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Central coast home jumps by $4 million in 18 months

A luxury home for sale on the Central Coast is set to soar $4 million in value in less than two years, highlighting the surge in demand for properties in the area.

The Hamptons-style mansion at 6 Bulkara St, Wagstaffe, is for sale via expression of interest with a price guide of $13.5 million. It will become the most expensive home on the Central Coast if it reaches that figure.

The 2190sq m waterfront property last sold in 2020 for $9.5 million, which was a Central Coast record at the time.

Central Coast Belle Property Principal Cathy Baker said the rapid increase in the value of the property is a reflection of the demand on the Central Coast.

“Everything has really changed with the lifestyle market, with COVID-19 allowing people to work from home, people not travelling overseas and heavily investing into lifestyle properties and holiday homes,” Mrs Baker said.

“Combined with low interest rates, these things have changed the lifestyle market to make it the very best I’ve ever seen in 12 years.”

Mrs Baker previously sold the luxury home off-market in the early days of COVID-19 induced lockdowns, but a lot has changed since then.

“The property and the land and the position, combine to make it a very exclusive property along the East Coast,” Mrs Baker said.

“Based on the climate at the time and the owners request for a discretionary sale, that’s how it came to sell back then.”

Mrs Baker said the lifestyle market on the Central Coast is still as buoyant as she’s ever seen it.

“We’re still quite low on stock in terms of supply because of the abundance of sales,” she said.

“Buyer demand is the best we’ve seen for lifestyle properties in the $10 million to $15 million range, which is still seeing strong demand. The Central Coast has nearly become the ‘Upper Upper North Shore’.”

Spread across two levels, the home features seven bedrooms, each with an ensuite, a gourmet kitchen with designer appliances, high-tech media room, a custom-designed playground and bunk room, a walk-in cellar and private boat shed with jetty and mooring.

There’s also an outdoor entertaining area with barbecue, infinity pool and timber deck.

“You can’t beat the location, aspect and size of this incredible waterfront property,” Mrs Baker said.

“Built on nearly 2200sq m of prime, north-facing, deep-water land on the doorstep of beautiful Bouddi National Park, 6 Bulkara St is a rare gem that offers the finest in luxury waterfront living.”

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Rowan Crosby

Rowan Crosby is a freelance journalist specialising in finance and real estate.