With a Wagstaffe property recently selling for more than $13.5M, luxury homes on the Coast are attracting ever-increasing prices as the pandemic property boom continues.
Prestige property specialist Cathy Baker, principal of Belle Property Central Coast, said 2022 will see many premium properties top the $10M mark.
Baker said the Agave property at 6 Bulkara St, Wagstaffe, sold above expectations, making it the most expensive home on the Central Coast.
A property at 18 North Avoca Pde, North Avoca, will be on the market in coming weeks and Baker expects it to top $13M and break a suburb record.
“It is an extraordinary time for the prestige property market on the Central Coast,” she said.
“Between the improved access (with) NorthConnex and the flexible work arrangements off the back of the pandemic, the Coast has become a sought-after sea change for many Sydneysiders.
“Investors and lifestyle buyers alike are seeing the benefits of investing in high-end homes.
“They can enjoy the lucrative holiday home returns on offer and the impressive capital growth, as well as the chance to spend time out of the city while flexible work arrangements allow a lifestyle change.
“While there is increasing talk of a shift in the property market in the future, we’re still experiencing unprecedented market conditions across the luxury market due to the pandemic – premium properties are performing at an all-time high.
“With international borders opening and potential interest rate changes looming, these unique conditions won’t last forever.”
Baker is known for her expertise in the luxury market, having set many benchmark sales across the region, with five record results to her name.
In December, 2021, she sold a Toowoon Bay property for more than $9M, setting a beachfront record for the Coast.
She said pricing luxury home pricing on the Coast was now on par with Northern Beaches suburbs including Palm Beach, Whale Beach, Avalon and Bilgola Beach.
Also coming onto the market in coming weeks will be 5 Bulkara St, Wagstaffe, with a sale expected to exceed $10M.
Source:
Media release, Feb 18
Belle Property Central Coast
