Cromer’s price record broken for the second time in as many weeks with $4.95m sale

Cromer’s suburb record has been broken twice in as many weeks and is now sitting at just under $5m. Before August the low-key suburb had only seen two sales north of $3m.

Big sale – 64 Washington Ave, Cromer.

Cromer’s suburb record has been broken twice in as many weeks and is now sitting at just under $5m.

Before August the low-key inland suburb had only seen two sales north of $3m. But in mid August the suburb record reached the mid-$3ms with the sale of a renovated house in Tyagarah Pl.

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Then two weeks later a hot online auction saw a luxury family home on 1012sqm at 64 Washington Ave sell for a massive $4.95m.

Selling agent Nick Duchatel, of Belle Property, said the Washington Ave sale was the most incredible auction he had witnessed in 15 years.

“Bidding went from $4m to $4.95m in 30 seconds with multiple bidders going up by $100,000 and $150,000,” he said.

“They were confident and determined. And there were four bidders all over $4.4m. It was jaw-dropping.”

64 Washington Ave, Cromer.

All the more so as the original guide for the north-facing large home with pool and beautiful outlook was $3.5m. The moment the property hit the market big offers were pouring in so the auction was brought forward.

It was good news too for the owners who had paid $2.6m for the property three years ago and apart from installing a new kitchen they were selling the property virtually unchanged. They have almost doubled their money in three years.

Mr Duchatel said families priced out of Freshwater and Manly Vale were seeing Cromer as the next pocket for flat, and larger, blocks of land.

“Buyers are giving Cromer serious thought because of the vibe of the suburb, the community, access to Narrabeen lagoon and beaches, the bike path and the ability to walk to coffee shops and Dee Why beach,” he said.

64 Washington Ave, Cromer.

And he added that while the number of houses coming to market in suburbs such as Cromer, Narraweena and Beacon Hill was stable at about 100 homes a year the number of buyers had tripled as eastern suburb and inner west families chased the northern beaches lifestyle and value.

According to realestate.com.au the median sales price for a house in Cromer is $1.81m, up 12.4 per cent in 12 months but up 22 per cent in three months – the fifth strongest performer that quarter on the northern beaches.

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Originally published as Cromer’s price record broken for the second time in as many weeks with $4.95m sale