Illawarra prestige market remains stable: HTW residential

Illawarra prestige market remains stable: HTW residential
Staff reporterDecember 7, 2020

The top end of the market in the Illawarra has seen usual market activity throughout 2019, according to the latest Herron Todd White (HTW) residential report. 

The report notes whilst there has been lower demand than during the peak period in previous years, the top end hasn’t been quite as dramatic as the sub-$1 million properties.

High end sales include dwellings for $4.1 million in Wombarra, $3.2 million and $3.8 million in Bulli and a rural residential property just out of Berry for $5.4 million.

A Wollongong unit at 2/68 Cliff Road (pictured below) sold for $3,225,000.

Illawarra prestige market remains stable: HTW residential

"One of the more extraordinary sales in 2019 was a $2.7 million property in Dapto," the valuation firm noted. 

The house at 46-48 Carlyle Close (pictured below) was built in 2018 and is approximately 475 square metres in size, featuring six bedrooms and three bathrooms all on 2,974 square metres of land.

The home site is elevated and has district and escarpment views and the grounds are extensively landscaped and retained with self-irrigating gardens, a wet-edge pool with spa and garaging for six cars.

Illawarra prestige market remains stable: HTW residential

"By far a record price in Dapto, it is not expected that there would be any more expensive properties in this area let alone any that have hit the market recently," the valuation firm commented. 

Top-end properties vary depending on their type however most have a high quality level of fitout, substantial size and a significant view.

Vast ancillary improvements need to complement the dwelling itself. These highlights show that there has been decent trading in the upper bracket.

Buyers have still been willing to pay a decent price if they are getting something unique and special.

A search of for properties in the region currently for sale over $4 million lists a number of development sites along with a penthouse with rooftop pool and private lift in Gerringong, an ocean front house on a double block in Bulli and two rural residential properties in Kangaroo Valley.

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