A recent purchase in Tuggerawong is proof in the pudding that a cooling property market will benefit Aussie families.
A local couple have scored their dream home on waterfront reserve opposite Tuggerah Lakes – a property that they would not have been able to afford a year ago.
All on one level on a slightly elevated block, the brand new Allworth home at 186 Tuggerawong Rd, which was purchased for $870,000, had not even been lived in.
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“This was all about timing — the vendors had a change of circumstances and decided not to move in, and the buyers, who were supposed to move interstate, were also unable to fulfil their plans,” agent Darren Smith from Capital One Wyong said.
“The local buyers sold at the top of the market about 12 months ago and would never have been able to afford a waterfront.
“This is a classic example of sellers coming out of an unaffordable market who have been given the opportunity to buy their dream home at a fair price.”
The four-bedroom property on a 1056sqm block included three living zones, all with water views, designer kitchen with stone bench tops and stainless steel appliances and ducted airconditioning.
The property was originally priced with a guide of $925,000 — $950,000, but Mr Smith said that it was still a great sale.
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“We had a few years of silliness, but house prices are now becoming more realistic to the average Australian salary,” Mr Smith said.
The median house price in Tuggerawong is $620,000.