One bedroom beachside 'cottage' sells for $1.6m
A ONE bedroom one bathroom two car property has sold for an astounding $1.6m in New Brighton.
According to Realestate.com.au the property sold for $400,000 in 2004, however, when it sold again last year there was quite a jump in price going for a tidy $1,060,000.
But its owners barely had it a year before selling it on November 8 for a cool $1.6m - meaning the property's value increased by $540,000 in 12 months.
North Coast Lifestyle Properties' Adrian Howe, who was the selling agent for the property in 2017 and again this month, was unavailable for comment.
The Realestate.com.au advertisement for 45 North Head Road, New Brighton entitled Location Location Location stated: "This stunning cleared block has an existing cottage which is situated 20 metres from the beach, at the end of the iconic North Head Road within New Brighton. Beach side living within the Byron Shire is now available to you".
"The block provides you with unlimited potential to become creative, improve the existing property or build your dream home (STCA) - (Subject to Council Approval).
"The existing dwelling is private and stylish, ideal for a weekend getaway, and also provides you with plenty of parking for a caravan. Close to Byron Bay, Brunswick Heads and the beautiful Byron Shire.
"The Gold Coast airport is a simple 45 min drive for when you want to travel."
The sale comes on the back of the latest CoreLogic Market Trends which show - in 12 months up until June - the median sale price for New Brighton was $1,110,000 - up 30.6 per cent in 12 months.