$1.32 million auction sale of 5 Hunter Street sets new suburb sale record for Georgetown

Mathew Iuliano, of First National Newcastle City, marketed the property at 5 Hunter Street and reported around 250 groups inspected the home during its auction campaign.

The 1930s weatherboard house was positioned on a block of 398 square metres in size. It had two bathrooms and had benefitted from a contemporary renovation.

There were 12 registered bidders at auction with bidding opening at $1.1 million and the eventual purchaser being local.

Mr Iuliano said the result "blew us all out of the water".

"We had a good chunk of local interest and we also had a number of parties who had friends and family look at it on their behalf," Mr Iuliano said.

"It went on the market right as Sydney went into lockdown, so it was interesting to see how that transitioned from those buyers no longer able to come from Sydney. We had a lot of local family members having a look at it on their behalf and we had a lot of virtual inspections."

The sale eclipsed the suburb's previous highest mark of $1.165 million set in May for another renovated 1930s cottage with three bedrooms and two bathrooms at 34 Mabel Street.

It continues some strong results for Georgetown this year. Neighbouring Waratah has also recorded a number of strong sales this year.

"Waratah and Georgetown are grossly undervalued and people are starting to realise that and also that it's still affordable," Mr Iuliano said.

"It's that pocket in the market where they can still get in and get something nice relatively close to town."

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First National have also reported the quick sale of a renovated 1920s house on a 539 square metre block at 47 Silsoe Street in Mayfield for $1.1 million during the week.

They listed the three-bedroom, one-bathroom home with a guide of $900,000 to $990,000 and had over 50 groups inspect the property before its sale after 10 days on the market.

A waterfront home in Marks Point has lasted just seven days before its $3.2 million sale. LJ Hooker Belmont's Joshua O'Doherty marketed the two-storey residence at 13 Edith Street.

It featured three bedrooms, two bathrooms and a lap pool. It is the second-highest sale price for Marks Point.

A strata titled home at 1/100 Marks Point Road was also sold by LJ Hooker Belmont in January for $3.2 million and they set a new suburb record of $3.35 million with the exchange of a four-bedroom, four-bathroom home at 91 Marks Point in May.

A three-bedroom house at 119 Marshall Street in Kotara was sold at auction by Belle Property Lake Macquarie last weekend for $835,000.

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