Friday, March 02, 2007

Dubai buyer sets Aussie real estate record.

How's that for a tabloid headline then?

Friends on the New South Wales Central Coast, where our home is, sent us this earlier today. A record price paid for a property in one of the neighbouring suburbs and it was paid by a buyer who flew in from Dubai.



That's about eleven and a half million dirhams by the way.

It's in a great spot, around a one hour drive from Sydney, plenty of facilities in the area. The arrow points to the beach it's on.



Scroll down to the post before last and you'll find a couple of other photos of the beach & bay.

Let me tell you a story.

When we decided to move up there from Sydney, about 12 years ago, we thought about buying one of the houses on that stretch of beach. Then they all needed renovation but were hugely underpriced - the one we looked at was less than A$500,000. (About Dh1.375million). Then we heard stories about a King Tide, back in the seventies I think, which washed away some of the houses there. The story was confirmed by several real estate cowboys agents.

Then we saw a house we preferred, back from the beach and up on the hilltop overlooking the bay. No regrets about the decision really, although the capital gain we've made would have been double or triple if we'd bought on the beach.

That would have been nice wouldn't it?

The local council is planning to build a sea wall to protect the properties, but the owners will have to foot the bill. No-one is saying how much that may be. I assume the new owner was made aware of that by her solicitor and the real estate agents.

Out of interest, anyone know the new owners?

3 comments:

Christopher said...

Hi My name is Chris Brown & I invented a seawall system called 'Seabees' in Sydney in the seventies. 1st use was at Christian Bros. House at 51 Ocean View Drive, Wamberal Beach. I witnessed the storm of 1978 - it was really a succession of storms, each slightly less than the previous, so that a great erosive bight was taken out of the beach. A natural recurrence which will break through to the river behind one day, & re-ccycle the dunes.

Seabees gave been subsequently used at Cronulla, garden Islane, Blackpool [UK] Licolnshire [UK] & most recentlay at Al Khiran breakwater, Kuwait. Cheaper than Accropodes, Coreloc or X-bloks. See also Beacon park & Cocos Keeling Islands on Google.

Be pleased to send photos for your new seawall. Sorry to say I sold my house in St Ives in 1986.

Christopher said...

see also:
www.gosford.nsw.gov.au/customer/document_gallery/wamberal/alternatives.pdf

chrisbrownseabees@googlemail.com

Dubai Property said...

"The local council is planning to build a sea wall to protect the properties, but the owners will have to foot the bill. No-one is saying how much that may be. I assume the new owner was made aware of that by her solicitor and the real estate agents." it`s very good news. You now at what time this project will realized