New street records, hotly contested auctions and more quick sales have occurred in the past week as agents continue to report buyer demand outstripping supply in the Newcastle property market.
Tammy Hawkins, of McGrath Newcastle City, reported a fully renovated three-bedroom, two-bathroom house with a pool at 15 Lille Street in New Lambton generated a lot of interest before it sold for a street record $1.17 million, according to Australian Property Monitors data.
A new street high of $775,000 was also established for Georgetown's Hunter Street with the fast sale of a three-bedroom home after four days on the market. No.10 was listed by First National Newcastle City's George Rafty with a guide of $700,000 to $770,000 and reportedly purchased sight unseen from a young couple in North Queensland who have lived in Newcastle.
It was not the only fast mover for Mr Rafty this week. A 1900s miners cottage that had three bedrooms and had been renovated at 54 Rodgers Street in Carrington was also snapped up for $720,000 within a matter of days. The home was on a block 202 square metres in size and was listed with a guide of $630,000 to $680,000.
Cardiff continues to be a suburb on the move. APM data shows the median house sale price after the first 63 sales this year was an all-time high of $525,000. The suburb's median price last year was $450,000 for 105 sales, down from $500,000 for 98 sales in 2018.
Street Property's Damon Sellis said there were multiple offers for a four-bedroom house at 3 Wansbeck Valley Road in Cardiff that sold for $700,000 after being on the market for five days. It was listed with a guide of $570,000 to $610,000, which was quickly revised to $600,000 to $660,000 after strong early interest.
A three-bedroom brick house on a corner block at 16 James Street in Hamilton that Street Property marketed with a guide of $1 million to $1.1 million was sold prior to auction for an undisclosed sum believed to be over $1.2 million.
"There were several negotiations prior to auction, which is what we're seeing in the market now," Mr Sellis said. "People aren't wanting to wait four weeks for an auction. They're wanting to show their best price prior to."
PRD Newcastle and Lake Macquarie's Chasse Ede described the $3.5625 million pre-auction sale of a three-bedroom, three-bathroom penthouse in Newport overlooking Pacific Park at 17/71 Scott Street that he and Mark Kentwell marketed as "a great result".
Four Torrens Title "executive" townhomes, constructed by award-winning builder Phil Bush, at 44-46 Kenrick Street in The Junction have all been sold by Robinson Property's Mike Flook.
All four were individually designed and featured four bedrooms, inside/outside alfresco areas with a Japanese teppanyaki grill and a focus on passive design. They were all sold within their $1.9 million to $2 million guide.
A five-bedroom and four-bathroom Federation residence with a pool on over 1000 square metres of land at 18 Devon Street in Wallsend was sold by Cveta Property for $1.05 million.
A renovated 1930s weatherboard home with three bedrooms and on a 602 square metre block at 3 Ferndale Street in Tighes Hill was sold by PRD for $851,000.
In Mayfield, Walkom Real Estate sold a renovated three-bedroom home at 12 Roe Street for $730,000.
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Auction Action
There was good activity in Valentine's Regal Way last Saturday.
Belle Property Lake Macquarie's Sam Taylor took a four-bedroom home to auction at No.130 with a guide of $825,000 and it sold under the hammer for what is believed to be a street record $890,000.
Twenty-seven buyers registered for the auction of 20 Regal Way, which was marketed by First National Newcastle City with a guide of $550,000 to $600,000 and sold for $750,000.
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Belle Property's Anthony Di Nardo has been guiding $3.1 million for a waterfront property at 117 Dilkera Avanue, Valentine set for auction at 11.30am on Saturday.
He also reported over 60 groups had been through a four-bedroom house at 25 Sheridan Avenue in Adamstown Heights that goes under the hammer with a guide of $730,000 at 2.30pm on Saturday.
