Runaway Bay sellers should avoid applying one suburb-wide figure to very different properties. Apartments, conventional detached homes and higher-value waterfront-style residences can each sit within separate buyer and valuation categories.

Recent apartment sales provide a useful example. A two-bedroom apartment at 8/106 Bayview Street sold for $830,000 on 4 September, while the two-bedroom apartment at 103/1 Lee Road achieved $920,000 on 3 September. Several other two-bedroom apartment transactions during the same period had their prices withheld.

Detached homes provide a different comparison. The three-bedroom house at 35 Clam Street, positioned on 549m², sold for $1.128 million on 9 September. At a substantially higher level, the five-bedroom home at 8 Pebble Beach Drive sold for $2.97 million on 15 September.

For owners, those transactions highlight two important points. First, property type needs to be established before comparable sales are selected. Second, not every detached home should be compared with the highest-value house sale in the suburb.

Water access or outlook, land size, renovation standard, accommodation, garaging and presentation can all influence which sales are relevant.

A considered Runaway Bay property appraisal should therefore narrow the evidence down to the properties most similar to yours before considering how to position the home for market.

Frequently Asked Questions

Are Runaway Bay apartments and houses separate markets?

They should generally be assessed using separate comparable evidence.

Does waterfront influence property value?

Waterfront or water-related positioning can change the relevant comparison group.

Can withheld sales still help?

They may provide context, although the undisclosed price limits their usefulness.

Should I use the highest suburb sale?

Only if the property is genuinely comparable to yours.

If you are considering selling in Runaway Bay, speak with:

Steven Norton – 0488 496 777
Lawrence Norton – 0415 279 807
nortons.re@gmail.com
www.nortonsrealestate.com

Disclaimer:
This article is general information only and does not constitute legal, financial, taxation, planning, valuation, or property advice. Any commentary about likely buyer behaviour, campaign strategy, pricing, negotiation, or sale outcomes is general in nature and may not apply to your property or circumstances. You should obtain independent professional advice and a tailored appraisal before making any property decision.