Sydney buyer drives up price of Coalcliff house to eyewatering $4.7 million

The property is located at 26 Paterson Road, Coalcliff.

This four-bedroom home, set on 560sqm is positioned on the southern end of Coalcliff Beach.

It sold at auction on the weekend.

According to Pricefinder, the sale was a record price for a residential property at Coalcliff.

Selling agent, Mattias Samuelsson from Ray White Helensburgh said it was a record sale for a residential property in the northern suburbs, and potentially a record price for the Illawarra.

Mr Samuelsson said the buyer was from Sydney, and was likely planning to use it as a weekender.

"There's only really a handful of true beachfront properties on this coastline," Mr Samuelsson said.

Read more: 'You could stare at it all day': Energy-efficient South Coast home with impressive views up for sale

"In the current market those are the properties that are seeing the biggest increases in demand - those premium properties, the properties with something truly special about them."

Previous owner, Sydney resident Richard Hugo-Hamman bought the beachfront property three years ago as a weekender.

LEAP Legal Software executive chairman Mr Hugo-Hamman bought the property from ex-Premier Investments CEO Mark McInnes.

Mr Hugo-Hamman recently told the Mercury he was selling the property for "COVID-related" reasons.

"My son and his family live in Brisbane, and I've got a two-year-old grand-daughter who I've only seen for one day in her life because of COVID," he said.

"So what I've decided to do is to buy a place on the Mid-North Coast so we can drive up, they can drive down and I can actually get to see them."

Mr Hugo-Hamman said among the property's best features was its location, including proximity to the ocean. He said it would ideal for "someone who loves the ocean, wildlife and water sport".

"You've got a beach, ocean, a creek, a forest, a tidal pool, all within 50, 100 metres," he told the Mercury.

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