Lismore’s exclusive heritage homes are in demand
ONE was built in 1905, the other is even older.
Yet the two unique heritage properties in the select Girards Hill area of East Lismore have sold in quick succession for upwards of $700,000
The five-bedroom Travallion, at 69 Cathcart St, sold for $750,000 while a similarly well-kept three-bedroom period home at 7 Darsham Ave is now under contract for $740,000.
Built in 1905, Travallion was the family home of original Lismore architect Frederick Board and featured all the trappings of the original Federation style in an enviable position.
Selling agent Katrina Beohm described it as "one of a kind".
"There's going to no home like that ever again," Ms Beohm said. "It was very deserving of that price"
The 120-year-old Darsham Ave was also a classic - set on almost 3000sqm of secluded elevated land, with both garden and home immaculately maintained.
Both homes also sold quickly for the Lismore market - negotiations over 7 Darsham Ave commenced just a week after listing, and it sold for the full listing price.
Ms Beohm the quick sale of Darsham Ave was no accident. There were also three other buyers offering more than $700,000 for the property within the first week.
"It wasn't surprising because the presentation was just first class," she said.
"It was a credit to the vendors for the work they have done over the last 30 years for the work they did to preserve and maintain the property."
Interestingly, the buyers of both homes came from outside of the region - one from Sydney, the other from Canberra - but were planning on relocating here to be closer to family members who lived locally.
Beyond Girards Hill - always seen as a reliable investment due the limited number of homes, north-facing aspect and proximity to the Lismore CBD - the wider Lismore market has been buoyant over the last 12 months.
"What we're finding is properties moving a lot sooner, stock levels are lower, and demand is still strong," Ms Beohm said.
"It's been very obvious in the last few months".
Agents are also finding they are obtaining listing prices more often than what they were.
Continued low interest rates have meant finance has been readily obtainable for buyers, and incentive to pay down mortgages faster.
Ms Beohm said it was also "very rare" now that valuations weren't approved by the bank.
Gary Wells from Wal Murray First National in Lismore said agents across town were dealing with lower stock levels, a sign the market was tightening.
"The only thing keeping us back is we need more stock. If you've got the stock, the sales are certainly happening," Mr Wells said.
The outlook for the Lismore property market is good, with the hospital expansion and ongoing new land releases both a good sign for local jobs.