Croudace Bay house sale sets suburb record

A five-bedroom, four-bathroom house with a self-contained studio on 601 square metres at 55 St Johns Drive in Croudace Bay sold for a suburb record on Tuesday.

The sale price was also undisclosed, however, CoreLogic records show the property was listed for sale with a guide of $1.675 million.

Listing agent Anthony Di Nardo from Belle Property said the property sold "north of $1.7 million" to a local family.

Mr Di Nardo said the suburb was often overlooked.

"Generally speaking, buyers tend to look in places like Valentine, Eleebana, Warners Bay and Speers Point," Mr Di Nardo said.

"Croudace Bay seems to get overlooked but I see at it as offering good value for money and this one was only 400 metres from the lake."

The house was surrounded by bushland reserve and was within walking distance to sporting grounds which appealed to buyers.

The sale smashed the previous record set in September 2020 when a three-bedroom, three-bathroom home at 3 St John Drive sold for $1.525 million.

CoreLogic records show the property was last sold in 2011 for $315,000.

The suburb has joined the $1 million club in Lake Macquarie with houses in Croudace Bay holding a median house value of $1 million.

The result adds to a string of big sales for Belle Property around Lake Macquarie in the past week including 12 Lamington Drive in Eleebana which sold for $2 million.

A five-bedroom home at 15 Lindale Way in Lakelands sold off-market for $1.505 million and in Valentine, a four-bedroom home at 25 Regal Way sold for $1.3 million.

Earlier this month, suburb record sales were recorded in Teralba, New Lambton and Bar Beach where a beachfront home fetched $7.05 million.

The top sales follow a second consecutive month of growth in housing value across Newcastle and Lake Macquaire in October.

CoreLogic's national Home Value Index report showed house prices increased 0.2 per cent in October to hold a median value of $863,276.

The strengthening values followed a rise of 0.5 per cent in September which came after a fall of 0.4 per cent in August.

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