There’s no doubt that life is pretty perfect in our area, but it’s even nicer when you get to live right on Lake Macquarie in a waterfront property.
It’s an unbeatable lifestyle.
But why are some lakeside properties more popular than others? And which ones command a premium?
Meet David Westerman
David Westerman sells many waterfront properties on the Western side of Lake Macquarie. Based in Altitude’s Toronto office, he has a unique perspective on real estate, having spent 15 years in the finance sector before becoming a real estate agent in 2014. He’s known as an excellent negotiator, as well as for his efficient and professional service.
David, what do waterfronts on Lake Macquarie cost?
Looking at the Western side of Lake Macquarie, you’ve got some very affordable entry points for waterfront properties. For suburbs like Toronto, Coal Point, Fishing Point or Wangi Wangi, prices range from the low $1 millions to about $4 million. Compared to other cities, or even beachfronts, you get a lot for your money in a Lake Macquarie waterfront. But not all waterfronts are created equal, and buyers can have some very exacting criteria that impacts the price accordingly.
So, what makes a difference to price when you’re selling or buying a waterfront property on Lake Macquarie?
Well, we’re not just talking about the size of the house or the number of bedrooms and bathrooms when we look at a waterfront. Sale prices can depend on many factors including:
The block of land
It’s not only the size of the land, but also the slope which makes a real difference. Level blocks typically command a premium. Sloping blocks and those with older homes (that would need to be knocked down) will always vary the price.
The waterfront access
Waterfront living is also about waterfront access. So the configuration of this waterfront access matters. A jetty and a boat shed are amenities that most waterfront buyers are looking for, and are often the icing on the cake that can affect the sale price.
The prevailing wind is from the North East, and a lot of people prefer the North Eastern aspect – particularly those who like to sail. Sometimes water skiers prefer a Western aspect.
The type of waterfront the property has
If it’s an absolute waterfront you own right up into the water versus one that backs onto a waterfront reserve that is owned by the council where others may have a right of access.
The street frontage
Many properties have been subdivided over the years, which means that the waterfront may be a battleaxe block. While battleaxe blocks offer immense privacy, this can affect prices as not every buyer likes the lack of street frontage in a battleaxe.
The depth of the waterfront
Many buyers are very interested in the depth of the water at the end of the jetty. A metre, or metre and a half, is considered good for serious boaties.
The option for a swing mooring
Prices can increase a little in areas where you’re able to rent a swing mooring. These buoys don’t come included in the title of the property, but they can be rented from the Maritime authority for an annual fee in designated swing mooring areas. Buyers who want to have their boat moored right outside, rather than around the corner, may pay a little more if the property is in a swing mooring area.
So, who buys waterfronts on Lake Macquarie?
We sell some off market, and have a healthy list of buyers, often from Sydney or interstate, who have given us a menu of their ideal waterfront. We keep in close contact with them and let them know when properties become available.
Many waterfront buyers are mature families, buying the ultimate dream home.
Waterfront buyers tend to be very particular because they are spending decent money. They often want as many boxes ticked as possible, but the reality is that you can’t tick every box.
There are not many waterfronts, and they come on the market rarely, so when they do buyers often have to make a quick decision.
Lake Macquarie’s location is also a big drawcard. We are 90 minutes to the Sydney CBD, close to Newcastle, not far to the airport, Hunter Valley and Nelson Bay. People often commute to Sydney for work.
David, in your experience what does the perfect waterfront on Lake Macquarie look like?
The most popular waterfronts are ones on relatively level blocks with a house that has nothing to spend, or not a lot to spend. It will have a jetty and a boatshed, and come in under $2 million. That is a sweet spot, and a very popular type of property that usually sells fast.
That said, some people will consider an old fibro if they just want to be on the water, others will be willing to do a knock down and rebuild.
On the Western side of the lake, the properties close to the Swansea channel, where the pristine blue water goes out to sea, are very popular.
How do I find out about waterfront sales?
If you’re a buyer interested in finding out about waterfront sales in our area, register your interest by talking to us today.