Property prices on the rise in Hamilton South

Hamilton South has enjoyed a record month of real estate and there could be some new milestones to come if September is any guide.

A new suburb sale record was set on September 28 when elegant period residence “Stanleigh” at 19 Alexander Street was sold off market for $2.625 million by First National Newcastle City’s George Rafty.

The four-bedroom, two-bathroom federation home was built by the Krempin family, of Krempin Nurseries, in 1929 and is set on a double block of 1170 square metres.

The property still held the street record from when it was last sold in 2013, also by Mr Rafty.

George Rafty, of First National Newcastle City, has just set a new suburb record for Hamilton South with the sale of 19 Alexander Street for $2.625 million.

George Rafty, of First National Newcastle City, has just set a new suburb record for Hamilton South with the sale of 19 Alexander Street for $2.625 million.

The new buyers, who wished to remain unnamed, were interested in the property when it was last marketed four years ago.

“I felt that they were disappointed that they missed out then,” Mr Rafty said.

“When I rang them to say that it was potentially coming back to market, they were quick to move on it and secured it within three days of having looked at it.”

The buyers are a local couple who had always admired the residence that they said “makes a lovely statement”.

The previous suburb record, according to data from PriceFinder, was $2.005 million for 104 Kemp Street and set in October of last year.

“I think the growth has been consistent for the past three to four years. I think last year was exceptionally busy but I’m sensing this spring is also going to be very busy,” Mr Rafty said.

The new mark appears part of an increasing trend of rising property prices in the suburb, particularly on the western side of Stewart Avenue.

Mark Kentwell of PRDnationwide Newcastle Lake Macquarie set a new street record when 112 Turnbull Street sold for $1.69 million at auction on September 27. 

It came a fortnight after Mr Kentwell also set a new highest street price with 235 Lawson Street of $1.65 million. He also sold 245 Lawson Street for $1.47 million on the same day.

“I think the buyers have recognised that the western side of Stewart Avenue is a great place to live,” Mr Kentwell said.

“The eastern side has gone up so much. You’re only a couple of hundred metres away from The Junction but you’re actually closer to gorgeous Learmonth Park, you’re still in good school zones and you’re still in good proximity to Beaumont Street.”

He said block size, architecture and “character of the homes” also made the area sought after.

Another milestone could be set at 118 Gordon Street, listed by Mr Rafty for an October 28 auction with a price guide of $1.65-$1.75 million which would be a new street record if reached.