Once upon a time, not so long ago, some real estate agents would turn the name of North Balgowlah around in an attempt to ride on the coat tails of its more prestigious neighbour.
Branding the suburb ‘Balgowlah North’ was an attempt to shrug off the working class reputation of the suburb, when all the area needed was a bit of time.
SIGN UP HERE FOR THE NSW REAL ESTATE NEWSLETTER
Because it didn’t take young couples, families and first home buyers long to uncover the secrets that had been there all along — big, level blocks, and great access to the city and community facilities.
There were plenty of older style houses on offer, and in 2001, the median house sale price in North Balgowlah was just $520,301.
Today is a different story. North Balgowlah has had its happily ever after, and is no longer the bridesmaid to her neighbours.
According to latest figures from CoreLogic, North Balgowlah has a median house sale price of $1,900,000, which represents a solid five-year growth rate of 53 per cent.
Chris Noone has watched the gentrification of North Balgowlah with interest. He and wife Kirsten Crothers bought their home at 62 Serpentine Cres, in 1999.
They spent five years living in London, before returning to live in their fibro home, while they set about spending a few more years planning their dream home.
“We knew when we bought it that it was in an amazing location and that one day we would rebuild,” Mr Noone said.
The result is an architectural masterpiece that has been created just for the 1208sqm block on which it sits.
MORE: Hopelessly devoted to Olivia
Ready set, downsize on the water
The home was also designed around a collection of architectural antiques the couple collected during their time in London.
A 15m glass-fenced pool, lush lawns and established gardens complete the look. It’s a visual feast of modernism meets beach house that is wonderfully original, low maintenance, and has been the perfect place to raise their family.
“North Balgowlah has definitely changed over the years, and there are some interesting houses around now,” Mr Noone said. “It is a great place for families, there is a strong sense of community.”
The property will go to auction on a date and time to be set, with a price guide of $3,400,000. For more information, contact Matt Brady, or Ryan Spence, of Belle Property Seaforth.