A TWO-bedroom cottage in Carrington that sold for more than $1 million was among the weekend's auction results.
The renovated gun barrel-style home at 38 Denison Street sold via timed online auction on Saturday with Movable selling agent, Jason Maxwell.
Mr Maxwell said 12 bidders registered for the online auction after it was brought forward two weeks early.
It sold for $1,015,000.
The result was significantly higher than a pre-auction offer of $880,000 which the agent said was toward the top end of his appraisal price.
"It's a great result and I think it goes to show that people will go to pay good money for homes that are presented well," Mr Maxwell said.
"These owners really presented this property well.
"I kept saying to people who inspected it that, sure, it's a gun barrel, it's two-bedroom and it doesn't have any off-street parking but its comparison is apartments.
"If you look at two-bedroom apartments today, most are 75 square metres. This house is 102 square metres, so you're picking up something larger, it doesn't have strata fees and you own the land."
He said the fact the property was fully renovated worked in the owners' favour.
"The sellers bought it in 2018 for $690,000 and they did a really nice job of presenting it," he said.
"The market is good for the right property."
Auction clearance rates across Newcastle and Lake Macquarie recorded a slight uptick compared to last week, according to CoreLogic's preliminary results.
There were 24 auctions scheduled in the region during the week ending May 7 which recorded a clearance rate of 60 per cent, up from 55 per cent last week.
In Mayfield East, a renovated three-bedroom, one-bathroom home sold at auction with Wilton Lemke Stewart on Saturday.
Listed with a guide of $900,000 to $990,000, the property at 25 Henson Street sold under the hammer for $1,028,000 to a buyer from Manly who is relocating to Newcastle.
"Bidding started at $900,00 and went all the way to $1,028,000 so it sold above the price guide," Wilton Lemke Stewart selling agent Jesse Wilton said.
"We had five registered bidders and four of them were bidding.
"It was a nice, fast auction and we got to the reserve pretty quickly. The feedback throughout the campaign had been around $950,000."
The fully renovated home included a Caesarstone kitchen, air conditioning, plantation shutters and a Merbau timber deck at the rear.
Mr Wilton said the suburb was in high demand with buyers looking to secure a property in that price bracket
"Mayfield East is highly desirable in the $900,000 to $1.1 million price point," he said.
The biggest result at an auction on the weekend was in Floraville.
It topped Floraville's previous residential sale record set in November for an ultra-modern home at 7 Maria Court that sold for $1.95 million.
On Saturday, Spillane Property sold a three-bedroom, two-bathroom townhouse at 42/233 Hannel Street Maryville at auction for $1,075,000.
The property, located in the Regatta Quay complex, was listed with an auction guide of $910,000 to $990,000.
"We had an opening bid of $980,000 which was top of the initial guide and ended up selling for $1,075,000 to a young local family," Mr Skinner said.
"There were five registered bidders but it was only a two-horse race at the auction.
"The only parties that made bids were the successful party and a local person who is wanting to downsize."
The agent said the property's resort-style complex appealed to buyers and the listing attracted strong interest with some potential buyers inspecting the townhouse up to five times prior to the auction.
He said their auction numbers are holding strong.
"We are averaging six registered bidders at auction in this current market," he said.
At Adamstown Heights, First National Newcastle City listing agent George Rafty sold a three-bedroom, two-bathroom home in original condition at 189 Northcott Drive, Adamstown Heights at auction on Saturday.
Listed with a guide of $600,000 to $660,000, the auction attracted seven registered bidders.
The property went on to sell for $770,000.
At the time of publication, there were 23 auctions listed online to take place this weekend across Newcastle and Lake Macquarie.
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