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
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?