It continued to be one of the region’s suburbs setting the pace for sales in 2017 and the trend looks set to continue for Merewether with a string of homes in stand-out locations hitting the market in the new year.
According to Australian Property Monitors data, the beachside suburb experienced 20.5 per cent growth last year as its median sale price rose to $1.38 million. It meant roughly $125 million was spent in the sought-after suburb.
The last sale of the year was on December 22 when 1 Curry Street opposite Merewether Ocean Baths was sold for $2.399 million.
The first sale of 2018 was $2.4 million for a brand new home on less than 300 square metres in Short Street with ocean views.
A home in tightly held Hickson Street has hit the market and is expected to garner plenty of interest at its first open home today.
No price guide has yet been set for No.46, which is being marketed by Mark Kentwell of PRDnationwide Newcastle Lake Macquarie and will be taken to auction on February 21.
Houses in the street offer arguably the best vantage point in Newcastle with panoramic views of the ocean and region.
There have been six sales in the past three years, ranging from $1.9 million to a street record of $3.5 million early last year.
Location is expected to be the key attraction for buyers as well as holding position on one of the largest blocks in the street. The five-bedroom home is on land of nearly 800 square metres which has three street frontages.
Its first open house is at 1pm on Saturday.
Tanilba House, built by convicts in 1831, went on the market late last year and sold before the year was out in the upper range of its $1.2 million to $1.4 million guide.
The property was marketed by Dean Pinter of Century 21 Novocastrian, who had plenty of interest in the unique offering.
A Sydney couple with a passion for heritage bought the estate with plans for restoration and renovation with a view to opening a boutique wedding venue.
There is plenty of activity in Wickham with several apartment developments underway and more in the planning stages.
Apartments are proving popular there with most complexes selling fast. The latest offering, Eaton on Union, is reportedly nearly 60 per sent sold.
But it is not only apartments doing well. According to Australian Property Monitors, the median sale price for a property in the inner city suburb rose from $530,000 in 2015 to $760,000 last year.
Walkom Real Estate’s Thomas Hook has listed 63 Robert Street with a price guide of $800,000. The three-bedroom home built in the 1900s has had a “high end” renovation.
“Hannell House” retains original features such as leadlight windows and dado boards but new additions include a striking green subway splashback and a black toilet.
The market may have slowed down for a few days over Christmas but properties continue to sell well in the new year.
A four-bedroom home on over 800 square metres on City Road, Adamstown Heights has sold for $830,000 and Adamstown’s Regan Street recorded its first million-dollar sale when a five-bedroom residence with a pool sold for $1.2 million.
A three-bedroom Cardiff home in Arthur Street, which had been in the same family for three generations, sold for $500,000.
A two-bedroom home in Diana Street, Wallsend was bought for $405,000.
In Maitland, a 17.33 acre property in Gillieston Road sold for $1.2 million.