A three-level luxury home said to boast one of the best views on the NSW South Coast has sold after just two weeks on the market, indicating resilience to market flux in Wollongong’s northern suburbs.
Perched high on one of Austinmer’s most elevated streets, it was no surprise that 5 Hillcrest Road in Austinmer was snapped up so quickly, according to the selling agent, Knight Frank’s Nathan Berlyn.
“We’re talking about some of if not the best views on the South Coast, with expansive, uninterrupted water views right up and down the coast on one side and views of the escarpment on the other,” he said.
The property first hit the market last year but failed to sell.
But after the latest campaign, Wollongong’s Mortgage Success founders and owners Katrina and John Rowlands, who owned the property for more than two decades, were “ecstatic” that the property sold in line with the guide of $4 million.
According to Mr Berlyn, this placed it as the suburb’s third biggest sale on record, with an absolute waterfront property that fetched “not much more”, in first place.
He said it was a matter of finding the right price point and the right buyer.
“There is always demand for properties at the upper end of the market, but at that price point, you’re competing with waterfront properties. However, some buyers want the views without being right on the water,” he said.
“This incredible home was always going to sell to a select buyer. Through the marketing and timing, going live this time of year, we gave it the best opportunity to find that buyer.
“When compared to the rest of the market, if you want a decent home in Austinmer without water views you’re looking at spending upwards of $2 million, so for a home of this calibre it’s also great for the buyer.”
The 305 square metre Austinmer house sits on a 626 square metre block and has been designed across three levels, with a multitude of living and entertaining spaces, a four-car garage and a two-bedroom self-contained apartment incorporated into the floorplan.
The upper level, which has the kitchen and butler’s pantry and master suite, is the highlight of the home, boasting soaring pitched ceilings with exposed beams, stunning timber flooring, open plan living and expansive picture windows, revealing uninterrupted panoramic views of the ocean and coastline.
The two-bedroom self-contained apartment is on the middle level and features a full kitchen and butler’s pantry, a modern bathroom and stunning 180-degree ocean views via an enclosed balcony.
The lower level features another large versatile space with a bathroom, fourth bedroom, and expansive deck for quality entertaining.
The four-bedroom, three-bathroom home was purchased by a private buyer looking for a sea change, moving from a farm in Menangle around 40 minutes northwest of Austinmer in the Macarthur Region.
“For the buyer, this home ticked all the boxes. They were looking for a sea change, and the amazing panoramic ocean views provided by this home offered premium coastal living and made them fall in love with it,” he said.
“With a child finishing their HSCs, they were also drawn to the multiple living spaces in the home, including the self-contained level.
“Coming from 25 acres – which is a full-time job to maintain – here they can enjoy a premium lifestyle but with low maintenance external areas of the home, which allows for more of a ‘lock up and leave’ approach.”
Nathan said while the premium end of the market is less affected by factors that impact the market – such as interest rates – the Illawarra was particularly resilient.
“I’ve worked in the Sutherland Shire for years, and when I compare markets, I see this market as being stronger across all the various price points. Things like interest rates haven’t had the same impact on the housing market here. People want to live here because it offers family-friendly coastal living, an hour outside of Sydney at the north end,” he said.
“For this property, I was fielding enquiries from a combination of local and Sydney-based buyers. For those from Sydney who want to make the sea change but also want easy access to the highway, you can’t really beat this area.”