Pittwater Life January 2023 Issue

Hot Property
Hot Property
Price records to head north as
grand properties hit the market
Northern Beaches
residential price records
were smashed last year
when a raft of desirable topend
‘trophy homes’ found
new owners.
LJ Hooker Palm Beach office
reported new Beaches highs
of $27.5 million in June with
the sale of a “weekender” at
167 Pacific Road Palm Beach,
while a Whale Beach record
price of $14,125,000 was
secured for a five-bedroom
oceanfront home at 17a Malo
Road.
Industry sources say the
rising tide of record-breaking
house sales will continue into
the New Year with several
grand properties set to raise
things to a whole new level.
Take for example the
designer mansion currently
under construction on the
Whale Beach clifftop which
has reportedly found a buyer
for close to $30 million;
“Australia’s most beautiful
beach house” – the sevenbedroom
‘Bellona’ at 35
Ocean Road Palm Beach –
which has price expectations
of $40 million; and the showstopping
home ‘Celeste’ on
Stokes Point with hopes of
around $50 million.
And at the time of going to
print, there were whispers a
luxury beachfront residence
on Iluka Road overlooking
Pittwater was snapped up off
market for around $40 million.
PRIZED: The outlook from luxury Palm Beach home ‘Bellona’.
Cunninghams’
Collaroy push
Building on its expansion
to Avalon Beach in 2021,
Cunninghams Northern
Beaches has cemented a base
at the gateway to Pittwater
– involving a merger with
the former team of 20-years
location specialists LJ Hooker
Collaroy.
Managing Director John
Cunningham said the merger
included Principal Andrew
Strong and his team, experts
at servicing the Dee Why to
Narrabeen region.
“Cunninghams are one
team, four offices, and one
business group so this is
a huge value add for our
new clients who will now
have access to an extensive
client database, as well as a
large team of non-competing
sales agents who also have
broad client networks.”
Currently, Cunninghams sells
close to one in nine homes
along the beaches, from
Manly to Palm Beach and out
to the Forest region.
Established in 1991,
Cunninghams now has a
team of 80+ employees
working across four locations
from Avalon Beach, Manly,
Balgowlah and now Collaroy.
Rent bidding
illegal in NSW
Renters frustrated at feeling
they have to “up the ante” in
their quest to secure rental
properties have received
a boost with the NSW
Government outlawing the
practice of rent bidding to
improve affordability amid
high cost-of-living pressures.
Premier Dominic Perrottet
said its ban on rent bidding
would help prospective
tenants secure housing in a
tight rental property market.
“The search for a rental
property is tough enough
without it turning into a
bidding war that pushes
people beyond their comfort
level,” he said. “An advertised
rental fee should be just that.”
The new regulations came
into effect for all new listings
on 17 December.
Advice for renters is
available on the NSW Fair
Trading website.
First Home Buyer
Choice policy
NSW first home buyers will
have the option to swap
stamp duty for an ongoing
annual property tax payment
from January 16 after the NSW
Government passed the ‘First
Home Buyer Choice’ policy
last November.
Holiday rentals:
what a bargain!
From Pittwater Life January
1998: “For those of you who
are interested in these things,
the top holiday rental this
year was $6,500 a week for a
six-week rental at Palm Beach
through Ray White Real Estate
at Palmy, to an executive
of Kerry Packer’s. Well, that
should help pay the iniquitous
Bob Carr land tax on the
property.” – Lisa Offord
40 JANUARY 2023
The Local Voice Since 1991