Property Watch: Valaud Crescent listing could set a new suburb sale record for Highfields

Highfields could have its first million-dollar home if a residence that has been in the one family for the past 33 years sells in its price guide.

Dalton Partners’ Scott Purnell and Joanna Cook, commonly known as team “ScoJo”, are marketing 40 Valaud Crescent, a four-bedroom residence on over 1200 square metres.

It has been listed with a price guide of $1.1 million to $1.2 million.

A new suburb record was set last year when a home on the Pacific Highway sold for $900,000.

The suburb itself experienced huge growth in 2017. According to Australian Property Monitors, Highfields experienced 35.2 per cent growth last year.

Its median sale price rose from $540,000 for 12 sales in 2016 to $730,000 for 15 sales in 2017.

The suburb’s increase in popularity is no surprise to Mr Purnell, who was born and bred in the area and bought his own home there in 2000.

“People are beginning to realise it’s so close to town,” Mr Purnell said.

“That whole east side, and Highfields being the closest east side suburb to town, is just becoming so central. The schools are good, public transport is good into town, you’ve got major shopping centres at Charlestown and Kotara.

“The biggest thing is it is flanked by Glenrock State Recreation and has direct access to the Fernleigh Track.”

In its early days, Mr Purnell said, the suburb’s homes were mostly held by professional people, “a lot of medicos with suites in Adamstown”.

“What I am seeing is it is having a resurgence of that. There are a lot of people from inner city Sydney wanting a sea change and a lot of medical professionals looking at the suburb,” he said.

“There are also a lot of people who grew up in Highfields wanting to buy back in there … it’s a coastal lifestyle on offer. 

“Based on many million-dollar sales on the westward side of the Pacific Highway, it’s only natural that the trend will be followed on the east side.”

The home in Valaud Cresecent is the first house that has come on the market offering size and land and interest has already been strong since being listed.

“It’s a beautiful, beautiful block of ground,” Mr Purnell said. 

“It runs the bottom of Highfields Parade and it backs right onto Glenrock, right onto the Fernleigh Track.

“The home itself is distinctive; it has a Cape Cod feel. The five or six sales we’ve had there, they’ve been your basic three-bedroom, renovators’ home and we’ve been touching on $800,000.

“This one, is the first opportunity to get double the land holding and double the size house. It is currently being used as three bedrooms and two studies but could easily house a family wanting five bedrooms and wanting a coastal lifestyle close to the CBD.”

The home is set out over three levels. Downstairs is a garage, laundry and storage.

The main level features a timber and stone kitchen, living, study and a family room. Upstairs are four bedrooms and there are bathrooms on both levels.

It is open for inspection from 1.30pm until 2pm on Saturday.

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