Real Estate

‘Most affordable home’ cheaper than apartment

Written by The ReReport

It was billed as the northern beaches’ most affordable home and 98 Rickard Rd, North Narrabeen has delivered.

The fibro cottage sold for $843,000 at auction, which is less than the median price of an apartment on the northern beaches, which is $900,000.

Greg Rogan, of Bayview Real Estate, said the three-bedroom cottage on 462sqm of land was dilapidated but the land had a northerly aspect and the house was an easy walk to the beach.

Six parties registered to buy the cottage including three people who only saw the home on auction day.

“Bidding opened at $750,000 and quickly cracked through the $800,000 barrier,” Mr Rogan said.

“After $830,000 bids went up in $1000 increments.”

The house has timber floors and high ceilings and had been listed with a price guide of $800,000 to $880,000 — which is less than the median unit price on the northern beaches.

Mr Rogan said the North Narrabeen house was dilapidated and “probably unliveable” but that there were plenty of positives.

“It is an easy walk to beaches, restaurants, school and shops,” he said.

This campaign for the property pegged it as an ideal offering for people wanting to build a dream home, as well as buyers wanting to renovate.

To that end, a tradesman from Mosman is the new owner.

Mr Rogan said his strategy was a short three-week campaign.

“Any longer and you can’t keep buyers dangling,” he said.

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