What will local buyers pay more for in the 2233 postcode? 

What will local buyers pay more for in the 2233 postcode? 

What are local buyers looking for in a property and what will they pay more for?  This is a question we are asked a lot.

In this month’s blog we want to share with you some insights into our local market and in particular what features of a house family buyers are looking for and therefore what they are prepared to pay more for.

Our area is in hot demand from families

Since Covid hit last year, we have been inundated with buyer enquiries from families looking to move to our area. Our market is in hot demand which you probably know.

Why are we seeing this trend? There are a number of factors that are driving this. Firstly, our area offers amazing lifestyle benefits. Being close to the south coast beaches, 25 minutes from Cronulla beach, close to beautiful bushwalks and natural waterholes in the Royal National Park. These lifestyle benefits are more highly sought after as a result of the COVID-19 pandemic.

Secondly, its proximity to Engadine town centre, local high schools and public schools and of course the great community feel the area has.

More and more family buyers are seeing the 2233 postcode as a great place to bring up their young families plus, it offers a good opportunity for these buyers to get into the market. It’s for these reasons we’re seeing a large number of people, and in particular families making the move to this area.

Increasing demand from families looking to buy in Woronora Heights

What we’re finding is a lot of buyers who have been living in smaller homes for up to 10 years in suburbs such as Engadine and Heathcote, are looking for a larger property and importantly a property that doesn’t need work done to it.

These buyers want to find something that is completely done so they don’t have to worry about moving into a home and spending time and money fixing it up. As a result, we are seeing areas such as Woronora Heights, that offer grander homes, increasing in popularity with family buyers. This suburb is performing really well.

So, what features of a house will family buyers pay more for?

One of the best ways to explain how certain features of a house can add buyer appeal and value is to share a recent example from a property we sold in Pelican Place in Woronora Heights.

This property was on a battle-axe block. The home was beautiful internally we just didn’t know how it would perform in the local market because it was on a battle-axe.  The property sold probably about 2 years ago and took a while to sell at the time. Before putting the property on the market, the vendor spent time ensuring it was presented really nicely to attract a family buyer.

Over the campaign we managed to get over 100 groups through in 2 ½ weeks and we sold the property before auction for $150,000 more than the vendor had hope for.

The sale currently holds the record for Woronora Heights at $1.6 million – which was really exciting!

With regards to this particular property, certain features helped attract family buyers, which in turn generated excitement and competition for the property and helped us achieve a great sale price. The following features were high on our buyer’s wish list:

• Open plan living
• The larger bedrooms
• The multiple living areas both upstairs and downstairs which offered that extra space for kids and larger families
• Three bathrooms throughout the property
• A really lovely pool & outdoor area
• And the property was in a quiet family friendly location

A final word

So, in summary what we are finding is family buyers are increasingly keen to move into our area due to all the benefits the 2233 postcode offers. These buyers have a pretty comprehensive wish list and are often willing to pay more for some or all of these property features:

• Larger land size
• Multiple bedrooms
• At least 2 bathrooms
• Separate living spaces
• Outdoor entertaining area or a pool and
• A place to work from home

Every property is different and if you’d like to talk to us about how to make your property more appealing to a family buyer, we’d love to help you. Please feel free to contact us at any time here.