North Avoca property has been on the rise lately

Posted on 22 February 2010

Remarkably over the last 3 years across North Avoca, Terrigal & Avoca Beach more houses were sold in 2009 than the prior 2 years and 2010 is shaping up to be in very hot pursuit.

High levels of real quality enquiry, positive media and interest rates remaining low, have kept the phones ringing hot and properties in these areas are in very high demand.

Early to mid 2009 opened up terrific opportunities for buyers able to take advantage of uncertain market conditions and secure homes in these areas at lower prices than we have seen in the past. Sales in the later part of 2009 and early 2010 are indicating a marked increase in values with substantially greater buyer confidence.

North Avoca, Terrigal and Avoca Beach each offer a unique combination of choices catering to a full range of lifestyle buyers – from first home purchasers through to high end investors many with a locale very close to beaches and lakes and some with stunning views. There doesn’t seem to be any MOST active segment with very recent sales from as low as $400,000 and multiple buyers fighting it out at the $1.7 million range. Christmas trading seemed to encourage many high end purchasers to enter back into the property arena.

Though only early days, 2010 is seeing average prices are generally recovering from any losses sustained in the previous 2 years and while Avoca Beach has adjusted downwards by 6.1% to $815,000 average, both North Avoca & Terrigal have increased, with North Avoca average house prices being up 1.2% to approx $871,000 and Terrigal house prices being up 17.5% to approx $590,000.

For my money North Avoca’s charm of being a destination suburb, with only a low number of holiday rentals, will always continue to keep it in great stead, noise and Traffic is almost non-existent in North Avoca. It’s 2 mins to Terrigal and more importunately 2 mins out and that’s why the savvy people seem to take the place to their heart.

The mix of old to new is on a major swing; with the old being replaced on what seems to be daily basis.

My advice to people truly considering selling is get a contract prepared and get listed as soon as possible. Choose your best local agent – the buyers are there out NOW.

The weather is good – Interest rates are still low and the press is talking it up. We are currently achieving sensational results – especially for homes that are presented well. If you need outside help to present your home in a stunning fashion, your agent should be able to help, it seems to be paying great returns at the negotiation end of the sale with over the market sale prices.

For buyers, I would say: Beg, Borrow, maybe not steal, but do what you can to get into the market NOW and then just hang on and enjoy the ride.

CURRENT LISTINGS IN THE AREA

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Michael Clayton
ZINC Property
Ph: 02 43859998 Mob 0402 776 464
email: michael@zincproperty.com



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