Waterfront pad fetches $3.4m at Sydney auction

A riverfront home in Sydney’s Inner West has been purchased for $3,400,000 as more and more buyers opt for waterfront properties while travel restrictions stop overseas movements.

After all, if you can’t venture abroad for a tropical getaway, why not bring the holiday to your home?

That is the thought process among many buyers in the current climate, with properties that boast water views and boating accommodation commanding sizeable price tags.

In fact, the three-bedroom property at 11 Rosemeadow Drive sold at auction on the weekend for considerably more than a much larger property on the same street achieved just a few weeks ago.

Simon Furnari of Belle Property helped facilitate the sale of the Cabarita home. He tells OzHomeNews that buyers have been queueing up for houses of a similar ilk.

“Waterfront properties at the moment have increased in value as people start looking for a bit more of a lifestyle change rather than spending their money on overseas trips like they normally would,” he says.

Despite having a tough time parting ways with his cherished home, the vendor was ecstatic with the final sale price.

“It’s been really well maintained and it was very hard for the vendor to let it go – he’s been there for 16 years,” Simon explains.

“It’s one of the few homes on that street to have a marina berth and the owner had done some work on the property internally to open up the lounge and dining areas to really make the most of the fantastic waterfront view.

“Considering that a larger four-bedroom property sold a few weeks prior for $3.05m, they were absolutely over the moon that their three-bed home on a smaller block achieved a substantial amount more,” he added.

After receiving interest from local and out-of-town buyers, the home eventually went to a purchaser from a neighbouring suburb.

“It was purchased by Strathfield buyers who were on our database,” Simon says. “Introducing a waterfront property to clients that have no water in their suburbs was a great marketing tool and it helped in getting people more interested in the place.”

Address

11 Rosemeadow Drive, Cabarita, NSW 2137

Agents

Simon Furnari – 0411 142 046
Norman So – 0410 523 868
Belle Property Strathfield

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