A 12-month-old home considered among the top end in Fletcher’s The Outlook Estate is set to go under the hammer on Saturday as auctions generally quieten down for the Christmas-New Year break.
Century 21 Novocastrian’s Wayne Stewart is marketing the four-bedroom house at 17 Arbour Avenue which is set for an on-site auction at 10.30am with a price guide of $770,000.
It has two bathrooms, double-sized bedrooms, casual living and dining, a separate media room, fully fenced yard and a covered alfresco area overlooking an in-ground swimming pool.
“It’s elevated and has stunning views out to the wetlands to the north and it is a beautiful vista,” Mr Stewart said.
“It’s only a 12-month old Beechwood-designed home that’s been totally up-specced. It’s got the best of everything and is a home that you walk into and you don’t have to spend a cent.”
Mr Stewart said there were less bidders at auctions in what he described was “a normal marketplace”.
“We’ve come out of a market in the last four years where if I was to tell you your home was between $500,000 and $550,000, the chances are that it would sell for $580,000,” he said.
“But now we’re in a market when I’m still telling you $500,000 to $550,000 but we’re probably looking closer to the 500 than 550.
“It’s because we don’t have the competition for the property.
“It doesn’t mean the market has come backwards. It means we’ve come out of a market where the expectations of the market were higher than realistic price.
“The only people who are going to suffer are those who have bought at the top of the market and are going to have to sell in the next couple of years.”