Dee Why has a new residential suburb record with the off-market sale of a headland home for just shy of $10m.
The oceanfront home at 14 Summit Ave quietly sold to expats for a confidential sum but it is believed it is at least three timesthe $3.03m figure which the Stokes family paid for the five-bedroom double-brick home in 2014.
A spokesman for Max Walls International confirmed the 765sqm cul-de-sac property did trade but couldn’t comment on the sale except to say there was a growing number of Australians living overseas who were returning home after the pandemic and looking to secure premium Sydney property.
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“In Dee Why they are looking from Molong St to Monash Pde and they have up to $15m American dollars for the right property,” the spokesman said.
Robert Klaric, The Property Expert buyers advocate, was more forthcoming saying he was engaged by the purchaser to find a front row headland property.
And he added that the Dee Why purchase was good buying compared to some of the prices achieved in Bower St Manly where much of the land is leasehold.
“Dee Why has come a long way and it is freehold land not leasehold,” he said.
The previous record for Dee Why was $8.05m set in June 2021 for 7 Lookout Ave, another oceanfront headland property at the end of a cul-de-sac one street away from Summit Ave.
Originally published as Dee Why oceanfront home sells for about $10m, three times what the owners paid eight years ago
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