Mangerton has been described as a high growth area that’s also “minutes to convenience”.
Among Belle Property Wollongong principal Darren Kay’s current listings is 11-13 Meares Avenue, Mangerton.
It is being auctioned on Friday night (March 2).
“It’s on a double block; it’s one title, two lots – the total of the two sites is 1397sqm,” Mr Kay said.
Mr Kay said the feedback had suggested a price guide of $1.5 million to $1.55 million.
It features four bedrooms, and offers the possibility to buy to restore to its former glory, to sub-divide and on-sell, or to redevelop to make full use of the land (subject to council approval).
He said most of the interest in the property has been local, particularly from those working in the medical field looking to be within close proximity to the private and public hospitals.
“Obviously Mangerton offers great convenience to infrastructure, and you’re a short drive to the beach and Wollongong CBD,” he said.
“And you’ve got good schools within walking distance as well.”
Mr Kay described it as a “tranquil, leafy, quiet suburb, yet it’s minutes to convenience”.
“Properties within Mangerton over the years, where traditionally a million dollars was a barrier, there are now properties selling in Mangerton for $2 million and $3 million. It’s certainly a high growth area, due to the close proximity to infrastructure and schooling.”
According to the Domain Group, the median price for a four-bedroom house in Mangerton is $930,000, with 17 sold this year.
Domain Group demographics report that the average age of residents is 40 to 59, with 48 per cent families and 52 per cent singles.
Also, 34 per cent of residents fully own their own home, 33 per cent have a mortgage and 33 per cent are renting.
Among Nathan Haynes from Brailey Figtree First National’s current listings is a three-bedroom open plan townhouse at 1/3 Powell Street. It has an asking price of $595,000 to $645,000.
Mr Haynes said there had been plenty of interest in the property from the first home buyer market.
“It seems to sit in that price bracket where it’s affordable for them and they can still get the stamp duty exemption,” he said. “It’s in a cul-de-sac and is very sought after for a lot of people. There’s only eight in the block and this one is right at the front.
“This is for someone that wants to be in that exclusive suburb, but it’s affordable, so it can be a stepping stone for them… And eventually they can get into a bigger home if they start a family.”
Mr Haynes said a “lot of the established families” liked Mangerton, but this townhouse wasn’t really suited to that demographic.
“This particular property is reaching the first home buyer but also the investor market, where they’re still getting a property in the 2500 postcode and it’s still close enough to public transport, schools and your motorway entry and access point.
“It’s a tightly held suburb; when something comes up there, people are interested.”
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