Sportscaster Tim Gilbert puts La Perouse back on track after first house sale in two years fetches $1,595,000
The small coastal Sydney suburb La Perouse has recorded its first house sale since mid-2010.
An architectural designed Endeavour Avenue house overlooking Frenchmans Bay sold for $1,595,000 last week.
It was bought by the Channel Nine television sports identity Tim Gilbert and his wife, Josie who recently sold their Maroubra home for $1.16 million through Raylean Ellison of Ellison Zulian Property.
Starting off with a $2 million-plus asking price, the property had been on the market by the Reid family for 460 days with two different agencies and two auction campaigns before selling last month through private treaty.
Its McGrath selling agent said it was hard to set a price due to the lack of comparable sales in the area.
The suburb notched up its first $1 million-plus sale in 2002. There have been six subsequent sales, with the highest price being $1.6 million in mid-2010, the suburb’s last house sale.
The Endeavour Avenue house previously sold in 1999 at $540,000.
The sale of the water-view contemporary four-bedroom home has been heralded as a sale that will start a significant demographic change in the next few years in the district, which has just 86 residential properties.
"As the older generation starts to sell up and move out, you'll see real change here. It will be really exclusive," selling agent Damon Anasta said.
"Like in Kangaroo Point (in Sydney’s Sutherland Shire), the change will happen almost overnight," he told the Southern Courier.
Within a stone’s throw of the developing infrastructure and amenities of neighbouring Little Bay, La Perouse is 14 kilometres from the CBD.
Randwick Council has recently upgraded the foreshore. The La Perouse tram line from the inner city closed in 1961 after about six decades in operation.
Anatsa door-knocked every house in Endeavour Avenue after he listed the recent offering but didn’t find any other home owners interested in selling.
“The most common response was: ‘You’ll carry me out in a box!’”
Presumably the reason no plans are yet mooted for McGrath to open its 49th office at La Perouse.
The Mark at Sydney's Central Park
The best of everything at Portside Wharf
Despite boom and bust cycle, real estate industry maintains myth that prices always rise: Catherine Cashmore
The recovery we’re currently seeing is largely lead by the investment sector – with an equal perception that values will maintain their upward trajectory.