Demand continues to exceed supply in the always popular Shellharbour Village.
Among Mitchell James, director at MMJ Dapto’s current listings is 16 William Street.
The home, situated on a 645sqm block and zoned medium density residential, has a price guide of $800,000.
It is set to be auctioned on Saturday.
The home also features a large, fully-fenced in-ground pool.
“It’s an older fibro, two-bedroom cottage… It’s an irregular shaped block that tapers in at the back,” Mr James said.
“In that little pocket, even in that street there, not too much turns over property-wise. Once someone’s in there, they’re there for a long time.
“A lot of buyers are saying the same thing, that they’re trying to come into the village… (But) there is very limited property that comes up, certainly east of Addison Street anyway.”
Mr James suggested this listing would likely be a knockdown and rebuild, in accordance with others who have done so in nearby streets during recent times.
“You could comfortably live in it, but being two-bedroom doesn’t really suit that market down there. Most people have more kids and need that second living space at least to work with.”
In recent times, the village has faced new commercial challenges from the growing Stockland Shellharbour precinct and city centre, and will soon face stiff tourism competition when the nearby Shell Cove marina is completed.
However, Mr James expected there would be some “exciting development” in the village during the next few years.
“The main street’s getting a facelift, and there’s a couple of other properties there that I think will come up, older-style homes similar to this but on bigger blocks, where we’ll see more luxury townhouse development.”
Among Ray White Shellharbour Oak Flats Group principal Amanda Bonnici’s current listings is 4 Gardeners Crescent.
Ms Bonnici said the brand new complex, still under construction, featured five townhouses, starting from $1.1 million each.
“We have one under offer already; they’re all three bedrooms, double garage, two bathrooms,” she said.
“The majority of our inquiries have been from Sydney.
“We’ve found that the inquiry on it has picked up in the past week, because the Aqua Apartments, the waterfront apartments at the Shell Cove marina were released last Thursday and they all sold.
“So people who missed out there are showing interest.
“We’re finding that a lot of retirees are buying apartments, townhouse-style in the village from Sydney… They’re buying them and then they’re going to rent them out, holiday let them or just use as a holiday home until they eventually come down and retire.
“We just don’t have enough houses for sale in the village at the moment; everybody seems to be wanting to be in the village.”