RAY WHITE Prestige Palm Beach has just exchanged on $23 million worth of prestige property in the last 10 days as Sydnersiders flock to the lifestyle hot spot in their droves.
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49 Beaconsfield Street, Newport[/caption]
Ray White Palm Beach (NSW) Principal Noel Nicholson said the popular weekender location was in hot demand during the COVID-19 pandemic.
“My home at Palm Beach overlooks the ocean and at night I can see a huge increase in the number of houses with their lights on,” Mr Nicholson said. “Occupancy has tripled from the normal 25 per cent of weekenders with people coming back to live in their holiday homes to work from home or escape the city. And why wouldn’t they?
“Palm Beach has long been the place Sydneysiders go when they are looking to get out of the city. The virus has made people realise that things can change quickly, and their priorities change and a lot of people crave a beach lifestyle. While others might have been cooped up in the city, we could walk, swim, surf, fish and otherwise enjoy life. Prices are good, down a touch, but while the stock market has taken a tumble, bricks and mortar are always seen as a safe haven. “I look at property as a commodity and right now we have a huge lack of supply. So if people see something they like they will grab it.”
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49 Beaconsfield Street, Newport[/caption]
Mr Nicholson has just sold the grand waterfront estate at 49 Beaconsfield Street, Newport after only eight days online.
The seven-bedroom mansion - a former retreat for Catholic nuns built in the 1930s - with three-car garage, private beach and jetty was marketed by Mr Nicholson with a guide of $9m to $10m.
The estate called Melody Lane which spans a 2973sqm parcel, with a 76m beachfront and a private jetty attracted interest from locals in Sydney plus buyers in Singapore, London and New York.
Other recent sales include a local property consortium who sold 3 Iluka Road Palm Beach for $3,450,000, while 1155 Barrenjoey Road, Palm Beach sold for $3,925,000, 111 Bynya Road, Palm Beach sold for $2,900,000 and 2 Captain Hunter Road, Bayview sold for $3,750,000.
