A one-bedroom unit in Bermagui has sold for $275,000, providing an affordable entry point into the South Coast property market. The sale price is well below the town's median unit value of $656,660, according to Cotality data.
The property, located at 11/120-122 Lamont Street, is on the second floor about 100 metres from the boat ramp and within walking distance to beaches. It was previously sold in August 2021 for $160,000 and had been listed for rent at $320 per week before the sale.
Selling agent Sandra Benny from Forbes Stynes Real Estate described the unit as 'like an old fishing house' and a 'good buy' at the entry-level. 'They don't come up very often at that price, so the buyer jumped on it pretty quickly,' she said.
The successful buyer, based in Canberra, plans to use the unit as an investment and likely renovate it. The property has since been listed for rent at $330 per week by the new owners.
Benny noted that Bermagui is experiencing strong demand from local downsizers and Sydney buyers. 'The market here is strong under $1 million. It's very price-driven at the moment,' she said, adding that the town attracts fishing enthusiasts and retirees from out west.
