Property Watch: Offers expected around $2.7 million for 17A Payten Street, Eraring

A new price high was set for Eraring last month when a waterfront trophy home was secured by a Sydney buyer for $2.5 million.

But David Westerman, of First National Toronto, believes the property he is marketing at 17A Payten Street can set the suburb ceiling even higher.

Inspections are by appointment only for the five-bedroom, five-bathroom waterfront home with a wraparound terrace on a large, landscaped waterfront block.

“It’s just an oasis out in Eraring; there has been no expense spared,” Mr Westerman said.

“The house is about nine years old but has only been lived in for about one year; it’s brand new inside. It’s owned by a Sydney couple and they’ve used it as a holiday weekender and it’s in immaculate condition.”

Mr Westerman said they were expecting offers “around the $2.7 million mark” and early interest for the grand home had come out of Sydney and interstate.

“It’s a well-kept secret but Eraring is just being noticed by the Sydney market, people are seeing value there,” he said.

“That top end market is still quite hot. These ones up over $2 million, those buyers are still around.”

Last month, Ray White’s Paul Wrigley sold 53 Payten Street for $2.5 million.

According to Australian Property Monitors data, the median sale price in Eraring, where there are few sales each year, rose from $860,000 in 2015 to $1.385 last year.

APARTMENT AT ‘HEAD OF HARBOUR’

An apartment in one of the first harbourside developments for Newcastle has hit the market for the first time in over 15 years.

The spacious three-bedroom residence on the third floor of ‘Breakwater’ at 304 Wharf Road is being marketed by Joanna Cook and Scott Purnell, of Dalton Partners.

HARBOURSIDE HAVEN: This third-floor apartment in 'Breakwater' enjoys a north-easterly aspect and water views from the living, dining, balcony and bedrooms.

HARBOURSIDE HAVEN: This third-floor apartment in 'Breakwater' enjoys a north-easterly aspect and water views from the living, dining, balcony and bedrooms.

Mr Purnell said its north-easterly position at “the head of the harbour” will make it sought after.

“It’s a never-to-be-repeated apartment block with views to Nobbys,” he said. 

“It is elegant and stylish and quite big. You don’t get anywhere near that with the new apartments.” 

HARBOURSIDE HAVEN: This third-floor apartment in 'Breakwater' enjoys a north-easterly aspect and water views.

HARBOURSIDE HAVEN: This third-floor apartment in 'Breakwater' enjoys a north-easterly aspect and water views.

It has panoramic water views from the living, dining and bedrooms.

There are two-and-a-half marble and travertine bathrooms, a granite kitchen and oak timber flooring. 

There is double security parking plus locked storage. A price guide has not yet been disclosed.

HARBOURSIDE HAVEN: This third-floor apartment in 'Breakwater' enjoys a north-easterly aspect and water views.

HARBOURSIDE HAVEN: This third-floor apartment in 'Breakwater' enjoys a north-easterly aspect and water views.

LOCATION TAKES SALE OVER GUIDE

A “tired”, west-facing two-bedroom apartment at 41 Wrightson Avenue in Bar Beach was bought for $20,000 over its guide after two weeks on the market.

The property, complete with a dated pink kitchen, was marketed by Walkom’s Kate Rundle with a guide of $700,000 before selling for $720,000.

“It was in a boutique block of just four and we didn’t have a lot of interest,” Ms Rundle said.

“It was quite big, bigger than a lot of the more modern ones and really it was all about where it is. Wrightson Avenue is a very good street.”

FAST SALES FOR NEW TOWNHOUSES 

Two brand new townhouses at 57A Macquarie Street in Wallsend were both sold for $500,000 after three days on the market.

Street Property Group’s Damon Sellis marketed the three-bedroom, two-bathroom townhouses with price guides of $455,000 to $495,000.

It took just three inspections over three days for one property to be secured by an investor and the other by an owner-occupier.

Mr Sellis said price point and being new homes were the main selling factors.

ON THE MARKET FOR UNDER $500K

A four-bedroom home at 7 Nevill Street, Mayfield has been listed with a guide of $490,000 to $530,000.

In Waratah West, a three-bedroom residence at 14 Morperth Road is on the market for $430,000 to $450,000.

A three-bedroom home with pool at 247 Paterson Road in Bolwarra Heights has a range of $490,000 to $510,000.