$500,000 Tipped For Waterfront South

Sydney Morning Herald

Saturday January 21, 1995

Average prices are supplied by The Sydney Morning Herald HomePrice Guide.

The average auction price for Oatley in 1994 was $327,000, an increase of more than 5 per cent on the 1993 average auction price of $309,000.

Average private treaty sales for Oatley in 1994 recorded an increase of 17 per cent to $331,000 on the 1993 average private treaty sales of $282,000.

Total home sales for Oatley in 1994 was $41 million, an increase of $10 million on the 1993 recorded figure of $31 million.

The lowest recorded house sale in 1994 was $117,500 for 9 Myall Street. The highest recorded house sales were numbers 30, 30a, 30b and 32 Algernon Street, all sold for $810,000. Oatley was named after James Oatley, who received his grant of land in 1833. James Oatley was the clockmaker who made the clock in the turret of the Hyde Park Barracks.

A property situated on a large 1,113 sq m deep waterfront block at 38 Marine Drive, Oatley will be auctioned on February 2.

The full brick property consists of three bedrooms plus study with two bathrooms. The large formal living area includes a separate dining room and there is a lock-up garage plus storage area. Marine Drive is among the most sought-after waterfront streets in Oatley. In 1994 there were four recorded sales in the street. The recently redecorated waterfront three-bedroom home at 16 Marine Drive sold for $470,000; 94 Marine Drive, also a waterfront property with four bedrooms, sold for $535,000; 66 Marine Drive for $630,000 and 24 Marine Drive sold for $585,000.

Other comparable sales include 6 Freeman Avenue, a two-bedroom waterfront cottage, for $330,000; 4 Algernon Street, with waterfront access, for $450,000; 56 Lansdowne Parade, a four- bedroom waterfront, for $450,000; 60 Lansdowne Parade, a three-bedroom waterfront, for $427,000; and 62a Algernon Street, a four-bedroom waterfront with boathouse, for $560,000.

Cristine Castle of Nationwide Realty Harvey is handling the sale (579 6522). Bidding at the auction is expected to begin at about $500,000.