A buyer from the Northern Beaches looking for their own private sanctuary snapped up a Glenorie acreage for $2.65m ahead of its scheduled auction.
The four bedroom contemporary homestead at 19 Boronia Rd, which backs onto Crown land and with spectacular valley views, spent just 17 days on the market.
The quick turn around is becoming increasingly common in the Hills semirural suburbs.
Agent Ben Jobberns from Guardian Realty said their figures show acreages are selling faster than residential homes in some areas with a shortage of stock driving sales.
“There is still a real thirst for quality acreages, so properties that are well presented and priced within a realistic range are still changing hands very quickly,” Mr Jobberns said.
The four bedroom single level contemporary style homestead overlooks an in-ground pool. There is also a separate workshop, stables and a large fenced paddock. The property had been owned by trail riders who would take their horses onto the adjoining land.
The new owner, however, is relocating to the semirural suburb for privacy and space.
“Equestrian buyers only make up about less than 10 per cent of the acreage market, what people are looking for a generously sized comfortable homes ideally with an aspect,” Mr Jobberns said.
Another acreage at 8 Coppabella Rd, Middle Dural went under contract within four days of being listed online. It was inspected by 10 groups prior to its first official open home and sold for $2.915m.
Other recent quick acreage sales include 16 Emperor Place, Kenthurst which was on the market just 33 days before selling for $2.95m and 595 Old Northern Rd which fetched $1.6m after 26 days on the market.
“Acreage is much more price driven — when we first started nine years ago buyers would say I’m only ready to buy in Dural or Annangrove but because of the lack of acreage coming to the market place they are now saying I can afford to spend around $3.5m,” Mr Jobberns said.
“They are now willing to look at anything in that price range — so the boundary between Dural, Middle Dural and Glenorie are really blurred.”