Hyams Beach property sells for $4.8m, sets new record

The ever popular Hyams Beach continues to attract admirers, and the property market is proving to be no exception.

A waterfront property set a new record for the world famous seaside village, when it sold for a cool $4.8 million prior to auction, according to allhomes.com.au.

The 1372 square metre parcel of land, boasts two residence at 72 Cyrus Street, with seven bedrooms, five bathrooms and double garage. 

The property was sold by agent, Geoff Keighran of JB Beach Houses, who said the vendor and buyer came to an agreement after the property had been on the market for about three weeks.

“I knew it was going to be above four million, so it wasn’t a total surprise, but it was very good,” he said.

Mr Keighran said there had been a lot of interest in the property.

“It’s a one off, which is why it created the record,” he said.

“There was a lot of interest from overseas, the vast majority were Australian buyers living and working overseas, it became obvious there was large group of people waiting for something to pop up in that strip.

“There was a sale last year which was a renovated home on a smaller block with access to the beach, but not as good views.

“The blocks to the left and right get smaller, but this one out on the headland has very good views.”

Mr Keighran said there were “a few disappointed people about”, who missed out on the sale.

“There’s been properties sold, but not on that stretch of the beach,” he said.

“You actually own right to the sand. unlike other areas like Collingwood Beach, which is why they have their own access.

“It’s just that strip where that is available and I don’t believe you can get that anywhere else in the Shoalhaven.”

The purchaser, whose name has not been disclosed at this time, was familiar with the area.

“At this stage they haven’t decided if they will live in it,” Mr Keighran said.

“In the short term it will be used as their holiday home, but that may change down the track.

“At the moment they have other commitments with business.”

The property previously changed hands for $450,000 in 1995, by private treaty.

“It will be a long time before something comes up again in that strip, knowing the people living in those homes, they tend to pass them down through the family,” Mr Keighran said. 

“The previous owner had a very strong emotional attachment to the house, it was a tough decision for her to make.”

The previous record for Hyams Beach was set in September 2017, when 94 Cyrus Street sold for $3.5 million.

That sale came a decade after the previous record, which was set in 2007, when 80 Cyrus Street sold for $3.44 million.

The median property price in Hyams Beach for 2017 was $975,000 with 11 sales, as opposed to this year, the median is already at $1.728,500 for four sales.