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Newcastle Herald
Newcastle Herald
National
Hamish Geale

Port Stephens 'going mad' as two-bedroom homes command huge prices

Two-bedroom homes commanded huge prices as Newcastle again recorded one of the best auction clearance rates nationwide.

As CoreLogic reported declining clearance rates across the country, Newcastle recorded an 82.9 per cent clearance rate for the week ending November 7.

Meanwhile in Port Stephens, a charming two-bedroom, one-bathroom home at 20 Tomaree Road, Shoal Bay sold for $1,585,000 under the hammer following bids from five different buyers.

Just a short walk from Shoal Bay Beach, the 575 square metre property had interest around $1.3 million during the campaign.

It sold to country buyers, who fought off Sydney and local underbidders.

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First National Port Stephens' Rebecca Dean said the property had interest both as a holiday home and a holiday rental.

"It was cute as cute - it just had that thing about it," Mrs Dean said.

"The market's really strong at the moment and it was something pretty different to everything else available.

"That [price] was not our expectation, but it's not surprising because of what's going on in our market at the moment - Port Stephens is going mad at the moment."

The sale was Shoal Bay's third biggest for residential properties, and the only two-bedroomer to have sold in the suburb for seven figures.

2 Robert Street, Mayfield.

Two-bedroom homes in Mayfield have been selling for as much as $900,000 in the past few months, and the weekend saw another good result at 2 Robert Street.

The unrenovated property on 319 square metres sold for $825,000 at auction following feedback in the mid-$700,000s during the marketing campaign.

Movable's Jessica Molan said a Northern Territory couple had purchased the home after their mum inspected the property in its first week.

"Mayfield's super popular but the prices are all over the place - it depends which pocket of Mayfield you are in," she said.

"Different little pockets command different prices."

2 Robert Street, Mayfield.

Another two-bedroom, one-bathroom property in walking distance to Waratah train station at 20 Scholey Street sold prior to auction for $790,000.

First National Newcastle's George Rafty had two four-bedroomers in The Junction sell prior to auction.

A brick home with modern extensions at 181 Corlette Street sold for an undisclosed amount after having interest in the vicinity of $3.4 million to $3.7 million.

At 11 Ravenshaw Street, a circa-1886 Victorian terrace sold to a young Newcastle family for $2.63 million.

The sale also marked Mr Rafty's 100th of 2021.

"The Junction's the flavour of the month because of the lifestyle that it offers and both properties were exceptional homes," he said.

29 Kendella Parade, Kahibah.

PRD Inner City's Jesse Wilton reported several strong results, including the $1,255,000 sale of 1/19 Dawson Street, Cooks Hill to a Sydney buyer with Newcastle links.

The circa-1910 weatherboard terrace had a guide of $1 million to $1.1 million and last sold for $590,000 in 2015.

A three-bedroom weatherboard home at 37 Ella Street, Adamstown sold within three days for $1.53 million, while Tom Lemke had about 10 registered bidders fight it out for 29 Kendella Parade, Kahibah.

The four-bedroomer on 841 square metres sold for $1.25 million, becoming the suburb's 13th million-dollar sale since seven figures was first reached in November 2020.

"That's a great price for Kahibah - that's raising the price again," Mr Wilton said.

"It's a new era for prices in that area."

7 Gouburn Street, Dudley.

There was also a big result in Dudley as the four-bedroom home at 7 Goulburn Street sold at auction for $3,515,000.

The property, which was sold by PRD Newcastle, sat on a 1518 square metre block and had ocean views from most rooms.

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