The home at 26 Cullen Bay Cres, Larrakeyah, sold for $1.58m. Picture: realestate.com.au
A waterfront home in Larrakeyah was the most expensive sale in the Territory last week as the prestige market continues to perform well.
The four-bedroom property at 26 Cullen Bay Crescent in Larrakeyah sold for $1.58 million.
This was the third most expensive sale in Larrakeyah this year, behind the whopping $5.325 million sale of 19 Kirkland Crescent and the $1.85 million sale of 1 Morice Court.
The home at 26 Cullen Bay Crescent, in the marina estate of Cullen Bay, has easy flow between the open plan living spaces and the outdoor entertaining and pool area.
The property has four bedrooms, three bathrooms and a walkway down to the water.
Selling agent Adam Gulliford of Raine & Horne Darwin said the property attracted strong interest, with the water frontage the big drawcard for potential buyers.
“We were getting enquiries from locals and people looking to retire out of Sydney and Melbourne,” he said.
“A buyer who lives in Cullen Bay purchased it.
“They already own a home in Cullen Bay and bought it as a second house.”
The home at 26 Cullen Bay Cres, Larrakeyah. Picture: realestate.com.au
Mr Gulliford said the prestige market remained strong in Darwin, as evidenced by the sale of the home at 26 Cullen Bay Crescent.
“We’re getting a lot of good interest in good properties,” he said.
“If it is well presented, it will sell.
“The properties that need work take longer but two years ago that was all anybody wanted.”
According to the latest PropTrack data, the median house price in Larrakeyah is sitting at $1.375 million.
This is up 5 per cent in the past 12 months.
Mr Gulliford said the top end of the Darwin property market was set to get even busier.
“A lot of retirees out of Sydney and Melbourne who have spent time here over the years, they’ve had enough of the rat race,” he said.
“It’s actually quite cheap to buy on the water here in Darwin when you consider it is the same price as the average house in Sydney.
“You can have a place an hour’s drive from the CBD in Sydney or on the water in Cullen Bay.”
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