The end of the property boom is good news for first home buyers on the lower north shore who now find themselves with more choice.
This includes prized views of Middle Harbour, that not long ago would have been out of many buyer’s price range.
Mitchell Soineva, of Belle Property Mosman, said 37/170 Spit Rd, Mosman, was a good example of this growing trend.
“There has been a drop in prices since the peak of the market and this has made these types of properties more available to buyers who wouldn’t have been able to afford them 18 months ago,” he said.
Mr Soineva said most of the interest has come from first home buyers, although there was also interest from investors keen to get into the market before any potential changes to negative gearing legislation if there is a change of government.
The renovated two-bedroom apartment with single car park space is scheduled to go to auction on May 25, with a $850,000 guide.
The vendor has given the apartment new carpet and a paint job, while floating floorboards have also been installed.
Other features include open plan living/dining room, floor-to-ceiling glass bifolds and a stone kitchen with Bosch cooktop.
The apartment has buses to Manly and the city departing on its doorstep, while Balmoral Beach and Mossman village is within walking distance.