The Tony Abbott effect? Raine & Horne agent attributes Northern Beaches sale to likely Coalition election victory

Raine & Horne Manly principle Toby Hutton has attributed the private treaty sale of a six-bedroom Northern Beaches family home for $1.715 million in part to expectations that the Coalition will win the federal election in September.

The house is in Liberal Party heartland and only a short drive from Tony Abbott's own home in Forestville and his federal electorate of Warringah.

The property in a cul-de-sac at 10 Scarborough Place was built in 1995, stands on a 901 square metre site and includes a saltwater pool and spa plus landscaped gardens and manicured lawns.

It sold to a Clontarf owner-occupier after failing to sell at auction in May with expectations of $1.6 million plus.

Hutton said he attributes local buyer confidence to the prospect of a "couple of terms of a federal Coalition government after 14th September".

“Unlike other real estate markets and business sectors, political instability is not affecting the Peninsula.

“Our region is traditionally blue ribbon Liberal, so the prospect of long-term stability after the difficulties of a minority government over the last three years, is a prospect many homeowners and businesses are already savouring in our region.”

Abbott is the federal member for Warringah, just three kilometres east of Beacon Hill.

He lives five kilometres west of Beacon Hill in Forestville

Hutton says the property attracted a steady stream of genuine enquiries over the three weeks it was on the market.

“This is a significant difference to 18 months ago, when it was possible to go two weeks without fielding an enquiry for prestige homes such as these,” he says.

Apart from an expected Coalition victory, Hutton also attributes increased buyer confidence to improving economic news from the likes of the United States, coupled to stronger share market returns over the last year or so.

“The sharemarket has had a pretty good twelve months, despite the latest volatility, and this has translated to bonuses being paid to investment bankers and portfolio managers, and this money is starting to find its way into prestige homes in our region,” he says.