The sale of a luxury lifestyle property is believed to have taken Elermore Vale over the $2 million mark.
LJ Hooker Belmont's Joshua O'Doherty marketed the five-acre property at 22 Paddock Close through an expressions of interest campaign.
It featured a stunning five-bedroom, three-bathroom home built around five years ago, a resort-like swimming pool, three-car garage and large separate machinery shed. It was secured for an undisclosed sum but the Herald understands that figure was strongly into the $2 million range.
The contemporary residence featured a parents' retreat with luxury ensuite, living space and private balcony, spotted gum flooring, floor-to-ceiling glass, an array of indoor and outdoor living spaces, plus a custom-designed kitchen with an oversized butler's pantry and separate bar.
According to Australian Property Monitors data, only a handful of residential properties in Elermore Vale have sold over $1 million.
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Quick mover in Mayfield shows demand
Ryan Gifford, of Dotcom Property Sales, says the quick sale at the top of the guide of a Mayfield home was "a good example of how hot the first home buyer and investor market is in the $500,000 to $600,000 bracket, especially in Mayfield and the surrounding suburbs".
Mr Gifford marketed a three-bedroom home at 46 Nevill Street with a guide of $540,000 to $560,000. He reported over 40 enquiries in its first week on the market with three offers within the price guide prior to the first open house.
In all, it was marketed for eight days before being bought for $600,000 by a young first home buyer couple. Mr Gifford reported 52 groups through the first open home with 14 offers from 14 separate parties by the end of that day. He said interest was a mix of first home buyers and investors.
The home was on a 468 square metre corner block.
The Angel Islington selling well
First National Newcastle City reported a lot of interest in boutique development The Angel Islington, which is being sold off the plan.
Agents George Rafty and Luke Murdoch said 30 per cent of the 17 apartments available at 1-3 Fern Street had been sold in 30 days with interest in the complex coming from predominantly local buyers.
"Off-the-plan sales were fairly slow last year but we've had a pretty good start to this project of only 17," Mr Murdoch said. "Interestingly, a lot of people who live in the block next door have come to have a look at it which shows it's a good place to live. It has access to the harbour, Beaumont Street cafes and restaurants, and is close to Islington Park."
Prices start from $549,000 for two-bedroom apartments and from $375,000 for one bedrooms. There is also the option of a there-bedroom floor plan.
The Angel Islington is being developed by Newcastle companies Olive Tree Projects and Plan Manage Construct, who also teamed up to deliver The Hive Wickham.
EJE Architecture have designed the five-storey building, which will comprise 17 apartments at 1-3 Fern Street. It will have the words 'Iso' and 'Angel' incorporated into its facade in a nod to a "vibrant" suburb known for its street art.
