian Property Monitors, the home previously sold in 2014 for $1,685,000.
Features include five terrace, balcony and courtyard venues over dual levels; open-plan family living/dining area; gourmet gas kitchen displaying stone benchtops; master quarters with designer ensuite, walk-through robe and terrace; and double garaging.
“The house was pretty much as it was three years ago, and there's a lot of gentrification coming down into the northern suburbs now,” Mr Kay said.
“So what may seem expensive from a local perspective probably feels like great value for the buyers from southern Sydney and Sydney.”
Mr Kay said the Illawarra market appeared to remain quite healthy.
“I think the top end of the market is still very strong,” he told the Mercury.
“There hasn't been a lot of stock to choose from, so when it comes along it’s holding its own, purely because of a lack of choice.
“I don’t see that changing throughout 2018.”
However, he believed there was a degree of “normalising” occurring within the market overall.
“I think Sydney and Melbourne are so far ahead of the other states that they'll be playing catch-up, rather than Sydney going forward in leaps and bounds.
“So it’ll probably just normalise there and the other states might catch up a little next year.
“But I don't think interest rate rises will... There might be one or two next year, but it's doing nothing but normalising the market, which is giving buyers a bit more time to think."
‘Sports mad family’s dream home’ sold
Meanwhile, a property dubbed a “sports mad family’s dream home” sold earlier this month.
The home at 31A Foley Street, Gwynneville sold for $1.285 million.
Agent, Colliers International Wollongong’s senior executive of residential Neil Webster described it as a “sports lovers’ paradise” and a “sports mad family’s dream home”.
The over-sized family home backs on to Beaton Park Leisure Centre, City of Wollongong Tennis Club and the Snakepit.
Mr Webster said the home was “sold to a local family who are upsizing”.
Mr Webster said the huge five-bedroom family home afforded considerable space and flexibility.
He said with four oversized bedrooms upstairs, as well as an office, gym and guest bedroom with separate access, the home could comfortably accommodate large families.
