At a time when many Sydney suburbs are seeing a correction in housing prices, it’s heartening to see that some suburbs are still notching up healthy sales – even nudging street records.
Cromer is one of the lesser-known suburbs of the northern beaches, but that is changing, as more out-of-area buyers take notice of its large blocks and substantial homes, which can be bought for considerably less than its beachside neighbours.
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Cromer’s median house sale price is $1,500,000, which makes it one of the cheaper parts of the northern beaches.
However it is growing steadily, with CoreLogic putting its five-year growth rate at 69 per cent.
The median house sale price for the northern beaches in general is $1,760,000.
The suburb saw a run of sales just before Christmas, including the sale of 84 Toronto Ave, Cromer, for $2,555,000, on December 18.
Set on one of the largest blocks backing Cromer Golf Course, the architect-designed home has north-to-rear landscaped gardens with sweeping fairway views.
The floorplan offered flexibility for blended families, including a teen retreat or in-home granny flat, coupled with open plan living areas, indoor/outdoor entertaining and a resort-style garden sanctuary.
This was the second-highest price ever paid for a house in the street, after the $3,300,000 sale of a five-bedroom house at 74 Toronto Ave in October, 2017.
The sale of No. 84 was negotiated by Nick Duchatel, of Belle Property Dee Why.
Co-agent Corie Tio, said the owners had decided to put the property on the market quietly before Christmas and received lots of interest.
“We had a really good buyer who we had been working with for 12 to 18 months to find the right property,” he said.
“It turned out to be exactly what they were looking for.
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The same day, Mr Duchatel also sold another home in Cromer, at 19 Howse Cres, for $1,550,000. It also wasn’t far off the street record of $1,700,000, set in September, 2017.
Mr Tio said more buyers were looking at suburbs like Cromer, which were a bit further away from the beach, but offered space and value for money.
“It’s probably being perceived as better value for your money in terms of size and value.” he said.
“We are definitely seeing more buyers looking in areas like Cromer.”