COMPETITION proved strong at auction for a property at 10 Sun Hill Drive, Merewether Heights last week and a new street record was set in the process.
Five bidders were registered at the auction for the renovated four-bedroom property listed with Chasse Ede and Craig Rosevear of PRD Presence.
"We had over 60 groups of buyers throughout the campaign," Mr Ede said.
"Buyers were attracted to the move-in-ready nature of the property as it was completely renovated and enjoyed a lot of natural light.
"The auction started at $1.8 million and had active bidding from all parties and finished at $2,005,000 with auctioneer Damien Cooley."
The sale marks a new street record which was previously set in July last year when 60 Sun Hill Drive sold for $1,727,500.
The home last sold in 2008 for $455,000.
Also in Merewether, Newcastle artist Mitch "Revs" Resevsky has purchased a house on Macquarie Street for his growing family.
Revs and his partner Emily Bell bought the 1970s four-bedroom, two-bathroom home for $1,617,000 through Simon Wall Property.
The "fixer-upper" home sits high on the street and boasts ocean views across toward Bar Beach and Merewether.
The purchase comes after Revs sold his two-bedroom renovated weatherboard cottage on Glebe Road at The Junction at auction for $1.5 million earlier this month with Green St Property.
