A beachfront property at Austinmer with a $3 million price tag is set to be auctioned next month.
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The five-bedroom, three-bathroom home is at 14 Yuruga Street, Austinmer.
Selling agent, Kane Downie of One Agency Downie and Denison Pender said the current owners of the classic Federation beach house are moving overseas.
“It’s one of those iconic properties that a lot of people have always wondered about," he said.
“It’s just stunning inside… It’s a very well put together property, nice layout, and it’s got the added advantage of having self-contained accommodation with its own private access.
“I think over the past couple of years we’ve had quite a number of properties along that oceanfront that have (previously) been tightly held finally come on the market. It’s sparked a lot of interest along there.”
Mr Downie said potential buyers both from within the Illawarra and beyond had expressed interest.
“The inquiry on this has been the highest number of hits we’ve had of any property in a while,” he said.
“It’s ready to move into… It would suit a couple right through to a family.”
The private master bedroom has an ensuite, cathedral ceiling and feature windows, as well as a sliding door opening onto a balcony overlooking the yard.
The home opens onto the shores of Little Austi Beach, and is located just minutes from the village and the Headlands Hotel.
It is being auctioned on Saturday, February 17.
Stamp duty concerns
Housing Industry Association senior economist Shane Garrett says stamp duty bills have increased almost three times faster than house prices since the 1980s, and this trend will continue unless stamp duty is reformed.
This result is from the latest HIA Stamp Duty Watch report.
“In Victoria, the typical stamp duty bill increased from 1.9 per cent to 5.2 per cent of the median dwelling price between 1982 and 2017 – equivalent to a surge of 4000 per cent in the cash value of stamp duty,” he said.
“NSW homebuyers fared little better with the stamp duty burden rising from 1.6 per cent to 3.8 per cent over the same period.
“Increases in home prices cause stamp duty bills to accelerate because stamp duty rate brackets are rarely updated… In NSW, stamp duty rates have not been reformed since the average house price was $70,000 (1985)."
He said state governments are compounding the housing affordability crisis.
“A long plan to do away with the scourge of stamp duty would be a huge victory for housing affordability in this country.”
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