A property in Noraville has scored a record sale price for a three-bedroom home in the suburb.
47 Clark Rd, Noraville sold at the weekend for $1.025M, 10 per cent above the last sale of a three-bedroom on a similar block.
Purchased by a couple from Sydney who have joined the ranks of those working from home, the vendors, along with their two children, will head out in a caravan on a 12-month adventure around Australia.
Sat on a 721 m² block, the property is 500 metres from Toukley, which is enjoying something of a rejuvenation with several new cafes, shops and restaurants.
Despite being potentially 10 weeks out from the federal election, properties at the top end of the Coast continue to shift quickly.
10 Ullooloo Rd Gwandalan sold for $30,000 above guide at $780,000 after one open last Saturday (5 March), while 10 Lonsdale Cl Lake Haven, a three-bedroom home with 10metre inground pool sold at $880,000.
The latest Shore Financial State of Sydney report, which shows how property is shifting across Sydney, Greater Sydney and the Coast, has pinpointed five suburbs that have outperformed others in their categories over the last 12 months.
In the ‘Working Class’ category, it listed Summerland Point (2); Canton Beach (3); Noraville (4) and The Entrance (5).
The median purchase price for a property in Summerland Point climbed by $250,000 between February last year, and February 2022.
In the ‘Rising Sydney’ category, Wamberal came first after witnessing a median house price growth of $554K this year.
Coleman Real Estate Director, Registered Valuer and Sales Agent, Ron Coleman, said the market is showing no signs of slowing down, but relief for buyers may be on the way.
“The federal election should be announced in the next couple of weeks, and investors usually sit on their hands during the election period.
“This means buyers will have less competition, and a better chance at securing the property they have their heart set on.
“Interest rates are predicted to hike one or two times this year, but our market shows a lot of resilience,” he said.