Central Coast real estate specialist Paul Denny has taken over as owner of Raine & Horne Killarney Vale/Toowoon Bay just as the local property market begins to break records.
Mr Denny started in the real estate industry in 1983, beginning his career as a property manager in Bankstown. In the ensuing years, he has owned real estate businesses in Cronulla, before moving to the Central Coast in 1994 and becoming the owner of significant offices at The Entrance, Tumbi Umbi and Berkeley Vale.
Mr Denny said the markets in the 2261 postcode started to bounce back six weeks ago and now inquiries and sales numbers are up by 30 per cent compared to the middle of the year when the Reserve Bank began cutting interest rates.
“The combination of political certainty, the maintenance of property tax breaks, lower interest rates, and the loosening of bank lending caps have all contributed to improved market conditions, along with our postcode’s real estate affordability compared to suburbs such as Terrigal and Wamberal,” he said.
Raine & Horne Killarney Vale/Toowoon Bay recently sold a magnificent four-bedroom home with sweeping views of the Pacific Ocean at 116 Ocean Parade, Blue Bay for $3.3 million. This a street record for tightly held Ocean Parade, according to Mr Denny. The previous street record was $3.1 million set in 2017.
Mr Denny predicts suburbs within the 2261 postcode such as Bateau Bay, Killarney Vale, Shelly Beach, The Entrance, Toowoon Bay and Tumbi Umbi and Blue Bay will enjoy hotspot status in 2020.
Former Raine & Horne Killarney Vale/Toowoon Bay principal Craig Fisher is staying on as a sales agent, and Mr Denny is excited about building on the legacy handed to him by Mr Fisher.
“Craig has left us with a very good business to expand on. It has a very good property management business and a robust sales operation that we can build on, so it’s fabulous that Craig and his sales colleague Blake Gray will be staying on with us,” Mr Denny said.
“It is business as usual and we will continue to cover every aspect of residential sales including developments and off-the-plan sales, as well as property management.
“Whether it’s the sale of multimillion-dollar waterfront at Blue Bay or the management of an investment unit in The Entrance, we have all bases covered for owners, buyers, investors and tenants.”