2/99 Reddall Parade, Lake Illawarra NSW 2528
2/99 Reddall Parade, Lake Illawarra NSW 2528
Freestanding townhouse | 724sqm foreshore block | North-easterly breezes | Flood and bushfire overlays
This property is a rare freestanding residence on one of Lake Illawarra’s most desirable foreshore strips, offering a landholding size that is uncommon for townhouse-style listings in this precinct. The north-easterly orientation and direct connection to the lakeside path position it for buyers seeking immediate water proximity without the exposure and premium of a waterfront title. Its four-bedroom, two-bathroom layout with ducted air conditioning and built-in robes serves families or downsizers prioritising single-level convenience and outdoor space. The scarcity of similar freestanding configurations in this location gives a buyer reasonable negotiating leverage if the listing period extends.
The flood and bushfire overlays require careful due diligence, as they may restrict future renovations or increase insurance costs. The 1960 construction date suggests updating is likely needed, which can be an opportunity to add value through targeted modernisation. The minor land size discrepancy (724 versus 728m²) should be resolved via title search, and the generous lot may allow for extension subject to council approval. A buyer prepared to manage overlay-related risks could secure a property with strong long-term capital growth potential in a tightly held lakefront market.
Detailed Independent Property Report prepared by PropCred Analyst team for 2/99 Reddall Parade, Lake Illawarra NSW 2528
Checks found:
Value Risk
2
Liquidity Risk
Planning Risk
Income Risk
1
Execution Risk
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Market Insight
Lake Illawarra presents as a more affordable entry point within the Illawarra region, attracting first-home buyers and value-seeking Sydney purchasers drawn by lifestyle and government incentives. Demand is underpinned by tight inventory and strong rental fundamentals, though house price growth appears mixed while units face headwinds. Future performance hinges on sustained buyer interest in this corridor, yet is constrained by broader regional affordability pressures and a persistent shortage of new supply.
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PropCred Estimated Value
Bedrooms
4
Bathroom
2
Parking
2
Land
724m²
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