A buyer has been found for a row of housing commission properties in one of the city’s most coveted postcodes.
While the sell-off of the homes in Bar Beach has not been rubber stamped, the state government has confirmed the properties are under contract. The seven properties, on Light Street, were listed with a price guide of $1.3 million each.
A spokesperson for the Department of Family and Community Services (FACS) said the proceeds would fund the construction of new “accessible” social housing.
“FACS is building more than 50 new homes in the Newcastle and Hunter area, with some of these already under construction,” he said.
He said FACS continually reviewed the suitability of its housing stock, disposing of properties that no longer met requirements.
“FACS may sell properties which have become uneconomical to maintain or repair, as well as properties which have a high market value or which no longer align to the demand in the area,” he said.