Mayfield’s Carrington Street had its first million-dollar sale in February and, while the suburb has not gone over the seven-figure mark for a house again this year, its median price has continued to rise, according to Australian Property Monitors data.
Mark Dowling, of MDRE, sold 47 Carrington Street for an undisclosed sum over $1 million ahead of its scheduled March auction. The four-bedroom home on 809 square metres had been stylishly renovated.
A six-bedroom home at 14 Barton Street was sold for $920,000 by First National Altitude in August.
According to Australian Property Monitors data, the median sale price for Mayfield was $485,000 in 2016, $570,000 for 2017 and is sitting at $610,000 this year for 113 sales.
Street Property Group’s Damon Sellis sold a modernised 1930s three-bedroom weatherboard home at 46 Ingall Street prior to auction on November 2 for $682,500.
It was on a block 575 square metres in size with a garage and studio separate from the home. It is the highest sale for the street, according to APM data.
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“There’s plenty of opportunities still in that bottom end of the market, sub $700,000, and pockets of Mayfield are still very strong,” Mr Sellis said.
“Mayfield is still the funky area where a lot of people want to be and a lot of Sydney buyers are still looking at it.”
Agents are reporting a drop in numbers across open homes in Newcastle in general, but Mr Sellis said “good properties in good streets that are realistically priced are moving in the short term”.
Sales in Mayfield this week include that of a two-bedroom home on nearly 700 square metres of land marketed by Dowling Mayfield at 11 Bourke Street and sold for $586,000. Dotcom Property Sales sold an updated three-bedroom home on a corner block at 37 Fitzroy Street for $575,000.