The $4.59 million sale under the hammer of a Merewether property on December 1 is believed to be the highest residential result across Newcastle, Port Stephens and Lake Macquarie this year.
Mike Flook marketed a home positioned on around 1400 square metres of prime real estate at 4 Janet Street, within close proximity to Merewether beach and ocean baths.
He described it as a “once in a lifetime property”.
There were five registered bidders for the auction with a local family finally securing the home.
Mr Flook said the property attracted interstate interest during its campaign but all of the bidders were local.
“It was a great result,” he said. “It had strong interest from day one but the price was always going to knock a lot out of the water.”
The home had only had two owners. It was originally set up as a residence and surgery of a doctor before being bought by the late Alan and Norma Taggart in 1969.
The sale surpassed the previous highest for the year of $4 million paid for a home in Merewether’s Curry Street, according to Australian Property Monitors data.
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Mr Flook’s sale of a Merewether home also on a large block around the corner at 107 Frederick Street for $5.05 million last year was the biggest sale for the area in 2017, according to Australian Property Monitors data.
Two homes in Frederick Street were also secured during the week. No.61 Frederick Street passed in at auction before selling to a local businessman for $1.445 million a few days later.
No.64 Frederick Street was bought by a medical professional for $2.025 million before its auction scheduled for today. The two-storey, three-bedroom home had views of Merewether beach. First National Newcastle City’s George Rafty sold both.
This year, for 84 sales Merewether has a median house price of $1.305 million, according to APM data.
That does not take into account the most recent sales.
Last year the suburb experienced growth of 22 per cent, according to APM data, with a median sale price of $1.4 million for 132 sales.