No. 10 Victoria Ave in West Pymble is due to go to auction on July 3.Source:Supplied
The results come as no surprise to Alex Mintorn, of McGrath Wahroonga, but he said the lower median price also had a lot to do with the fact that the suburb is so tightly held.
“There is just no turnover, and that is reflection of what an amazing suburb it is,” he said.
“It is gorgeous, there is a really nice sense of community, and a very small, underrated public school.”
Earlier this month, Mr Mintorn sold a four-bedroom house at 30 Boronga Ave, West Pymble at auction for $2.62 million. The price guide was $2 million and it had a reserve of $2.2 million.
“It’s a little pocket of the upper north shore that is still affordable, but that is already changing,” he said.
Sales stock is also tight – according to realestate.com.au there are only a handful of homes on the market in West Pymble.
Among them is 10 Victoria Ave, which is due to go to auction on July 3 through Anna Cavill and Thomas Merriman, of Ray White Upper North Shore. They have set a price guide of $1.8 million to $1.98 million for the three-bedroom, double red-brick home on 936sqm.
Ms Cavill said there was already strong interest in the home.
It has a guide of $1.8 million to $1.98 million.Source:Supplied
“I do think it (West Pymble) is undervalued – the location is awesome,” she said.
“It’s so close to everything, but I think it does fly a little bit under the radar, it is definitely a hidden gem.”
She said many people, including the owner of 10 Victoria Ave, spent decades in their homes, raising their families.
It was only when the time came to downsize that properties came to market for the next cohort of young families.
In the case of 10 Victoria Ave, the owner has been there for 55 years.
Ms Cavill said many buyers were choosing to embark on extensive renovations of older-style homes like this one, while others were opting for knockdown-rebuilds.
“It is a family area and people are investing a lot of money because they are going to be there for a long time,” she said.
“I do think it’s an awesome place to buy into – if you can find something. It’s very tightly held and when properties do come to market there are usually a few people chasing them.”
No. 10 Victoria Ave has the added advantage of backing onto the school oval of West Pymble Public School, with an “unreplaceable” rear gate leading straight into the school.
This is likely to make the property extremely popular with young families. The home is also within walking distance of the bus, aquatic centre and local shops.
Originally published asThe Sydney suburb flying under the radar