Agent Cain Beckett believes the $1.05 million sale of a master-built country residence in Nulkaba has set a new suburb record for a one-acre property and is indicative of the increased inquiry and buyer confidence in the Hunter Valley.
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Mr Beckett, of Jurd's Real Estate, sold 17 Tallowood Drive for the second time. He sold the five-bedroom house which overlooks an inground pool on 4000 square metres of land for $900,000 in 2016. That was the record mark for a home on a one-acre lot of land at exclusive Nulkaba until the recent result broke the million-dollar mark.
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The 10-year-old home was marketed this time with a guide of $1.1 million and was secured by a local buyer.
He said most interest for these country homes was coming from out of town.
Mr Beckett is also marketing a three-bedroom Federation home on 21 acres at 64 Tuckers Lane in North Rothbury with a guide of $1.1 million to $1.2 million, which he described as "good value".
"That Merewether-Bar Beach and the Sydney North Shore market are where 80 per cent of our buyers come from for the vineyard area," he said.
"A lot of the city-based and people in Merewether are selling the big house and buying a unit in one of the new developments and then a country house.
"They have the house as a base and they can rent that out when they're not using it and the rental returns up here aren't seasonal. If you buy a nice house up here then rent it out when you're not using it, it's $2000 to $3000 a weekend, every weekend. It makes sense from an investment perspective but also lifestyle perspective."
