The continued growth in Charlestown is no surprise to Andrew McKiernan, who grew up in the Lake Macquarie suburb, and he cannot see it slowing down yet.
“It already has had good growth because the inner city is so expensive, so areas like Charlestown and Cardiff are proving popular,” Mr McKiernan, of McKiernan Real Estate, said.
According to Australian Property Monitors, Charlestown experienced growth of 14.3 per cent last year, the biggest increase since 2004.
For 189 sales, there was a median sale price of $620,000. In 2016, for 228 sales, it was $542,500.
Mr McKiernan sold 26 Willoughby Street in Charlestown on January 25 for a $605,000, the equal highest sale for the street.
There’s just such a cry out for family homes in Charlestown and it’s still priced affordable.Andrew McKiernan
The property featured a three-bedroom home on 715 square metres with dual access.
“That come on the market on the 30th of December and we had a heap of enquiry,” he said.
“We had 30-something groups through the first open. It was a first home buyers’ special, in that price range and ended up selling for $605,000 to some first home buyers.”
Mr McKiernan said most looking through the home were young couples.
“Locals who can’t afford to break that inner city market, they can come 10 minutes down the road and it’s very central, big blocks and good price points,” he said.
“There’s just such a cry out for family homes in Charlestown and it’s still priced affordable.”
The sale this week of 24 Algona Road in Charlestown for $873,000 also set a new record for its street.
Robert Russell, of Century 21 Carkeet Johns Smith, marketed the three-bedroom, two-bathroom brick home on 841 square metres.
NEW HIGH IN HELEN STREET
The sale of a two-bedroom unit in Merewether’s Helen Street has set a new highest mark for its small complex. Robinson Property’s Mike Flook sold unit 1 at 17 Helen Street for $735,000 after less than one week on the market.
Also in Merewether, homes in Morgan Street and Curry Street were sold for $1.45 million and $1.7 million respectively.
QUICK MOVER IN ERRINGTON
A home in New Lambton’s Errington Avenue set a new mark after less a week on the market.
According to Australian Property Monitors data, the previous biggest sale for the street was $745,000 last year.
Kristen Murnane of Dalton Partners took No.6 to market on January 24 and sold it for $750,000 five days later.
WHERE OTHER SALES WERE
A three-bedroom residence in Gateshead’s Poplar Place was secured for $470,000.
A three-bedroom home in Montrose Avenue, Adamstown Heights, sold for $725,000.
A home with five bedrooms on around 860 square metres in Cardiff’s Myall Road sold for $560,000.
A dual-level brick home on 340 square metres in Thomas Street, Dudley, was bought for $690,000 and a two-bedroom circa 1920s house on around 330 square metres in Hamilton’s Beaumont Street sold for $792,000 after a short campaign.