A rare 2ha property in Terrigal fetched the highest sale price on the Central Coast last week, according to Core Logic RP Data.
Sydney investors purchased the unique acreage at 261 Terrigal Drive for $1.8 million which was a record price for a rural property on the main road.
Tightly held in the same family for almost three decades and bursting with potential, selling agent Jason Easton, of Property Central, said the property could be subdivided into two lots, or more if council decided to rezone the area in the future.
“If and when this happens the windfall will be massive for the lucky owner,” Mr Easton said.
In the meantime, the new owners plan to rent out the existing four-bedroom house and eventually knock it down and rebuild.
The centrally-located near the coastal hub of Terrigal, the lush acreage was only on the market for about two weeks and in that time attracted about 40 group inspections.
Interested parties were from a mix of local, Sydney and overseas buyers, along with multiple offers.
Historical charmer finally sells
A RESTORED 100-year-old farmhouse known as “Jilliby Park” in Alison sold to a local family after being listed on and off the market for almost three years.
Central Coast Select Properties agent Peter Elliott sold 138 Hue Hue Rd for $1.2 million after attracting about four groups through each open house since its most recent listing date back in December.
The 6.3ha property includes a beautifully renovated four-bedroom homestead with loft, 1.2ha of natural bushland and a 33-year-old established garden full of mature fruit trees and a vegie patch.
Rents continue to rise
The Central Coast rent rate continues to show one of the strongest growths in the country, according to latest figures.
Core Logic RP Data’s Quarterly Rent Review revealed local house rents have jumped by 7.7 per cent over the 12 months to March 2015 — 5.1 per cent ahead of the national rate.
For rent: 12 Lakeview Pde, Umina Beach is available for rent for $400 per week through Ray White Umina Beach.
The average rent for units in our region is also showing significant growth at 4.3 per cent for the same period.
In comparison, rents for inner city apartments in Sydney have risen by 4.5 per cent, while the national rent rate for units has climbed by just 1.3 per cent.
For rent: Raine & Horne Terrigal-Avoca Beach has just listed 2/106 Avoca Drive, Avoca Beach, for rent at $702 per week.
During the first quarter of 2015, Central Coast house rents were also ahead of the national average at 2.4 per cent and 1.3 per cent respectively.
From country to coast
A FAMILY from Narrabri in northwest NSW snapped up a beautifully presented home in Ourimbah within hours of the first open house.
Stephen Rinaldo, of One Agency, listed 2 Finlay Cres for offers of more than $595,000 and received multiple offers from several parties on the first official day of being listed for sale.
In the end, the out-of-area family made the strongest offer of $661,500 and they can now look forward to relocating to the Central Coast to be closer to the beach.
By CLARE GRAHAM