A “quirky” Fairy Meadow property is expected to have considerable appeal for both investors and families.
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The home at 3 Fairy Avenue, Fairy Meadow is on the market for $899,000.
One of the selling agents, Nathan Haynes from Brailey Figtree First National said the home was “like walking into a Swiss snow chalet”.
“It’s got decorative timber cornices that make it look like it’s a chalet,” he said.
“When you walk into a ski chalet there’s all the exposed beams and it’s a lot of timber.
“Although this is all decorative, it gives that feel.”
The home features three bedrooms, plus a one-bedroom self-contained flat.
According to The Domain Group, the median price for a three-bedroom house in Fairy Meadow is $825,000, with 38 sold this year and spending an average of 43 days on the market.
The median price for a four-bedroom house in Fairy Meadow is $900,000, with 14 sold this year.
Mr Haynes said the self-contained flat afforded potential for additional income, or as accommodation for other family members.
“There’s multiple uses for the home,” he said.
“It’s unusual, it’s a bit quirky.
“It’s not for everyone; there’s not much grass there as everything has been concreted.”
Mr Haynes said one of the highlights was the outdoor covered entertaining area with wood-fired pizza oven and plenty of room.
“There’s a massive garage with mezzanine level as well as a massive games/poker room,” he said.
Mr Haynes said the original part of the home was built in the 1960’s.
“It’s been extended about 15 years ago… The flat, garage and rumpus room have been built later on,” he said.
“It’s tailored more to an investor, unless a family wants to have that dual living situation.
“Otherwise it has potential to rent; it’s in quite a central area there.”
Regional report
CoreLogic this week released their December quarter regional market update.
Of the regional areas analysed, Cameron Kusher, head of research Australia at CoreLogic said the largest annual increase in unit values was seen across the Illawarra region (12.8 per cent).
Mr Kusher said the regional markets analysed have, “for the most part seen quite strong increases in values, highlighting that demand for housing in these markets continues to grow as capital city markets have started to see values fall”.
According to the CoreLogic results, all three regions analysed across NSW experienced growth in home values over the year to December 2017. The largest of the increases was for houses across the Newcastle and Lake Macquarie region, with median house values increasing by 12.9 per cent.
“With capital city values generally slowing or falling over recent months it is reasonable to expect that this may lead to slower overall growth in regional markets too,” Mr Kusher said.
“Nevertheless, over the coming months we expect values to continue to rise in most regional markets and outperform their capital city counterparts.”