Woollahra property prices skyrocket in 2015

It’s been a busy year in the leafy streets of Woollahra, where more than 160 houses have traded hands in the past 12 months, up about 20 per cent on the suburb’s usual volume of transactions. 

Prices are up, too, with the median soaring 38.6 per cent in the six months to September, reaching a new high of $2,635,500.

The sale of Headingley House for more than $13 million remains the year’s highlight, marking the end of 66 years of family ownership by the Spender family. John Spender QC sold the Wellington Street property to a local buyer through LJ Hooker Double Bay in July.

Meanwhile, the vendors of the grand estate Listowel, in Edgecliff Road, were keen to topple the suburb record of $16 million set in 2008 with the sale of 5-9 Rush Street.

The 1930s home went to auction on September 19 and was passed in at $16.1 million. Agent Ben Collier of McGrath Eastern Suburbs says it’s an extremely unique property for the Woollahra market.

“We’re getting a lot of Bellevue Hill-specific buyers due to Listowel’s scale, land size, views and aspect, ” he says.

All up there were 13 reported sales over the $5 million mark in what remains an aspirational suburb for Sydneysiders.

“It’s such a gentrified area, particularly around the village,” says BresicWhitney agent Catherine Dixon. “We don’t have a lot of peaks and troughs, it’s an area that holds its own regardless of the craziness elsewhere.”

Dixon says the village is enjoying a renaissance of sorts as residents opt to shop locally rather than heading to Westfield at Bondi Junction.

“We lost a lot of our shops when Westfield went in, but now there’s a backlash,” she says. Locals are also staying put for longer.

“It used to be that every four years people would move,” says Dixon. “They’d buy in, do a little bit of work, take the equity out and move up to a bigger place. Now it’s more like six years between moves, which is great for the community.”

1. 22 Roslyndale Avenue 
About $8.5 million
5 bedrooms, 4 bathrooms, 2 car spaces
Built 1920s; renovated 1990s
Land 1660 square metres
Inspect Sat, 11am-11.45am
Agent Raine & Horne Bondi Junction, 0414 248 737
Last traded for $5.5 million in 2005

Enjoying a north-easterly aspect, level lawns and a family-sized in-ground pool, this battle-axe property offers space and privacy.

There is a double garage at street level with a self-contained studio underneath. A pedestrian pathway leads to the main house, with accommodation over two generous levels.

Upon entry you’ll find a lounge room and adjoining media room complete with drop-down film projector and fireplace. The five bedrooms are on this level, three opening onto a balcony, two with en suites and the master with a walk-in wardrobe.

Head downstairs to a second lounge room and an open-plan kitchen/family room with fireplace, polished timber floors and five sets of double doors opening onto a full-length deck overlooking the leafy, established garden.

The kitchen comes with white cabinetry, stone benchtops, integrated Bosch wall ovens and a gas cooktop. There is a large, separate laundry adjoining a guest powder room plus a wine cellar or storeroom.

Renovated for modern living, there is room to further personalise the property with cosmetic updates in the bathrooms and landscaping in the expansive gardens.

Room for improvement: Give the front garden a makeover.

 

2. 49 Wallaroy Road
About $4 million
3 bedrooms, 3 bathrooms, 1 car space
Built 1930s; renovated 2005
Land 251 square metres
Inspect by appointment
Agent Ballard Property, 0409 385 815
Last traded for $1.71 million in 2002

Designed by renowned architect Glynn Gilling and enjoying a due-north aspect, this gracious home occupies a corner block just metres from Cooper Park and Lough Playing Fields.

A highlight of the property is the character-filled main living room which boasts an open fireplace and three sets of double doors opening onto an outdoor dining terrace and leafy courtyard capturing plenty of sunlight.

A second, adjoining living space opens to a balcony and there is a separate gas kitchen. Both the dining room and a cosy purpose-built library have underfloor heating.

Upstairs the main bedroom features a dressing zone, walk-in wardrobe, fireplace and marble en suite. The remaining two bedrooms have built-in storage and sit either side of a versatile study or media room.

Other features include ducted air-conditioning, security intercom, high ceilings, dark timber floors and plantation shutters. There is a large storeroom and laundry as well as internal access to the single garage.

Room for improvement: There’s room for a cosmetic upgrade in the kitchen and bathrooms.

3. 3/20 Chester Street
$975,000 +
2 bedrooms, 1 bathroom, 0 car spaces
Built 1930s; renovated 2004
Size 90 square metres
Strata levy $1663 a quarter
Inspect 10.45am-11.15am
Agent BresicWhitney, 0402 429 462
Auction December 10
Last traded for $800,000 in 2010  

Capturing views over the rooftops and leafy surrounds of the district, this apartment is one of five in an updated security character block.

Part of the property’s appeal lies with its central location. It’s a 500-metre walk to the trains and shopping at Bondi Junction and about 700 metres to both the Queens Street village shops and to the green expanse of Centennial Park. And if you fancy a day at the beach, it’s only a 10-minute drive to Bondi.

Designed for a low-maintenance lifestyle, the open-plan living spaces have timber floorboards, high ceilings with ornate cornices and plantation shutters on the windows. The stone-topped kitchen cabinetry comes with stainless steel Smeg appliances, an integrated laundry and a display cabinet facing the lounge area.

Double doors open onto a north-east facing balcony.

Each of the two bedrooms has built-in storage and a ceiling fan, while the fully tiled bathroom has a heated towel rail and stone vanity.

Room for improvement: Consider a wallpaper feature wall in the main bedroom.