CCBR Business Review

19 R E S I D E N T I A L P R O P E R T Y R E P O R T THE CENTRAL COAST has been highlighted as one of the places to watch in 2021, with Realestate. recently reporting huge demand for suburbs in the region. Online searches for listings in Glenning Valley, Saratoga, Kariong and Wamberal were reported to have more than doubled over 2020. Realestate’ s chief economist Nerida Consibee’s opinion was that buyer priorities are shifting towards lifestyle and space, with the pandemic the likely catalyst for the change. This information comes as no surprise, with local agents and experts having described a thriving property market throughout last year, and experts like Hotspotting’s Terry Ryder now tipping a nationwide “boom” going into 2021. All good news for the Central Coast, and according to the Realestate report, Glenning Valley saw the biggest increase in buyer demand, with a whopping 317 per cent increase. Agent’s Alyce Lewis and Hayley Bastin from Ray White Coast Edge attributed much of the Glenning Valley interest to land sales in a new estate called The Glades. “It’s not easy to secure a block of land on the Central Coast these days, the demand has been phenomenal,” Ms Lewis said. “There are also some beautiful acreages that are popular with Sydney treechangers. People love the privacy on offer in Glenning Valley.” Since 2018, Ray White has been involved in the sale of around 150 blocks of land in The Glades estate. Ms Bastin said that around 70-80 percent of purchases were made by locals, with plenty of first home- buyers. Prices have increased over 30% since the first release. “The $25,000 home builder government grant attracted a lot of interested buyers hoping to build, with registered land now selling extremely quickly – we just don’t have enough land for the current demand” Ms Bastin said There are still approx. 100 blocks yet to sell within future stages, details will be released in the coming months. Annual increases in buyer interest for Saratoga was 209 per cent, Kariong 140 per cent and Wamberal was 139 per cent. The beaches seem to be the place for high-end buyers, with recent top sales all coming from seaside suburbs. The coastal erosion debacle in Wamberal did not deter one buyer from splashing cash on the beachfront. A property at 23B Ocean View Dr was sold in early January via Mat Steinwede and Jordan Bulmer of McGrath for a generous $4.1 million. Mr Bulmer said that the property was on a ‘low risk’ erosion section of the beach and that it had been DA approved for a privately built seawall. The buyer, a Sydney devel- oper, plans to follow through on an existing DA to build a three-storey home. Mr Steinwede and Mr Bulmer also recent- ly sold a Terrigal penthouse for a Central Coast apartment record. While the purchase price is unable to be disclosed, it is said to have sold close to the guide of $4.5-$5 mil- lion, snapped up by another Sydneysider. With 346sqm of internal space and 305sqm external, the penthouse is one of the big- gest in Terrigal and includes 180 degree ocean views. Mr Bulmer said that the buyer liked the location, set back from the main road, and the privacy of having his own lift. Unit 5, 15 Painters Lane, Terrigal Meanwhile a stunning Queenslander home in the tiny town of Spencer on the Hawkesbury River has recently achieved the second highest sale price ever in the suburb, selling to a Sydney couple for $1.205 million. Sold by Shaun Coffey and Scott Wall of Capital One, the elevated cottage at 4627 Wisemans Ferry Rd is surrounded in river views and includes multiple living areas, a rustic kitchen with butlers pantry, ducted air conditioning and a 6.6KW solar system. The sale price is only surpassed by Sentry Rock, the former resort home of Australian stockbroker Rene Rivken. Given that the Queenslander property is set on a 2043sqm block, while the monstrous estate stretches across 3.89 hectares, the two Spencer prop- erties are not really comparable. RMB 4627Wisemans Ferry Road, Spencer On the topic of Sentry Rock, the iconic property was sold late last year by Cullen Royle’s Deb Cullen and Trent Iverson of Harris Iverson Real Estate. Both agents declined to comment on the buyer identity or sale price, however the epic estate was marketed with a guide of $10m-$12m. Features include seven bedrooms, a cine- ma room, wine cellar, a manager’s quarters, a 20 metre man made waterfall and a World War II munitions barge used for mooring river boats. By Jess Verrender Top five disclosed sales on for January (to 20th) 231 Del Monte Place, Copacabana - $4.515m 23B Ocean View Dr, Wamberal - $4.1m 700 The Scenic Road, Macmasters Beach - $3.8m 29 View St, North Avoca - $3.6m 501/15 Kurrawyba Avenue, Terrigal - $3.3m Online suburb searches show skyrocketing demand for Central Coast property 23b Oceanview Drive, Wamberal CENTRAL COAST BUSINESS REVIEW FEBRUARY 2021