Figures released by the Australian Bureau of Statistics during the week showed residential property prices fell 2.4 per cent in the December quarter 2018 with the mean price of dwellings in Australia now $651,100.
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But some pockets are bucking the trend and Lakelands was one area where buyer interest and activity are increasing, according to Belle Property's Anthony Di Nardo.
According to Australian Property Monitors data, Lakelands has experienced steady growth in recent years. In 2015 the median sale price was $665,000 for 19 sales. It rose to $786,000 for 21 sales last year, when the top result was $970,000.
That sale was for 21 Brandtwood Close. It lasted just three days on the market and was sold by Robinson Property's Mike Flook.
The highest sale for Lakelands, according to APM data, was $1.31 million for a home on 1731 square metres of land in Gosforth Grange in 2017.
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APM data shows it was the only time the suburb had broken the $1 million mark until this year. Belle Property sold 12 Gosforth Grove last month for $1.112 million and 15 Hawkeshead Way for $1.03 million in January.
The agency is now selling 7 Embleton Court, which is set for auction on April 14 with a guide of $1.35 million. It has five bedrooms, three bathrooms, two living spaces, multiple decks, lake views, a pool and is on 1235 square metres of land backing on to reserve.
Mr Di Nardo said there had been "a lot of activity" in the suburb since December and said "family lifestyle" was driving local and out-of-town interest.
