Property Watch: Wallsend offers value, "classic" Hamilton residence sells and more news from around town

One is steeped in local history, a Federation residence that was once a mining manager’s cottage and retains plenty of original features.

The other is a newer build, positioned across town and laid out over two levels with an easterly aspect that has district views.

Both are expected to prove popular in the marketplace, according to Dowling Property’s Paul Jones, who has seen increased interest in Wallsend from first-time buyers and young families.

“Time on the market is depleted in Wallsend because of the amount of interest in the area,” Mr Jones said.

“Wallsend offers pretty good value for money.

“Prices are steady and we’re not seeing your really sharp inclines like some other suburbs, like parts of Mayfield and further in towards the city, but it’s very steady from a steady flow of interest.”

Both are three-bedroom homes and located within walking distance of Wallsend’s shopping village and CBD.

The Federation home with original features at 61 Thomas Street is set on just over 400 square metres with a price guide of $475,000 to $525,000.

The other home at 8 Gunambi Street is on over 800 square metres of land with a guide of $580,000 to $640,000.

According to Australian Property Monitors, the median sale price for Wallsend rose from $420,000 in 2016 for 251 sales to $482,500 for 213 sales last year.

Both are open for the first time on Saturday, March 10 – 8 Gunambi Street at 9.45am and 61 Thomas Street at 12.45pm.

SOLD PRE-AUCTION

A “classic” Hamilton South home in Stewart Avenue, built circa 1926 and only ever owned by the one family, has been bought for $1.14 million one week prior to its scheduled auction.

The home, on a 623 square metre corner block with double garage access off Cram Street, was marketed by First National’s George Rafty with a price guide of $1 million to $1.1 million and proved sought after.

“If you were looking for a classic Hamilton South home, this is as classic as it gets,” Mr Rafty said.

CLASSIC BEAUTY: This residence in Hamilton South's Stewart Avenue was built circa 1926 and had been in the same family until being sold this week prior to auction.

CLASSIC BEAUTY: This residence in Hamilton South's Stewart Avenue was built circa 1926 and had been in the same family until being sold this week prior to auction.

BIG LISTINGS IN RAILWAY STREET

Two Merewether homes look poised to set a new benchmark for Railway Street.

One, No.9, is being marketed by Robinson Property’s Ben Robinson with a price guide of $1.95 million to $2.14 million. 

This home in Merewether's Railway Street has been listed for sale with a guide of $1.95 million to $2.14 million.

This home in Merewether's Railway Street has been listed for sale with a guide of $1.95 million to $2.14 million.

The other, No.39, has been listed by PRDnationwide Newcastle and Lake Macquarie for auction with a price guide of $1.7 million.

Both are contemporary four-bedroom homes.

The previous biggest sale for the street was $1.42 million in 2013 and there was a $1.21 million sale last year.

This home in Merewether's Railway Street has been listed for auction with a price guide of $1.7 million.

This home in Merewether's Railway Street has been listed for auction with a price guide of $1.7 million.

CENTRALE STARTS TO TAKE SHAPE

First National Newcastle City has recorded a flurry of sales in the Centrale apartments at Broadmeadow since construction started on the boutique complex.

There are only eight apartments left in the 39-residence development on the corner of Brunker and Awaba streets.

One is a one-bedroom residence and the rest are two bedrooms, ranging from $525,000 to $595,000. 

Interest has come from investors and first home buyers.

In the city, the East End development on Hunter Street is also under construction and building is set to commence on harbourside Lume next month.

LEAH JAY IN LINE FOR TOP AWARD

Leah Jay will represent NSW at the Real Estate Institute of Australia 2018 National Awards for Excellence.

The company’s systems support manager Lesley Rattenbury has been named a finalist in the corporate support category.