In Oak Flats, a record-breaking sale occurred with a two-bedroom villa at 1/16 The Esplanade fetching $865,000, a suburb record, after being on the market for 28 days.
The sale was handled by Nathan Campbell, a Sales and Project Development Executive with Illawarra Estate Agents. Nathan’s track record includes recent villa sales in Oak Flats, such as three brand-new villas sold off-market on Watson Street and unit 3 in the same Esplanade block earlier this year.
Preparation key to success
Campbell said the campaign’s success hinged on meticulous preparation. The vendors replaced the oven and cooktop knobs to ensure buyers could move in with zero maintenance.
“Getting those little maintenance items out of the way that you may have been putting off will ensure that you get the right result, reducing your days on market,” Campbell said. He emphasized that such efforts are key in today’s market to minimize exposure to potential risks.
The vendors also thoroughly cleaned the unit, ensuring a spotless presentation. “My owners cleaned this unit from top to bottom to make sure presentation was absolutely spotless, faultless, and as new,” Nathan added.
Key features attract buyers
“The key element for success here was not only the great natural light the property had and the covered alfresco area, but also the double garage, which is a real rarity,” Nathan said. Other inspecting buyers also praised the cozy internal floor plan, which prioritized outdoor living areas, aligning perfectly with the lakeside lifestyle.
The villa’s lakeside location and cozy floor plan appealed to buyers, with the property sitting directly opposite the lake and Panorama Oval just 50 steps away. This prime location is particularly attractive to retirees and downsizers seeking a tranquil yet convenient lifestyle.
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The successful purchasers were a local couple from one suburb over who valued the property’s outlook and double garage. Their familiarity with the area and specific requirements made this property an ideal match.
Strategic marketing pays off
Campbell’s marketing strategy combined database outreach with premium advertising and a marketing video. This multi-faceted approach attracted buyers from beyond the immediate area, ensuring maximum exposure for the property.
The winning buyer came from Campbell’s existing database. “Whilst we already had an active buyer pool and a quality database of our villa buyers, it was important to make sure that we went a little bit further afield to ensure we got the best possible result,” he explained.
For the vendors, the sale marked the next chapter of their retirement strategy. They purchased the villa brand new in 2018 through Nathan and had family living there over the years. “Bringing this property to market was a bit of an emotional one for my vendors, having purchased it originally as part of their broader retirement strategy,” Nathan said. “The home was just more than an investment. It was a really important part of their family.”
Market insights and advice
Oak Flats’ unit market has shown solid momentum, with values up 11% over the past 12 months. Villas, however, remain rare stock in the suburb, making them highly sought after by specific buyer groups.
The settlement required patience while the purchasers finalised their own transaction, but the outcome has enabled the vendors to move forward with retirement travel plans. For more information or to contact Nathan, visit his website or call him on 0488000663.
