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Ray Hadley's former property. Ray Hadley's former property. Featured
18 January 2022 Posted by 

$9M FOR FORMER HADLEY HOME

Coast property prices skyrocket
DALLAS SHERRINGAM
HOUSING records continue to skyrocket on the Central Coast as several suburbs reach the magic $2m median mark for the first time in 2022.

Many suburbs are now above $1m median with average prices in pick spots like Terrigal, Avoca, North Avoca and Pearl Beach heading for the $2m mark.

Houses in Tascott, Woy Woy, Umina Beach and Lisarow in the Gosford area now have a $1m median, as well as those in Tumbi Umbi, Bateau Bay, Chittaway Point and Ourimbah.

The number of million-dollar suburbs more than doubled to 116 in regional NSW, boosted by many Newcastle suburbs joining the club.

House prices in regional areas by the coast have almost doubled during the past two years to become even more expensive than some nearby capital city markets.

In late 2019, beachside homes with backyards on the Central Coast, mid north coast, pockets of the Sunshine Coast and Victoria's Mornington Peninsula had median prices under $600,000.

But now houses in these areas are typically sell for more than $1m as record-low interest rates and more people working from home spurs demand for real estate in areas offering a good lifestyle.

CoreLogic research director Tim Lawless said buyers were moving to coastal areas as more bosses allowed their staff to avoid the office.

'Coastal markets in both metro and regional locations have recorded some of the highest growth rates in housing values across the nation as demand for properties that provide a mixture of lifestyle benefits and affordability continues to surge,' he said in a media statement.

'With flexible working policies starting to be formalised by many businesses, especially for desk-based workers, it's likely that demand for housing across Australia's coastal, hinterland and lifestyle markets more broadly will remain higher than prior to Covid.

'However, the affordability advantage that makes many of these areas attractive is rapidly being eroded as prices rise so quickly.'

As recently as September 2019, Chittaway Bay had a median house price of $552,090 but this has jumped to $893,152 following a 35.6% annual increase, CoreLogic data showed.

Woy Woy has seen a similar increase, with a median house price of $564,977 just two years ago growing to $962,358 in October 2021, with values soaring by 33.5% during the past year.

House prices on the Coast surged by 35.4% to $954,330 in the past year, making it one of Australia's hottest markets.

In terms of million dollar newcomers, houses in North Avoca are deemed Sydney region’s strongest newcomer with a median value now at $1,466,568 (up from $991,507 a year ago)

Even the far north is booming with a home in Sunrise Avenue, Budgewoi sold for a street record $.155m.

When it comes to ultimate records, two sales of $7m each in Avoca were topped by a beachside home one owned by radio star Ray Hadley at Toowoon Bay.

The 2GB host's former Toowoon Bay Road home sold for $9m just before Christmas, which is a new record for the region.

The luxurious property was sold by Belle Property Central Coast principal Cathy Baker, who said the beach house was one of the best she'd seen so far on the coast.

'It has to be one of the best beachfront homes on the east coast. It's private and sheltered. Even the beach is protected and the bay is great for snorkeling, paddling and swimming,' Ms Baker said.

Mr Hadley sold the property in 2016 for $3.275m.

The retreat has three separate levels, four ensuite bedrooms, five bathrooms and a private double garage.

Vast decks cover all four sides of the home, and there is also a heated plunge pool and poolside cabana.

The previous price record for the area before Hadley's former retreat was sold in December was an $8m sale of a house in Pearl Beach earlier last year.

Toowoon Bay itself includes a mix of Sydneysiders visiting on holidays and young families who move to the area to enjoy a laid back coastal lifestyle.

During the past 12 months, Ms Baker said the area had seen a lot of multimillion-dollar developments underway along the waterfront.

Brian Whiteman and The Agency team have also been breaking records all along the Coast:

$2m for home in Bias Av, Toowoon Bay, a street record.

$2m Bloomfield St Long Jetty, a street record.

Westside of Bateau Bay, a new area record of $1.425m.

$3.08m Kalakau Av, Forresters Beach, which was $508,000 above reserve.

$1.165m Shelley Beach Road, Long Jetty.

$1.83m Padstone St, Bateau Bay, a street record by $680,000.

$1.7m for house in Sandra Pl Terrigal, breaking the street record by $486,000.

$1.95m for home in Henry Parkes Dr, street record.

$2.760m set a new Shelly Beach record in Liddell St.

 



editor

Publisher
Michael Walls
michael@accessnews.com.au
0407 783 413

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