Rare land in Port Elliot fetching big bucks as demand explodes – realestate.com.au

Demand for homes in Port Elliot has exploded in recent years as people turn to the coastal hotspot for holiday homes, but now there is rare land on the table and they are willing to pay big bucks to secure it.

Two tightly occupied vacant blocks in the south coast town have been bought up in recent weeks for premium prices.

Local agents say they are so popular because vacant properties in the area are so rare, especially in the heart of the holiday hotspot.

One in 22 Strangways Tce, which has had one owner for the past 30 years, recently sold at auction for $1.575 million – well above Port Elliot’s average house price of $996,250.

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The vacant block on the a22 Strangways Tce recently sold for $1.575 million.

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The sellers had owned it for more than 30 years.

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Selling agent Tania Vriends, of Ray White Goolwa/Victor Harbour, said its corner position on two titles of more than 725 sq m within walking distance of the popular Horseshoe Bay beach made it particularly attractive.

“That little bit of Port Elliot is quite a closed enclave, so there’s not really much for sale there,” she said.

“I definitely had a lot of questions.

“I think there are only two other empty spots left now, even if they are just single titles.

Ms Vriends said Alexandrina Council was strict when it came to subdividing properties, so the fact it offered two titles was a major draw.

“They don’t want blocks that small,” she said.

“It’s already separated, it’s subdivided. Even though it was sold as one parcel of land, the buyers can immediately split that.”

The buyers who bought the land intended to develop it, with Ms Vriends explaining that they would quickly make their money back if they built two properties.

“The properties would probably sell for $2 million each,” she said.

Another Port Elliot property on 596 sq m at Lot 2 Ocean Rd, which property records show had one owner for 22 years, sold a few weeks earlier for $1.825 million.

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The beach block at Lot 2 Ocean Rd was also recently sold.

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It has beautiful uninterrupted views of the ocean.

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Although slightly further away from the heart of Port Elliot and Horseshoe Bay, it is located on the beach with uninterrupted views of the ocean.

Meanwhile, a block further inland near Port Elliot Rd at 28 Handby St sold for $620,00 in October and a 1106sqm block at 17 Port Elliot Rd is listed with a price guide of $595,000 to $645,000.

Mark Forde, director of Harris South Coast, said demand for land was increasing across the city, but its position was everything.

“The reality is that Port Elliot is not that big … and it is seen as the jewel of the south coast because of its village lifestyle and Horseshoe Bay,” he said.

“If you look at the waterfront or the coastal side of Port Elliot Rd, there’s not much that shows up.

“It’s just a finite product.”

According to the latest data from PropTrack, the average house price in Port Elliot has increased by 19 per cent in the past year and 10.5.4 per cent over the past five years.