KOTARA South has a new suburb record for a residential sale.
A split-level house at 19 Kirkdale Drive has sold for a record $1,405,000.
The sale broke the previous record of $1.29 million paid for a five-bedroom property on Kuranda Crescent in April 2021.
Selling agent Cveta Kolarovski from Cveta Property said the home was purchased by a local buyer and also attracted outside interest from Melbourne, Dubbo and the ACT.
Built in 2010, the house previously sold in October 2020 for $1,185,000, recording an increase in value of $220,000 in two years.
Set on 600 square metres and overlooking Raspberry Gully Reserve, the property featured four bedrooms, two bathrooms, three living areas, an office and an in-ground pool.
Ms Kolarovski said buyers were still out there but the market had shifted.
"We had lots of interest in this one but there is a little bit of a lack of confidence at the moment with buyers not knowing what's going to happen with interest rates," she said.
"There are still buyers out there and we are still getting good traction and there are still good results to be had in Newcastle."
She said that buyers are on the hunt for properties that require little to no work due to the rising cost of building materials.
"Anything that buyers don't have to do anything to, they walk in and walk out, it's sold," she said.
"Certain properties still attract high demand."
The median house price in Kotara South is $825,000, according to CoreLogic.
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