Redhead beach block worth millions, 32 years after $165k sale
Property sold for $165,000 in 1994; similar local sites have recently sold for $3.35 million to $3.4 million.
A two-bedroom house on almost 800 square metres at Redhead returned to market this week after 32 years off the market. The block at 4 Ebsworth Street has triple access from the front, side and rear lanes, making it ideal for a large family home, two or three townhouses, or a granny flat.
The block sits 450 metres from Redhead Beach and is surrounded by new and renovated homes. Recent comparable sites have sold for $3.35 million and $3.4 million as knockdown rebuilds.
The median house value in Redhead is $2.145 million. The property goes to auction on October 15, with the listing agent reporting strong off-market interest from local and Sydney buyers.
- $165,000 in 1994
- Sale price 32 years ago
- $3.35 million to $3.4 million
- Recent comparable sales
- $2.145 million
- Median house value Redhead
- 9.4 percent
- Redhead annual growth
Why it mattersShows rapid property appreciation in premium coastal suburbs; reflects strong ongoing demand for development-ready sites even during broader market downturns.
AustraliaIllustrates tight supply of large development blocks in sought-after Newcastle beachside suburbs and the scale of price growth for well-positioned properties.
✓ Claims checked against the source and corrected before publish. checked 1 d ago
