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Posted: Tue, 07 Mar 2017 06:00:03 GMT

AFFORDABLEHOUSING

HOUSE prices near the new northern beaches hospital are showing some very healthy capital growth, with a home just 650m from the hospital selling well above expectations at the weekend.

The median house price for Frenchs Forest is $1,502,500, according to CoreLogic RP Data, but a clutch of houses have sold for at least $1.72 million this year.

The latest was

30 Rabbett St

, a three-bedroom house on a 697sq m block and a busy road held since 1963.

One of the closest houses to the new Northern Beaches hospital, 30 Rabbett St, Frenchs Forest, was auctioned over the weekend. Source: News Corp Australia

Agent Nicky Whisson, of LJ Hooker Frenchs Forest, said the market feedback was between $1.55 million to $1.7 million.

However, on Saturday the opening bid was $1.65 million and it sold for $1.81 million to a couple from Lane Cove.

The winning bidder from Lane Cove who has been looking in the area for some time. Source: News Corp Australia

Three months ago, the house next door at 28 Rabbett St sold for $1.475 million.

In the pocket just north of the hospital, 9 Moonbi Cres sold for $1.72 million and 8 Epping Drive went for $1.855 million.

Ms Whisson said homeowners had been holding off from selling until the draft structure plan was released, showing which areas might be rezoned.

Number 30 Rabbett St, French Forest which is 650m from the new hospital, as the crow flies. Source: Supplied

Held by the same owners since 1963, number 30 Rabbett St, French Forest sold for $1.81 million. Source: Supplied

“People were just starting to feel settled and confident about selling when we had a curve ball with (Health Minister and Wakehurst state Liberal MP) Brad Hazzard saying spreading out the development footprint was needed,” she said.

“That has unsettled everyone again.”

Mr Hazzard said only last week that there was a need for greater building density around the new hospital in order to house more key workers.

He said the plans needed to permit higher buildings spread out over a wider footprint.

The northern beaches notched up a high auction clearance rate over the weekend, with 55 properties offered. Twenty-two sold early, 27 sold on the day, five passed in and one was withdrawn.

The clearance rate for the northern beaches was 90 per cent compared with 81 per cent in Sydney as a whole.

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