A Merewether Heights home sold for $550,000 more than it sold for last year, as Newcastle recorded one of the best clearance rates (87.5 per cent) around the country.
The three-bedroom house at 40 The Quarter Deck sold for $1.55 million at auction on Saturday, also matching a street record set by number 32 last year.
McGrath Newcastle City's Tammy Hawkins said the property, which had a guide of $1.3 million, had undergone some cosmetic changes since selling for $970,000 in July 2020.
"It went substantially over our expectations, it ended up going to some local buyers," Ms Hawkins said.
Another Merewether home - a three-bedroom entertainer at 84 Kenrick Street - had 75 groups through for inspections before selling under the hammer on Saturday.
The price was undisclosed, but is rumoured to be more than $2.3 million.
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Another $1.55 million sale - this time in Lambton - saw a four-bedroom home break its own street record.
First National Newcastle City's Mathew Iuliano had four registered bidders for 34 Chilcott Street, which was last sold for $1,365,000 in 2018.
Only two other homes in the street have eclipsed the $1 million mark.
A two-bedroom Charlestown townhouse marketed by Belle Property's Anthony Di Nardo sold for $700,000 at auction.
The property, located at 3/244 Charlestown Road, had a guide of $640,000.
In the city, an even $2 million was paid for a three-bedroom apartment at 401/58A Bolton Street, Newcastle.
The property was meant to go to auction, but was snapped up in its first week on the market by a local downsizer looking to "keep a bolt hole in Newcastle while they travel".
PRD Inner City's Jesse Wilton said the sale highlighted the value of location.
"It gives confidence to apartments without views because it doesn't have a direct view," Mr Wilton said.
"It shows how strong the location is - one block back from the beach, accessible to al the cafes, schools and lifestyle - that's why people are buying these properties."
