While the property market in the city looks like it is finally pausing for breath, the record prices continue on the South Coast, with a three-bedroom Mossy Point home recently selling for $3.35 million.
Sitting in one of the best locations in Mossy Point with beautiful views over the Mossy Point Reserve, the Tomakin Rivermouth, Burri Point and the ocean, 201 Annetts Parade at Mossy Point attracted plenty of interest from buyers.
Built in the late 1970s to early 1980s, the home was listed for sale in December and scheduled for auction this month. However, a determined local buyer put in a pre-auction offer to secure the home, setting a new suburb record in the process.
The previous record of $3.26 million was set in November 2021 with the sale of a four-bedroom home on the same street.
“We had a lot of interest in this property and the vendor was prepared to sell prior to auction,” Ray White Batemans Bay agent Melissa Williams said.
The family home, set on a 765 square metre block with a waterfront reserve boundary, features an open plan living and dining area with high ceilings, offering plenty of space and light, as well as three generously sized bedrooms, plus a downstairs rumpus room with extra bathroom and plenty of storage.
“This is a very neat and tidy home, and while it is in need of an update in some areas, it has great bone structure and it is in one of the best locations in Mossy Point. The views are to die for,” Melissa said.
“The south coast market has definitely shifted. People are more willing to step up to pay for properties in a special location.
“We are also seeing local buyers step in to secure these types of properties. They know what they want.”
The median sales price of houses in the area is $950,000, according to CoreLogic. The five highest sale prices for Mossy Point are all held by homes on Annetts Parade.
Ms Williams predicts prices in the area will continue to creep up.
“People are saying they will wait before they buy, but I am not sure what they are waiting for.
“I have worked in this market for 16 years and I have always thought it was undervalued.
“Ten years ago you would be lucky to see three or four people at an open house and properties would typically take six months or more to sell. Not anymore. People are seeing how special it is here. The ‘cheap and cheerful’ tag is gone.
“People are starting to see the value in a coastal home lifestyle, particularly with the normalising of working from home due to the pandemic.
“Anyone who is looking to buy property on the coast needs to understand there are no more bargains. They need to be prepared and have their finance approved for when their special property comes up.”