A four-bedroom home in Orange Grove Road, Blackwall, owned by a long-standing Peninsula family, has sold for a record $3.7M at auction.
Principal of inStyle Real Estate Agents, Larry Altavilla, said the sale was evidence of the popularity of waterfront properties across the Central Coast.
“Traditionally the deep-water frontages get the higher end of the market but this time it was a waterfront reserve property,” Altavilla said.
“We cracked the record price by about half a million – the last property that sold along that part of Orange Grove Rd went for $3.2M and that was over 18 months ago,” he said.
“There is a bit of history behind that place because there used to be a tidal bath there in front of the house and people used to walk through the reserve to access the baths.
The four-bedroom home is on a 576 square metre lot.
The sales pitch described it as “boasting unsurpassed privacy and magical water views, this quintessential home with its warm and cosy ambience is set on the cusp of Orange Grove’s deep-water frontages.
“Oozing with charm, this 1930s cottage with its three metre ceilings and pitched roof basks in a prized northerly aspect.
“The well-considered, single-level layout with only two steps to enter, boasts natural circulation between the formal and casual living/dining areas.
“With large windows framing picturesque water/garden outlooks, the gourmet gas kitchen has stainless steel appliances and servery access to both the dining room and deck.
“There’s also a wine cellar, water tanks, quality fixtures and fittings throughout, ducted heating/cooling, two-car secure accommodation and ample off-street parking for visitors.”
Altavilla said the purchasers “absolutely fell in love with it.
“They were from Sydney, they loved the look and feel, they loved the location and the lifestyle the Peninsula has to offer.
“It was a long campaign because we were going through the COVID period and we were not getting many people during that COVID period showing any interest in it but then when lockdown started easing we finally got people coming through the doors and we got a buyer.”
As for trends in the broader Peninsula residential property market, Altavilla said he believed certain properties were getting more attention than others.
“The property market is showing various signs of a little correction but I think the waterfront properties are going to attain high levels of buyer interest,” he said.
“If I had another five or 10 waterfront properties right now they would all be sold, anywhere on the Peninsula or pretty much the Central Coast.”
He said the main buyers interested in the Peninsula were moving from acreages in north-western Sydney.
“They are downsizing, getting off their acreages and wanting a sea change and less maintenance.”
inStyle believes the Peninsula’s medium density market is still going well.
“They seem to be selling, I can’t see too much stock that is not selling currently in houses and apartments but, again, with signs of interest rates rising on the horizon I think there’s a going to be a correction.
In other words, according to Altavilla, if you’re thinking of selling and cashing in on recent price trends, don’t wait too long.