House prices soar by 30pc in riverside Hunters Hill
The Sydney peninsula suburb is prized for its large blocks and stunning views.
Prices in the elite Sydney peninsula suburb of Hunters Hill are up 30 per cent, with the riverside precinct now commanding the higher prices of prestige precincts such as Mosman.
An expansive waterfront house has just sold off market for $1m more than it achieved a year ago.
The 9 Euthella Ave waterfront owned by criminal lawyer Adam Ly and his wife Kim has just sold for $6.85m, whereas a year ago the four-bedroom house on a 790sq m waterfront block passed in at auction for $5.25m. The vendors subsequently knocked back offers of up to $5.8m following the auction last year.
The house was sold in an off-market transaction negotiated by McGrath Hunters Hill agent Tracey Dixon, who notes that median prices have risen about 30 per cent of late to $3.35m, up from just over $3m last year.
Hunters Hill is home to high profile publican and former federal MP Craig Laundy as well as multi-billionaire developer Lang Walker, former treasurer Joe Hockey and former NSW Labor minister and convicted criminal Eddie Obeid and his large family.
Dixon says there are a lot of buyers in the $5m to $10m range wanting to get into the tightly held Hunters Hill and Woolwich market.
She says these buyers are coming from feeder suburbs such as Eastwood, Putney, Gladesville and the Hills district.
Buyers from nearby Rozelle, Birchgrove and Balmain are attracted to Hunters Hill because of the large blocks and garden-like nature of the historic suburb.
“A lot of these buyers are working from home.
“They want more space for offices and entertainment areas,” she says.
Some buyers prefer Hunters Hill over Mosman because it has great character and residents don’t have to battle busy Military Road.
Dixon says higher-end homes are achieving the prices of Mosman. “We are on an onward trajectory, particularly with waterfront homes,” she said.
She has just listed two adjoining properties with views over the Lane Cove River and surrounding coastal bushland at 8a and 8b North Pde, Hunters Hill.
The vendors are Perpetual board member Craig Ueland and his wife Nicole, who plan to downsize within Sydney.
Dixon says the properties, which sit across the river from the 19th century Riverview, will be sold in one line or separately.
She will auction the properties on September 23.
Dixon has a guide of around $9.5m on 8a North Pde, which features an award-winning contemporary home designed by French architect Corinne Girard Young on a 1100sq m site, and $5.5m on 8b North Pde, which is a large site with an older-style home that needs work.
The Uelands, who purchased 8a North Pde for $6.2m in 2010 and 8b for $3.96m five years later, are selling as they plan to downsize within Sydney.
Meanwhile, former rugby league footballer Lou Zivanovic has just bought into nearby Woolwich, paying around $12m for a waterfront house known as St Brelades through Ray White Drummoyne agent Chris Wilkins.
The vendor of the five-bedroom The Point Road house on nearly 1000sq m was the former head of Platinum Asset Management, Michael Cole, who has been a Hunters Hill resident since the 1980s.
Mr Wilkins could not be reached for comment.
