A multimillion-dollar property in sought-after Bar Beach Avenue has sold within one week of hitting the market.
The luxurious Torren Bell-designed residence overlooking Empire Park was sold for an undisclosed sum within its price range of $3.7 million to $4 million.
The four-bedroom, three-bathroom beachside home at 52 Bar Beach Avenue in Bar Beach was marketed by First National Newcastle City's George Rafty and secured by a local buyer.
"The first two blocks of Bar Beach Avenue are gold and there are only a handful of homes that you can ever buy," Mr Rafty said. "It's very tightly held and you don't get into that street frequently.
"I've sold 10 Bar Beach Avenue twice in past five years. The first time it sold within two weeks then the second time it pretty much sold off market on the first day. Basically every house I've had along there, aside an older block of units, has sold quickly because it's very sought after."
The residence had spotted gum timber floors, three-metre high ceilings, a solar-heated pool and spa, a marble-topped kitchen, floor-to-ceiling limestone tiles in both bathrooms and an impressive outdoor pizza oven.
In December, 46 Bar Beach Avenue sold for $4.25 million after two weeks of marketing.
It was the second-highest price paid for a home in Bar Beach, according to Australian Property Monitors data. It has only been surpassed by the suburb high sale of 6 Parkway Avenue for $4.7 million in 2016.
Meanwhile, in Elermore Vale, Global Realty Partners sold a four-bedroom house on 1162 square metres of land at 6 Jenny Close in Elermore Vale for $825,000.
A two-bedroom home at 25 Boronia Street in Cardiff was sold by Belle Property for $450,000.
In Tighes Hill, Harcourts sold a three-bedroom house at 17 Margaret Street for $830,000.