The local real estate market might be flat but clearly this message hasn’t reached buyers looking to settle in Putney.
Several recent sales have brought the small suburb back under the spotlight after its median sale price dropped from a high of $2.6 million in November 2017 to a median of $1.975 million (recently dropping below the previously recorded $2.005 million) recorded by CoreLogic.
The highest recorded suburb price of $5.64 million set in March 2018 for 12 Putney Parade, Putney, has been eclipsed by the quiet sale of a nearby property.
A riverfront residence with access to a Sandy Beach at 34 McGowan St, Putney, achieved a sale price in the range of $5.65 million to $5.7 million.
The 1982-built house at the peninsula end of the suburb sold prior to auction for an undisclosed price to a local buyer, said agent Tim Wu from LJ Hooker Rhodes.
The architect-designed house flows over multiple levels and each of the four bedrooms has a balcony with the main enjoying water and city skyline views.
Recently updated, the property also comes with a remote-controlled slipway.
Another property has set a new street record for the suburb.
Mr Wu and colleague Jen Yen also sold 95 Waterview St, Putney, for an undisclosed price within the price guide of $4.05 million to $4.15 million, to claim a street record.
The previous record of $3.775 million was set in early 2015 by the sale of a five-bedroom waterfront house on 753sqm at 6 Waterview St.
Although No. 95 is not absolute waterfront, it is across the road from Kissing Point Park and has panoramic water views.
Mr Wu said the full-brick architect-designed house built in 2008 was one of the best properties the suburb had to offer.
“It is definitely one of the better homes you could buy in the area — the house and location are brilliant,” Mr Wu said.
The three-storey house with a heated inground pool is set on about 610sqm.
It has multiple living areas, high ceilings and floor-to-ceiling glass doors to maximise light and access to the scenic location.
Two large balconies that extend the width of the house on the ground floor and first storey have glass balustrades that provide unobstructed views of the park, foreshore and Parramatta River.
Mr Wu said he was never going to let the property sell for less than $4 million after it passed in at auction in April.
It ended up selling to an overseas buyer who viewed the property after the auction and went on to inspect it on several occasions.
“There were two other interested parties at the time but ultimately the buyer was able to offer a 30 days settlement term,” Mr Wu said.
The new owner has plans to enjoy retirement in the luxury residence, Mr Wu said.