The quick sale of a Kahibah house has broken new ground for the suburb.
Teresa Heighington, of Ray White Newcastle and Lake Macquarie, listed the four-bedroom home with a swimming pool on a block 651 square metres in size at 31 Beath Crescent on March 5.
It was set for auction on March 27 with bidding expected to start at $1.2 million. But the property sold for a suburb record $1.452 million on Monday after generating strong local interest and having 12 offers made.
Australian Property Monitors data shows the suburb's highest residential result was the $1.1 million sale of a five-bedroom home with a pool on 1404 square metres of land at 115 Wallsend Street in 2015. That was surpassed with the $1.377 million sale of a four-bedroom home at 112 Wallsend Street last month before the Beath Crescent result.
According to APM data, the median sale price for Kahibah rose from $645,000 for 27 sales in 2019 to a record high of $720,000 for 31 sales last year.
Another strong result came at an Islington auction last weekend. Dowling Property Group's Maria Di Claudio marketed the original three-bedroom home at 25 Norfolk Avenue with a guide of $700,000. It was set on around 295 square metres of land and attracted over 200 inspections. There were 15 registered bidders at the auction with the home being secured under the hammer by a Sydney buyer for $859,000.
A "house-size", two-storey apartment at 50/1 Queen Street on The Hill that was marketed by Robinson Property's Mike Flook with a guide of $1 million to $1.1 million was sold within its first week on the market for $1.07 million. The three-bedroom residence was in gated community Regency Park, which has a tennis court, pool and entertaining areas.
Another quick mover came in Merewether when a three-bedroom home at 78 Macquarie Street was sold by First National Newcastle City's George Rafty for $1.19 million within seven days on the market. It was listed with a guide of $950,000 to $1.03 million.
First National also sold a four-bedroom 1938s home at 154 Lawson Street, Hamilton South prior to auction. It sold for an undisclosed sum believed to be well above the guide of $1.4 million to $1.5 million.
A two-storey home with four bedrooms, two bathrooms and a pool at 59 Holly Circuit, New Lambton Heights was sold by Belle Property Lake Macquarie within its first week on the market for $860,000 after being listed with a guide of $740,000.
Street Property's Damon Sellis sold a five-bedroom house at 35 Deborah Street, Kotara South prior to auction for $950,000. It had a price guide of $850,000 to $890,000.