The $2.5 million sale of a luxury waterfront residence in Eraring on the western side of Lake Macquarie has smashed the suburb’s previous highest sale.
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Paul Wrigley, of Ray White Toronto, marketed the palatial home, which featured four bedrooms, an infinity pool, sauna, spas, wet bar, library, circle driveway and five-car garage on 5284 square metres of land overlooking the lake.
It had been marketed by two agencies in the 12 months before Mr Wrigley listed the trophy home three months ago.
“We got one inquiry, from Sydney. They had one inspection and it sold,” Mr Wrigley said.
“My calculations put the highest price previously in Eraring as $1.85 million.”
According to Australian Property Monitors data, the median sale price in Eraring, where there are few sales each year, was $860,000 for nine sales in 2015.
In 2016, it rose to $1.15 million for seven sales then last year was $1.385 million for just four sales, all in Payton Street with the top sale recorded as $1.8 million.
Mr Wrigley said the price was due to the house being “amazing” and positioned in Eraring’s premier address.
It was located at 53 Payton Street.
Overall, he said for the past six months they were finding 32 per cent of buyers for his agency were out of Sydney.
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‘GOOD VALUE’ IN NEW LAMBTON
Todd Mason of McGrath Estate Agents has described a new listing in New Lambton as “entry point” into the popular family suburb.
He is marketing 39 Meredith Street, a four-bedroom home, zoned for New Lambton South Public School and overlooking Blackbutt Reserve.
It is listed with a guide of $725,000 to $775,000.
“It has a versatile layout; you can use the fourth bedroom as a kids’ room. It’s got views of Blackbutt and you can walk to Orchardtown Road shops,” Mr Mason said.
“In terms of entry point, a four-bedroom home at that price, early to high 700,000s, is good value. If you want a four-bedroom home in New Lambton, they’re hard to find under $800,000.”
It has an inspection scheduled for 11am Saturday.
HARCOURTS FINDS HOME IN CITY
A new real estate agency is set to launch with agents Niki Bogdanovski, Joel Soldado, Sam Tsiaousis and Michael Hardy teaming up to form Harcourts Newcastle.
Harcourts is an international company with over 900 offices globally and over 450 in Australia. The Newcastle office is at 266 King Street and will officially be open from July 2.
Mr Hardy said Harcourts Newcastle “want to create a new standard of real estate” for the city.
MCCLOY MAKES PLAY FOR PEARCE
Hunter-based property developer McCloy Group have joined forces with injured Newcastle Knights halfback Mitchell Pearce.
Pearce’s role will be to drive awareness for charities supported by McCloy Group and become the face of the company’s communities within the Hunter region.
AGENTS NAMED IN REB TOP 100 LIST
George Rafty, of First National Newcastle City, and Mark Kentwell, of PRdnationwide Newcastle and Lake Macquarie, have been recognised among Australia’s leading real estate agents.
Rafty came in at No.43 and Kentwell No.84 in the Real Estate Business (REB) Top 100 Agents 2018 ranking for a combination of number of sales, total sales volume and average sales price.
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ON THE MARKET FOR UNDER $500K
A three-bedroom home on nearly 700 square metres of land in Cardiff’s Boronia Street has hit the market with a price guide of $490,000 to $520,000.
