It has been a fruitful week for local real estate agents. Three properties have been sold each worth more than a million dollars.
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Kate Maday (One Agency - Maday Property) sold a four-bedroom home in Burradoo for $1.6 million, and Anne Stone (McGrath Estate Agents Bowral) sold a three-bedroom home in Mittagong for $1.08 million.
The most valuable property this week, however, was a five-bedroom, three-bathroom house at 44 Yean St, Burradoo, sold by Duncan Hill for $1.72 million.
"The house is a family-orientated house with multiple living areas. It's in a very good location, and it's beautifully landscaped around the house," Mr Hill said.
The house was built about 30 years ago, and the original owner designed an elaborate formal garden with cool-climate plantings. It also features a studio, spaces for entertaining and for children to explore, a formal living and dining room, family room and breakfast room, and upstairs sitting area with views to Oxley Hill.
The property is close to the Burradoo Railway Station and Oxley College. Bowral town centre is within walking distance, while the owners can also cycle into town or through Burradoo to Moss Vale and the river.
The house sold for almost double the price it raised in 2007 ($867,500) and 2014 ($970,000). Mr Hill said he had expected the house to reach $1.7 million.
"The market, certainly in the last two to three years, has steadily increased," Mr Hill said. "It's fallen within the standard brackets of what we've been selling. It's a very good result for the vendor, but it's a fair purchase price for the buyer, and the location's a very good one."
For many years, Bowral was a place to retire to after 65, Mr Hill said, but he thought that COVID and the move towards working from home would attract a younger, 35 to 65 demographic to the region.
"The region has always been a strong desirable place for people from Sydney to come to, but it's also well-positioned between Sydney and the coast, so a lot of people have always had a holiday house in the area, or a second property.
"Now with COVID and people feeling more comfortable about working away from the city, or working in a very beautiful, less built-up area, we're certainly seeing a younger demographic moving into the area.
The Southern Highlands has always been a strong area to purchase in because of the location, Mr Hill believes. "Typically the market in the Highlands doesn't contract very much. It's an area that has high net worth and people tend to hold onto their properties for long periods of time. It's just a great area to live in and to buy in."
For more information on the property, visit https://www.realestate.com.au/property/44-yean-st-burradoo-nsw-2576.
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