The first open for inspection at a new build in Oatley saw 150 groups through, signalling strong movement in the market.
The development, at 104 Gungah Bay Road Oatley, is a new brand new development built to appeal to families wanting to buy into Oatley.
The new owners of Ray White Oatley said the high level of interest is not surprising given recent trends emerging in marketplace.
“In the last few months we have seen a significant increase in prices for land in Oatley, with a mixture of developers and home builders fighting it out.
“Recently, a 697m² block of land at 31 Lloyd Street, Oatley was bought by a couple looking to build their dream home. They paid $1.415 million for the land alone.
“We believe people are happy to pay these extraordinary prices because of the lifestyle that Oatley offers,” Matt O’Shea, the new selling principal of Ray White Oatley said.
The property at 104 Gungah Bay Road features five bedrooms, four bathrooms and open-plan living.
“This residence offers low-maintenance, luxury living and is perfect for extended families given the size and privacy of the home.
“The amount of early interest only reinforces our view that the Oatley market remains very strong and we expect to see competitive bidding at the auction on 14 June,” Matt said.
With sale prices in the area on the rise, Matt believes the residence could sell for more than $1.6m.
“Comparable sales in the area tell us that a price above $1.6 million is achievable and judging by the interest over the weekend, the market agrees,” Matt explains.
An onsite auction will be held at 104 Gungah Bay Road, Oatley on Saturday, 14 June 2014.
