Shoalhaven house prices: the region’s unexpected sales

As property prices skyrocket on the south coast, some areas are seeing homes fetching well above their asking price. See what suburbs are on the move and where you can still grab a bargain.

As the median house prices sits above $1 million in some postcodes of the Shoalhaven, real estate agents are reporting homes selling well above asking price.

Data from CoreLogic shows house values were up 28 per cent in the southern Shoalhaven in the last 12 months.

CoreLogic Research Director Tim Lawless said the rate of growth in housing values in the region was “substantially higher than the five- and 10-year average rate of growth”.

“(the rate of growth is) demonstrating the surge in housing demand against a backdrop of limited supply,” he said.

Mr Lawless said the annual pace of growth in housing values remained under “consistent upwards pressure” as more people move out of the city and to regional areas like the south coast.

Here is some of the impressive property sale observations from real estate agents in the southern Shoalhaven region.

FISHERMANS PARADISE HOME GETS TOP DOLLAR

This Fishermans Paradise home attracted a sale price well above expectations.

Attracting a sale price well over the asking price, a Fishermans Paradise property could have been sold “within hours”, according to listing agent Lisa Cox, of LJ Hooker Ulladulla.

The Wattle Street three-bedroom home sold for $90,000 above expectations, with four interested buyers making offers on the property.

“It went up at twenty-to-five on Friday afternoon and I could have sold that on Saturday but we had four offers over the weekend and sold it $90,000 over asking by calling for interest buyers’ best offers by close of business on Monday,” Mrs Cox said.

“That was three days but I could have put it under contract in 12 hours.”

The home was well presented and had a single garage and one bathroom, Mrs Cox said.

ONE MILLION DOLLAR PRICE TAG FOR SMALL DWELLING

This small two-bedroom home in Bawley Point sold for $1.1 million after just days on the market.

A home in Bawley Point with no ocean views, and situated on the intersection of two main roads in the coastal hamlet, left residents in the town shocked and thinking about listing their own home for top dollar.

The small two bedroom home on Murramarang Road sold for $1.1 million after just days on the market.

Close to the beach but without water views, the home sits on a 824 square metre block but needs a lot of attention.

Listing agent Andrew Creech, from Ray White Ulladulla, described the suburb as “tightly held”, adding the property had “so many possibilities, whether it be to keep the home as it is or develop the site”.

LAND SALES HOT PROPERTY

Amaroo estate, near Narrawallee, sold quickly.

New land releases in the Amaroo estate near Narrawallee were hot property, with the final 20 blocks selling within seconds.

Listing 10 blocks each in April, Harcourts Ulladulla and LJ Hooker Ulladulla were forced to get buyers to email their best bids, checking the time stamps on emails down to the second.

A spokesman for LJ Hooker Ulladulla said they had “people out the front from 7am with a camp chair” to secure a block, despite bids not opening until noon.

The 167-lot estate was released in several stages, with all land releases snatched up quickly.

“The first three stages fully sold out prior to a formal marketing campaign,” the developer’s website states.

COULD THIS MOLLYMOOK HOME BE A RECORD BREAKER?

If this Mollymook home sells for the price guide of $6.5 million, it will break a sale record for the suburb. It will go under the hammer soon.

Set to break a suburb record, 15 Shipton Crescent in Mollymook is going under the hammer later this month with a buyer’s guide of $6.5 million.

Located on the southern side of Mollymook Beach, the four-bedroom home backs onto Collers Beach and is listed by Ben Pryde from Raine and Horne.

The home last sold in 2016 for $2.36 million, according to data from CoreLogic.

Nearby 10 Shipton Crescent was sold on September 17 by McGrath Ulladulla principal Andrea Tucker for $4.25 million.

The four-bedroom, three-bathroom home was described as having “dual-level layout boasting expansive, elevated views in a peaceful and private tree-lined setting”.

KINGS POINT LAND SALE A DOMINO EFFECT

This parcel of land in Kings Point had a lot of interested buyers, and was sold for a record price by Harcourts Ulladulla.

A block of land backing onto the lake at Kings Point sold well above expectation, with more than 160 inquiries received by listing agent Jemma Roach of Harcourts Ulladulla within 24 hours of listing the property online.

The 18 James Crescent block sold for $750,000 dollars, a suburb record for a vacant block.

“That was $200,000 above the biggest land sale in Kings Point,” Ms Roach said.

Ms Roach said following the sale, the owner of a neighbouring block of land decided to cash in and list their property as well.

“We ended up selling that block quickly as well to someone who missed out on the first block,” she said.

SMASHING PROPERTY PRICE EXPECTATIONS

26 Mitchell Parade in Mollymook Beach sold for $4.425 million in April.

Attracting a whopping $4.42 million, this Mollymook Beach home broke records for the suburb in April 2021.

With beach frontage, the four-bedroom, two-bathroom 26 Mitchell Parade home more than quadrupled its previous 2013 selling price of $1.1 million.

Sold by Ben Pryde from Raine and Horne Mollymook, the sale holds the suburb record by a million dollars.

It is trailed by another four-bedroom home on Mitchell Parade which sold in May for $3.4 million.

RURAL SETTING A BIG WINNER

This Milton property attracted a suburb record sale price earlier this year.

A three-bedroom, one-bathroom home set on 70 acres of former dairy farming land in Milton sold for $2.7 million earlier this year.

LJ Hooker Ulladulla sold the Evans Lane property, called ‘Danesbank’, with the home handcrafted from local stone.

The property has only hit the market twice in 50 years, and sits just 7km out of the township of Milton.

OVER 55s LIVING PROVES POPULAR FOR RETIREES

A removable home similar to his one in the Suncoast Village over 55s village in Ulladulla sold well above expectations this year.

Bidding wars are erupting over removable homes in over 55 villages in the southern Shoalhaven, with two recent sales attracting a sale price well above expectations.

Listing agent Jemma Roach, of Harcourts Ulladulla, said the two-bedroom villas sold within 24 hours of listing.

“Both of them sold with massive record prices for anything seen in those villages before,” she said.

“They are a removable home, and you don’t own the land.”

A villa in the Suncoast Village sold for $475,000, while a dwelling in Seabreeze estate got $446,700.

Ms Roach said both villas sold to people from Canberra looking to retire on the south coast.