Beachside block sells for $1.55m
By BELINDA SCOTT
SAPPHIRE has confirmed its position as the hottest spot in the Coffs Coast property market with the sale of a 608 square metre headland block for $1.55 million.
The block is one of three prime sites developed on the headland by Barry France, who is retaining one of the three blocks for his own use.
Mr France bought the site in 2002 and has spent the past three years developing plans which were acceptable to Coffs Harbour City Council.
He said yestereday the Sapphire site was a unique location which could never be repeated.
Real Estate of Distinction principal Peter Stone, who opened his specialist upmarket real estate agency last year, said these were exciting times for everyone in the real estate industry.
Crown Real Estate in Woolgoolga is also reporting a busy time in real estate in that beachside community, with sales of more properties in the past month than the agency sold at the height of the real estate boom.
This comes as several developers are looking at expanding Woolgoolga's retail capacity.
Some agents are saying that the prices being paid in the middle of the market are not spectacular while others said some people had set unrealistic prices for their houses at the height of the real estate boom and were not prepared to accept less.
Beachside and prestige rural properties remain popular throughout the Coffs Coast.
The verdict appears to be that the top and bottom of the market are the busiest places at the moment.