Huge Price Jump

Newcastle Herald

Wednesday July 14, 2004

AT Brandy Hill, the acreage suburb near Seaham, a lovely house on a slightly larger acreage than the Cherry Road property (Auctions) sold for $589,000.

Agent Steve Bates of Steve Bates First National Real Estate said the three-bedroom house with a triple garage and machinery shed at 20 Gwandalan Close was on the market only two weeks before being bought for close to the asking price of a little over $600,000.

The buyers were downsizing from a large property at Williamtown, while a transfer to the Central Coast had prompted the vendors to sell the property they bought only 18 months before.

Mr Bates said it sold then in the mid- to late $300,000s.

"There has been a significant price jump in acreages in the past 18 months," he said.