The new owners of a $3.5 million Bar Beach home will lease it out before undergoing a knockdown-rebuild.
A 1930s Art Deco home at 4 Tooke Street attracted five registered bidders before selling to a Speers Point family.
It had been in the same family for more than 60 years.
Walkom Real Estate's Kate Rundle had been guiding $2.9 million to $3.2 million for the four-bedroom home on a 610 square metre block.
"In Bar Beach they're so tightly held," Ms Rundle said.
"You might have to wait another 60 years to find something like it."
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Ms Rundle said she couldn't foresee the market cooling off in in-demand areas such as Newcastle East, Bar Beach and Cooks Hill.
"I think there'll always be good stiff competition for properties like that," she said.
Ms Rundle has also sold 47 Corlette Street ($1.7 million) and 78 Laman Street ($1.05 million) in Cooks Hill before auction this month, while 13 Hebburn St, Hamilton East also sold prior to auction for $2,250,000.
In Marks Point, a two-bedroom waterfront property at 15 Marks Parade sold for $1.8 million at auction with LJ Hooker's Joshua O'Doherty.
It was the biggest price paid for a two-bedroomer in the suburb, and Marks Point's fifth-highest sale overall.
A mammoth 72 bids were made as four parties squared off for a dual-living, six-bedroom property at 18 Grovelake Close, Eleebana.
Configured to operate across two self-contained levels, the home boasted five-car garaging between its front and rear access points.
It sold to locals for $2.21 million, which was well above the $1.75 million guide.
"With the uniqueness and the garaging and the families we had on it that could find anything else similar it doesn't surprise me," Belle Property Lake Macquarie's Sarah Bennett said.
"It was appealing to blended families or people living with their parents."
Belle Property Lake Macquarie's Anthony Di Nardo also sold a renovated, four-bedroom home at 14 Farm Street, Warners Bay for $1,805,000.
Dudley's 19 Seacourt Avenue sold under the hammer with Belle Property Newcastle's Katie Kepner for an undisclosed price rumoured to be $1,875,000.
According to CoreLogic's preliminary results, Newcastle again recorded one of the nation's highest auction clearance rates.
Its 88.1 per cent figure for the week ending November 21 was well above the national rate of 74.5 per cent.
