WHAT does $1 million get you in the Newcastle property market?
Not so long ago a million bucks could fetch buyers an impressive piece of real estate.
However, $1 million doesn't stretch quite as far these days after property prices skyrocketed following the onset of the pandemic in 2020.
So, what can you get for that sum in 2023?
TaylorHedley Property agent Sam Taylor said $1 million can still buy "the quintessential Australian dream" of a spacious, modern family home on a decent-sized block if purchasers but it all comes down to location.
"It depends on the location," Mr Taylor said.
"In the western ring east of the Hunter Expressway, $1 million can get you a really nice four-bedroom, two-bathroom modern home on a 600 square metre block which is essentially the quintessential Australian dream.
"The further you get toward the more affluent suburbs or Merewether and inner city Newcastle, it goes from a four-bedroom, two-bathroom home to a two-bedroom apartment.
"In terms of the quality of house that you get for $1 million, Cameron Park and Fletcher are the two picks.
"Those same houses 10 kilometres further east will cost you $1.5 million to $2 million for the same quality of property."
Here are three properties on the market for sale for $1 million and under.
13 Oregon Avenue, Fletcher
This three-bedroom, two-bathroom home on a 720 square metre block in Fletcher is located about 30 minutes from Newcastle CBD.
Custom built by the owner in 2008, the home features finishes including timber flooring, high ceilings and Merbau decking in the alfresco area.
"It is one of the biggest three-bedroom homes in Fletcher that I have seen in the suburb," TaylorHedley Property listing agent Sam Taylor said.
"It also has three-car garaging and while Fletcher is predominantly driven by families, because of the configuration of this property and the three-car garage it actually lends itself to a downsizer.
"It's a big bedroom home but it's low maintenance so they can still have all the room to entertain family and friends, park the caravan, but they don't have to be in a position where they have an exceptional amount of maintenance of an older property."
The property includes an open-plan living and kitchen that flows out to a large barbecue entertaining area with an outdoor rangehood and sink.
224 Wallsend Road, Cardiff Heights
This four-bedroom, two-bathroom home constructed in 2010 by McDonald Jones Homes offers spacious family living in a central location with a price point that sits around the $1 million mark.
Listed with a guide of $1 million, the property is set to go to auction on May 13 at 12pm with Walkom Real Estate agent Kiah Lawford.
The property's central location offers easy access to Newcastle CBD, Charlestown and Warners Bay.
Set on 517 square metres, the dual-level design includes multiple living areas, alfresco areas and offers privacy on an elevated position overlooking bushland.
"It is immaculate and definitely the kind of house where you can move straight in with no work to be done," the agent said.
"It has a bedroom downstairs as well that would be suited to a teenager, plus it has enough yard to have a dog but it's also low maintenance."
The house is open for inspection on Saturday at 11.15am.
505/11 Perkins Street, Newcastle
If inner city living is the goal, $1 million can gain you entry into the heart of Newcastle CBD.
Priced with a guide of $865,000 to $950,000, this two-bedroom, two-bathroom apartment in the Perkins and King East End complex is positioned close to everything great that the city has to offer, with Newcastle Harbour and Newcastle Beach both within walking distance.
The QT Hotel and its popular rooftop bar are among the property's neighbours, as well as a Woolworths Metro supermarket and surrounding cafes, bars and restaurants.
With picture windows and sliding glass doors, natural light pours in and with a south-facing aspect, the apartment overlooks Newcastle's iconic Christ Church Cathedral.
Inside the apartment features a stone-finished kitchen, timber flooring, and ducted air-conditioning. It also has access to a communal rooftop garden.
"If you have $1 million to spend, apartments are what will get you into Newcastle city," said listing agency Wilton Lemke Stewart's Jarrod Dickens.
"We had our first open house last Saturday and we are finding that a lot of investors are interested in these kinds of apartments.
"One of the key features of this one is it offers two bathrooms and it also has one parking space, which is sought-after in the city."
The property is open for inspection on Saturday at 12.30pm.
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