Luxury waterfront and acreage homes on offer with discounts of up to $2.3m

This luxury Bayview home is listed via EOI at $5.9m, $2.3m below the original listed price.

Luxury waterfront and acreage homes are being offered with as much as $2.3 million cut off the price as COVID-19 depletes the pool of big-spending buyers.

The deals are giving buyers the opportunity to snap up premium homes at prices that wouldn’t have been possible before the pandemic hit.

One of the biggest discounts is on a six-bedroom house in northern beaches suburb Bayview that includes a swim-in bar, views over Pittwater and a 10-seat home theatre.

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The triple-level house on Pittwater Rd was first listed at $8.2 million but is now listed through an expressions of interest campaign at $5.9 million.

Another waterfront property in nearby Clareville was dropped to $5.7 million after originally going to market with a guide of $7 million.

The price for this Manly house on Augusta Rd has dropped $500,000.

The three-level house on Hudson Parade is serviced by a lift and the bedrooms have walk-in wardrobes.

Other significant property discounts ranging from $400,000 to $500,000 are being offered for luxury homes in Manly and northwest suburb Kenthurst.

Real estate experts said Sydney’s most discounted properties were often those originally priced between $2.5 million and $5 million.

This Clareville house is discounted by $1.3m.

These properties were a harder sell because buyers were becoming more cautious about taking on larger debts during the coronavirus crisis.

The typical market for these houses were also “aspirational purchasers” who wanted to upgrade to a luxury lifestyle but did not have an impending deadline motivating the purchase.

This meant they were happy to sit on their hands and get more certainty about the economy before making a move.

This house on Arnold St in Killara had more than $250,000 cut off the price.

These buyers were in the opposite situation to the buyer group who have been most active during the pandemic — families who have outgrown smaller units and urgently need space.

The result was that properties priced in the middle of the Sydney market, roughly $900,000-$1.5 million, were rarely heavily discounted.

Sydney’s prestige market in the eastern suburbs was not as affected either — there have been multiple $10 million-plus sales since the pandemic started — because ultra-wealthy expats were returning.

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Many of these buyers paid for their homes in cash and didn’t need a mortgage.

This Sandpiper Place home in Kenthurst was listed at $2.795m but is now $2.395m, a drop of $400,000.

Property Buyer director and buyer’s agent Rich Harvey said discounts varied considerably by suburb.

“Every property is being discounted to a degree but they are not as large in the eastern suburbs or lower north shore,” Mr Harvey said.

Coastal suburbs in Sydney’s north were a different story, he said. “The prices in areas like Palm Beach tend to fluctuate a lot … there would be less demand in the current market.”

The Bayview house discounted by $2.3m includes a larges games room and swim-in bar.

Ray White-Erskineville agent Ercan Erscan said buyer interest for homes priced above $2 million was weaker even in perennially popular regions like the inner west and Sydney’s inner south.

“There are still a lot of buyers once you get below $1.8 million,” he said.

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John Bateman has a $2.3m offer after rejecting Canberra Raiders

John Bateman is leaving Canberra at the end of the year but is yet to finalise his next destination.

The Raiders confirmed yesterday their English import won’t be with the club in 2021, despite being contracted until the end of next season.

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Bateman was agitating for a pay rise and exploring his options after the Raiders’ offer of $750,000-a-season, up from his initial deal of $580,000-a-season, reportedly wasn’t deemed sufficient for the 2019 Dally M second-rower of the year.

Bateman now needs to decide whether to stay in the NRL or head back to the UK Super League.

Daily Telegraph rugby league reporter Dean Ritchie said the Bulldogs are willing to make a lucrative play for the 26-year-old to keep him Down Under.

“The Bulldogs’ offer is three years, worth about $2.3 million, which works out to about $780,000 per year,” Ritchie said on the Big Sports Breakfast.

“It’s a fraction under the $800,000 (a season) he thought he’d get.

“The last time I checked in with St George Illawarra, they hadn’t lodged a formal offer but they were very closely monitoring the situation.”

A return to his former club Wigan would see Bateman reunite with his young daughter, who has continued living in England while he represented the Green Machine. But the money on offer in the UK isn’t as good as what he can earn in the NRL.

“All clubs in England have been slashed from their grant from Super League because of COVID so I think you’ll find the big money is drying up bit by bit,” Ritchie said.

“So the Wigan offer for four years is worth about $2 million. That’s only $500,000 a year.

“However, it does mean he can go home to the club where he’s won two grand finals and of course be reunited with his young daughter.”

Bateman has said previously he wants to strike a deal that’s best for his family, keen to set his daughter up financially.

Bateman was a key cog in Canberra’s run to last year’s grand final but is yet to play in 2020 because of a shoulder injury.

Raiders coach Ricky Stuart blasted Bateman’s manager Isaac Moses yesterday after learning his star recruit was bailing early, but commended the club for not bowing to the player’s demands.

“I am proud of the club that they put a timeline on him,” Stuart said.

“We knew what was going to happen and to (CEO Don Furner) Don’s credit he put a timeline on his manager and we got what we knew was coming. It’s really disappointing.

“John is a big part of the squad and he’s a world class player so to lose him really disappoints me because we here at the club have worked so hard to build a strong roster.

“And then you have players getting pulled out of it the way John has, (it’s) really disappointed me.

“It disappoints me the way the game allows it. I feel as though the game really needs to help clubs in regards to how we have to deal with certain managers over the way they agitate clubs and how they manipulate communications and negotiations to suit them and them only.

“It’s not always in the best interest of the player and it disappoints me because its so hard to build a strong roster.”

Earlier this year Bateman repeatedly denied he was seeking a release from Canberra, hitting back at reports from Fox Sports’ chief NRL reporter James Hooper.

“Never once have I asked for a release, bulls*** story,” Bateman tweeted in May in response to Hooper’s report.

“Never once have I asked for a release (and) neither has my management,” he added in a separate statement before the season restarted after the coronavirus-enforced break.

“I love the Raiders and want to be here. So settle yourselves down and let’s get talking about the season starting back up.”

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