Standing at 16 storeys high and 165 metres above sea level, GWH apartment development Highpoint comprises 68 apartments plus ground-floor commercial and has delivered a new landmark for Charlestown and Lake Macquarie.

Construction began in 2018 and the building topped out in September last year. At the time, Lake Macquarie mayor Kay Fraser visited the Highpoint site at 2 Charles Street, describing the development as one of "significance" for the city.

"It's a great development that delivers positive outcomes for Charlestown by offering a variety of housing options close to our stunning beaches and lake, as well as fabulous retail, health and other services all within walking distance," Councillor Fraser told the Newcastle Herald in September.

This week, GWH managing director Jonathan Craig described it as "a milestone project" for the Hunter-based developer and builder, saying the construction of Highpoint had injected an estimated $50 million into the Lake Macquarie economy, with an expected additional $13 million to be felt.

"We saw an opportunity in Charlestown to provide property of a new benchmark, offering the community something not yet available in the region and the end result is just that," Mr Craig said. "[It's] our tallest residential development in our 25 years and testament to the team's ability and determination.

"From conception through development and construction, Highpoint has challenged and enabled GWH to grow to new heights, along with the Hunter Construction Group companies."

While settlements were about to begin for Highpoint and purchasers expected to start moving in, another new precedence was set in Lake Macquarie with the $2.75 million sale of a luxury, custom-built residence in Speers Point.

The property at 9 Berkeley Street was marketed by Belle Property Charlestown's Anthony Di Nardo with a guide of $2.75 million and was set for auction on June 20. He said the sale "should give some consumer confidence".

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The near-new five-bedroom home had unobstructed lake views framed by floor-to-ceiling glass, spotted gum and polished concrete floors, a soaring bi-level entry void, five covered decks and a mineral pool.

According to Australian Property Monitors data, the suburb's previous highest residential sale was $1.975 million for another home in Berkeley Street in 2017.

It comes after the $4 million mark was broken for Lake Macquarie in January when the waterfront home of former Newcastle lord mayor Jeff McCloy at 148 Ross Street in Belmont was bought for $4.25 million.

Another suburb high is believed to have been established in Lambton with the multimillion-dollar sale of a six-bedroom house on a battleaxe block 4488 square metres in size at 1A Karoola Road.

Harcourts agent Luke Wilson reported widespread interest in the property, which was sold for an undisclosed sum that the Herald believes to be over $3 million. According the APM data, the previous highest sale was $1.54 million for a Federation home at 79 Howe Street in 2017.

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"Six submissions came in for the expressions of interest and we had interest from all over Australia as well as enquiry internationally from a developer," Mr Wilson said.

The Herald understands submissions for the property ranged from $2.5 million to just shy of $3.5 million and came from two buyers wanting to live there and four developers. It was bought by an interstate developer.

"It shows a lot about the market," Mr Wilson said. "This campaign was run for six weeks during COVID [lockdown] and at the end of that we had six strong submissions.

"What I think that says about the Lambton market is that it shows the uninterrupted interest in the area."

The Herald reported this month Hunter house prices have been more immune to the coronavirus than many in the industry were predicting.

Data issued by property analysts CoreLogic on June 1 showed only a modest 0.3 per cent drop in house prices in the Newcastle and Lake Macquarie local government areas in May.