A Merewether house in a prized pocket of Newcastle real estate was secured at auction last Saturday for $1 million more than it sold for in February of 2019.
Ray White Newcastle and Lake Macquarie's Darren Penn marketed the property at 57 Frederick Street and said it was among some strong results being recorded for a number of "short-term resells".
Mr Penn reported a 100 per cent clearance rate for five properties Ray White had set for auction last weekend. Three sold prior and two under the hammer.
"The market has changed a little bit but prices are still incredibly strong and it's hard to keep a property for sale for a month and have an auction," Mr Penn said.
He sold 57 Frederick Street in February of 2019 for $1.7 million. At the time it had been in the same family for nearly 100 years.
The three-bedroom home has since been renovated within its footprint but not extended and sold under the hammer last Saturday for $2.7 million.
There were two registered bidders with a local family securing the property, which was marketed with a guide of $2.7 million.
Scott Walkom, of Walkom Real Estate, is guiding around $1.2 million for a property in Newcastle's East End that offers commercial and residential components.
The property at 9/71 Scott Street where popular 23hundred Espresso Bar operates on ground level is within walking distance of the beach and habour. It is set for auction on July 17 and inspections are by appointment.
"The cafe is leased until July 2023 with an option for another three years," Mr Walkom said. "The one-bedder is vacant at the moment but it was renting for $440 per week, so the combined net income is about $56,000 plus outgoings.
"Having the dual income is unusual and it is a good quality tenant, who has been trading for a long time. Because of the market, I'm expecting strong interest from investors or someone who wants to use the one-bedder for themselves."
A two-bedroom apartment in Newcastle's just completed Washington House reportedly attracted international interest before being secured by Sydneysiders.
The Agency's Craig and Belinda Rosevear marketed the north-east-facing apartment at 503/169 Hunter Street. Washington House is part of stage 1 of Iris Capital's East End development.
Team Rosevear reported the property attracted 79 groups through inspections and a mix of local, national and overseas buyers before selling for what they described as "an outstanding" $1.185 million.
"With such stunning views of the harbour and great natural light the apartment really showcased the best of what the East End of Newcastle is all about," Mr Rosevear said.
"Through our network of local, national and international buyers agents we received multiple offers with the eventual purchasers being a professional couple from Sydney."
Listings over $1m
Robinson Property's Tony Reville reported good early interest in what he described as "a huge five-bedroom home of solid construction" with city views at 101 Morgan Street in Merewether. He is marketing the property with an auction guide of $2 million and will open it for the first time on Saturday.
A three-bedroom home on a 631 square metre block at 5 Lockyer Street in Merewether is being marketed by Walkom Real Estate for $1.295 million.
An Aberglassyn property featuring two homes on 18 acres and Hunter River frontage at 13 Aberglassyn Lane is being marketed by Belle Property Hunter Valley. A guide has not been set but the Newcastle Herald understands expectations are in the low $2 million range.
PRD Newcastle and Lake Macquarie are selling a three-bedroom house at 20 Trent Street in Charlestown for $1 million.
Listings $500,000 to $1m
A two-bedroom house in original condition on a 702 square metre block of land at 76 Tirriki Street, Charlestown has been listed by Belle Property Lake Macquarie with an auction guide of $650,000.
A two-bedroom apartment in East End's Fabric House at D101/18 Wolfe Street, Newcastle is on the market through PRD Newcastle and Lake Macquarie for $900,000 to $940,000.
First National Newcastle City are guiding $750,000 to $820,000 for a three-bedroom home at 18 Mabel Street in Georgetown.
Listings under $500,000
Movable have listed an early 1900s semi-miner's cottage at 1 & 2/5 Arnolds Lane in Waratah with a guide of $450,000. It is believed to be one of the last remaining original properties in the area.
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