FOR the first time in years there are family houses for sale on the northern beaches for less than $1 million.
They are not homes that you can reach only by water, nor are they mobile homes in a caravan park, these are freehold family houses on the mainland of the northern beaches.
One is a four-bedroom house on a level 517sqm block, another is a three-bedroom freestanding house on more than 1200sqm of land and a third is a three-bedroom house with a double garage.
There are four northern beaches houses currently on the market with guides below $1 million and they are in Beacon Hill, Narraweena and Forestville.
Sam Pfafflin, of Raine and Horne, said 18 months ago the three-bedroom house at 819 Warringah Rd, Forestville would have been worth $1.2 million.
It is now for sale with an asking price of $900,000 to $1 million.
“I can’t remember the last time we had a house for sale below $1 million,” he said.
As house prices adjust throughout Sydney and as buyers find it more challenging to borrow prices have softened on the beaches.
“It wasn’t so long ago that we were selling two-bedroom units in Forestville for $1 million,” Mr Pfafflin said.
Statistics released this week from the data company CoreLogic show that the median house price for the northern beaches is $1.75 million. The northern beaches house median this time last year was $1.88 million.
A three-bedroom house on 1290sqm of land at 73 Ryan Pl, Beacon Hill goes to auction on Saturday March 9 and has a price guide below $1 million.
Chris Aldren, of Upstate, said the A-framed home had a waterfall on the block and the land was so large it had potential to be subdivided.
“Most of the buyers looking are people upgrading from Dee Why units, and because of what their units are now selling for vendors are having to meet the market,” he said. “There are opportunities out there for people,” he said.
Number 110 Waratah Pde, Narraweena has an auction guide of $950,000 and is booked to be auctioned on Saturday March 9. Tulo Sila, of Upstate, said it was a good level block of land and was a great first home.
“We have quite a bit of interest from young families wanting to make the next step,” Mr Sila said.
“Eighteen months ago it would have been worth $1.3 million to $1.4 million but that’s the way the market is at the moment,” he said.
SIGN UP FOR THE LATEST REALESTATE NEWSLETTER
The single-level home has been held for 60 years and has the original kitchen and bathrooms. Meanwhile, a three-bedroom townhouse at 4a Endeavour Dr, Beacon Hill with a guide of $990,000 is scheduled for auction on Saturday afternoon, February 16, at 3pm however it may sell beforehand.