Pittwater Life November 2020 Issue

Hot Property
Hot Property
Keen out-of-area buyers,
low stock driving up prices
This Spring, the number
of properties for sale
in Pittwater is far lower
than normal but demand is super
high, leading to some very
quick sales and street records.
Agents have been welcoming
up to 60 parties at open
houses, are holding extra
open inspections and have
been seeing buyers who are
checking out the upper northern
beaches for the first time.
A quick survey of Realestate.
com.au shows that in the busy
selling season there are only 14
houses for sale in Mona Vale,
10 in North Narrabeen and in
Bilgola Plateau, which would
normally see around 15 properties
on the market, there are
just two homes selling.
Reasons for the low volume
include older sellers deferring
coming to market in COVID-19
conditions and younger homeowners
deciding to renovate
rather than upgrade thanks to
low interest rates compared
to changeover costs. For the
average stamp duty and legals
payments of $150,000, families
can extend and renovate
their existing home – and
many are choosing to do so.
Next pocket to pop
One example of high demand
leading to a high price is
in a small pocket of North
Narrabeen next to a popular
holiday park. This low-lying
area including Collins Street,
Road has been sometimes
overlooked by locals but
out-of-area buyers are seeing
value, a pocket close to the
B-Line bus, Narrabeen Lagoon
and the beach.
Joshua Perry, of Belle Property
Dee Why, sold 17 Darius
Ave for $2.111.111 to an eastern
suburbs buyer who loved the
position. The four-bedroom
house with pool and granny
flat originally had a guide of
$1.7 million but that was raised
to $1.8 million after 65 buyers
turned up at the first open
house. The previous record for
the street was $1.6 million.
“This is a forgotten pocket
but only two minutes to the
beach and I believe it is the
next area to pop,” Perry said.
Street record in
four days
Meanwhile a four-bedroom
house at 17a Loombah Street,
Bilgola Plateau sold in four
days in October setting a new
street record by more than
$500,000. Adrian Venturi, of
McGrath Pittwater, said he
had seven offers (below), six
from out-of-area buyers, and
it sold in the mid-$2 millions.
The previous street record was
$2.02 million.
“In 14 years I have never
seen stock levels so low and
we are seeing so many buyers
at a Saturday open house we
are now opening on a Wednesday
as numbers were getting
out of control,” he said.
He added that Pittwater was
becoming more attractive to
Sydneysiders thanks to NBN,
the B-Line bus service to the
city and the hope of the Northern
Beaches Tunnel.
“They are realising life on
the upper northern beaches
is pretty cool, you can work
from home, surf, enjoy the
parks, live on a big block of
land and the largest distance
to the ocean is one kilometre,”
he said.
Whale of a sale
Out-of-area buyers have
swooped on an old cottage
100m from the sand at Whale
Beach, paying more than the
$4.4 million guide before it
could get to auction.
Number 214 Whale Beach Rd
had been held for six decades
and consisted of three bedrooms
on a 753sqm block one
house away from the beach.
Noel Nicholson, of Ray White
Prestige, said the market was
incredibly strong, driven by
low stock levels and new buyer
groups entering the market.
“We’re also seeing a greater
interest from affluent outof-area
buyers (mostly North
Shore and Eastern Suburbs)
who due to the limitations of
domestic travel and the new
reality of working from home
are placing a premium on
lifestyle,” he said.
Whale Beach Beauty
A rare fresh listing for Whale
Beach is a brand-new architect-designed
home with due
north aspect that has just
come to market with a $5.3
million guide and a November
11 auction date.
Number 24 Beauty Dr (main
photo) has only just been
completed and comprises four
bedrooms, three bathrooms
and four-car garaging on
830sqm of land in a private
cul-de-sac and it has close and
wide beach and ocean views
plus an infinity pool and spa.
Peter Robinson, of LJ
Hooker Palm Beach, describes
it as the epitome of Whale
Beach living.
Features include several
outdoor entertaining areas,
one with a sunken firepit and
another upstairs with television
and barbecue zone. Inside
there is a Tassie oak ceiling,
vast bifold glass doors to the
views, a top-of-the-line induction
and pyrolytic kitchen,
zoned air-conditioning and
underfloor heating.
Berry Avenue and Lake Park
– Kathryn Welling
40 NOVEMBER 2020
The Local Voice Since 1991