Beach versus Bay

A common discussion with clients – and amongst ourselves – is which side of Killcare is preferred, beach or bay. Many people prefer being located close to the energy of the beach and/or views of the ocean whilst others prefer the serene bay side views and/or being closer to the restaurants, cafes and shops. So this week we thought it might be interesting to see what the sales data tells us.

Methodology was to take the last 3 years of sales, ending September 2012, for all Killcare and Killcare Heights houses east of The Scenic Road and compare to those on the Western side in Killcare and Hardys Bay as far as Heath Road. Related party transactions were excluded. The results ?

• There were 62 sales with a total value of $52.04m on the beach side and 51 sales worth $38.04m on the bay side.
• This is an average sale value of $867,410 beach side against $745,863 bay side.
• Median sale however was lower on the beach at $720,000 against $765,000 on the bay.
• The highest sale was $2.34m on the beach against $2.13m on the bay.

So I think we have to conclude the beach side has, recently at least, been valued higher although there isn’t much in it.