Long Jetty secures NSW cheapest auction result
Sydney’s most affordable house to sell at auction was in Long Jetty on the Central Coast, 100 km north of the CBD, for $385,000.
Figures released by APM noted that the 1960s-built three-bedroom house at 50 Stella Street sold through LJ Hooker The Entrance.
The large, level site of 676 square metres is a short stroll to the beach and other local amenities. According to RP Data, it last traded in 1990 for $90,000.
Figures on the database shows the median house price for Long Jetty in August was $473,000, which is up on the same time last year when it was $420,000.
Capital growth was more than 8% in 2013 for the area while the Median Rent was $380 a week. This would reflect a yield of more than 5% for an investor.
A house on a sub-divided block of 338 square metres at 71/17A Stella Street exchanged earlier this year for $410,000.
The record price for the street is $565,000, which was paid last year for a three-bedroom house on 613 square metres at 115 Stella Street.