Winter starts at Palmie with 40 plus unsold weekender offerings

Winter starts at Palmie with 40 plus unsold weekender offerings
Winter starts at Palmie with 40 plus unsold weekender offerings

As the sun sets on the extended summer selling season in pricey Palm Beach, plenty of would be sellers now face the chill winds of winter.

The Melbourne based model Megan Gale headlines the vendors who just haven't been able to secure a summer sale.

Her hilltop northern beaches getaway has gone buyerless for some 220 plus days, that's double the 110 typical days on market average.

And when she does sell her five bedroom occasional retreat there won't been much profit as it cost her $3.2 million in 2006.

Her consistent asking price has been $3.5 million, with local LJH agent Peter Robinson called in to help her initial agent Stephanie Hammond find the buyer.

Investment banker Paul Espie is another who is struggling to sell his 1920s Palm Beach weekender, Craboon.

He listed the home in October, slightly earlier than Gale but with pricier $6.5 million hopes.

The now remodelled classic stone cottage was bought by Espie and wife Ros for $2.45 million in 2004

Paul and Megan certainly have some competition, with CoreLogic RP Data showing around 44 houses currently for sale in Palm Beach.

The newly appointed Telstra group executive Kevin Russell has emerged as a buyer at Bilgola, so is the latest to list his hilltop Palm Beach property.

Russell's four bedroom Palm beach home was bought for $2.02 million in 2012 when he was with Optus.

Set on a larger 923 sqm, the beach house style home has numerous balconies with views over Pittwater.

It's been listed with $3 million hopes through James Baker of Raine & Horne Palm Beach.

He's bought at Bilgola from BT investment funds manager Andy Fay paying $3.625 million for a 625 sqm spot on the Serpentine.

Previously novelist Thomas Keneally's home, the tri-level beachfront sanctuary surrounded by lush tropical gardens has five bedrooms and four bedrooms.

This article was first published in the Saturday Daily Telegraph. 

Property market Residential Sales

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