Revealed: Newcastle’s most expensive streets

The lifestyle, job availability and beautiful coastal views much less on the hip pocket than you’d spend in Sydney, as wealthy buyers snap up properties left, right and centre.But with its popularity comes a massive hike in the property market, as homes in sought-after areas of Newcastle go for astronomical prices.“A lot more people who are successful entrepreneurs, business owners, national business owners, are making Newcastle one of their main two places they live or their base,” Director of PRD Nationwide Newcastle and Lake Macquarie Mark Kentwell said.“They are keeping their houses in Sydney, because it continues to escalate with its under supply and premium areas but, they’re making Newcastle their base.“They’re spending money in the Newcastle economy and its continuing to propel things.“The market is strong in many parts of the nation right now but what I like in Newcastle, the lifestyle is amazing to live in, it has a really strong lifestyle that you can walk places, drives places, get car parks the people are friendly, the climate is good.”Cveta Kolarovski, Director of Cveta Property, said Newcastle has just been discovered and Covid has played a significant part in its massive growth.“This side of the year has been humungous, ginormous,” she said.“People are looking for alternative lifestyles, escaping high density areas and working from home.“If you’re in Sydney living by the ocean with a $20 million property and you come to Newcastle and only have to spend $7 million, you’re winning.“A lot of the market has been driven by people from Sydney, Melbourne, up north, and even people from Dubbo.”CoreLogic data has found housing values in Newcastle have increased by 26.7 per cent over the 12 months to September, adding about $164,000 to a local dwelling.“House values are up a larger 29 per cent over the year, taking the median house value to $848,100,” CoreLogic Research Director Tim Lawless said.“housing values are rising at a faster pace than Sydney and the surge in housing values is great news for homeowners, but for those looking to buy, affordability has become a significant challenge, especially raising a deposit.But he did say there are some signs some heat is starting to leave the market.“The quarterly rate of growth has eased from a recent peak of 9.3 per cent over the three months ending May, to 4.8 per cent over the three months to the end of September,” he added.Here’s 10 of Newcastle’s most expensive streets (in no particular order):Bar Beach Ave, Bar BeachIt’s one of the most elite streets in Newcastle, where a million dollar price tag is just the norm. Local real estate agents have reported good trade in the exclusive street “where the really big numbers start”, owners able to make a motser of cash on their properties in just a short amount of time.Number 46 Bar Beach Av, a blue-ribbon beachside location, was recently snapped up. In December 2018 it sold for $4.25 million but in not even three years earned a staggering amount more, selling for a whopping $6.45 million.The five bedroom, four bathroom stunning home taking beach house goals to the next level.In October last year, 8 Bar Beach Av, a four-bedroom home just a stone’s throw away from the sand and surf sold for $4.35 million, while 52 Bar Beach Av, just 400 metres from the beach went under the hammer also for $4.35 million in the same month.Lloyd street, MerewetherWhile it hasn’t sold yet, 30 Lloyd St is on the market and is expected to fetch big bucks, which could break the record books again for a home in Merewether.A palm springs 70s vibe brick home, the five-bedroom home has amazing views of the beach, ocean and city and is DA approved for a renovators delight or to subdivide.“The last of its kind where it is a 1200sq m block which is at least two blocks and its got uninterrupted views, protected by the Hill. Anything along there is amazing,” Mr Kentwell said, who has the listing with colleague Natalie Tonks.“There are houses there (Lloyd street) that are worth $10 million but they are just not for sale.”A recent sale was 25 Lloyd St which went for $3.6 million in April this year.The three-storey home a touch of luxury in a much-coveted position above Merewether Beach.Meanwhile, a bit further back, 16 Lloyd St grabbed a tidy $2.3 million in February 2018. Again glorious views and a property which, if sold now, would most certainly get another stellar price.Kilgour Ave, MerewetherOne of Australia’s grandest home was sold just last month in Kilgour Av, for a staggering $8.7 million to become the highest selling residential property ever in Newcastle.The spectacular heritage-listed five-bedroom beachside home at number 44 – known as ‘Barrymore’ – was built in 1873 and just four years ago sold for $3.7 million.While buyers came from far and wide to marvel at the magnificent home, it was a local family who snapped up their piece of paradise.Just a couple of houses down, the picture perfect 40 Kilgour St snatched an enviable $5.51 million in early 2019, up more than $2.5 million on its previous sale in 2010.And it must be a neighbourly thing because number 42 also went under the hammer for a pretty penny. Eight years ago, it sold for $3.15 million but one would think today it would definitely shake up the record prices once again.John Parade, MerewetherThis is one of Merewether’s most sought after streets, in one of the most coveted positions at one of the best beaches in Australia.While the Newcastle property record was smashed recently, it was in September last year 38 John Parade broke the record at the time for the area.The luxury beachfront three-storey residence was snapped up prior to auction for an astonishing $7.25 million, the massive sale price beating the previous record set in 2008 when a businessman bought Jesmond House for $7 million.While it's a rarity that houses go up for sale on John Parade, there have been some big sales in the last ten years.The exclusive number 18 John Parade, just ten steps to the golden sand, sold for an impressive $4.1 million in 2015.A bit further back 16 John Parade recorded a sale of $2.7 million in 2012, while 40 John Parade snatched up $2.45 million in December 2011 according to CoreLogic.It’s almost certain that if more homes were on the market today, the prices would be hovering at or above the $10 million mark.Barker Street, The HillThis is a street of unique heritage homes in Newcastle, and if there were more properties on the market, it’s likely new pricing records would again be smashed.The most iconic would have to be Jesmond House, at 10 Barker St, where a record was set in 2008 with a $7 million sale. Imagine if that sold today!With a view overlooking the magnificent King Edward Park owners are opting to keep their valuable homes, with not much selling going on in the last couple of years.Of note though, number 3 Barker St sold for $1.975 million in October 2019, a beautiful terrace home, while 7 Barker St went under the hammer for $1.95 million in January last year.Memorial Drive, Bar BeachAt one of the most exclusive addresses, Memorial Dr is known for some stunning properties, including ‘Stella Maris’ an Spanish art deco inspired residence at number 68.Built as a boarding house in 1926 for merchant seamen, it has transformed into an exquisite home of three-storeys and five bedrooms.It’s last sale was in January 2020 for $5.22 million.Again its rare to find a property for sale here, but last year 2/102 Memorial Dr sold for a whopping $4.1 million, while a bit further back number 84 went on the market and was sold for $2.3 million in 2008.Burwood Road, WhitebridgeAway from Merewether and Bar Beach, Whitebridge also has some opulence to discover, with one of the area’s most sought-after streets and picturesque land.Seven acres of beachfront reserve, 8A Burwood Rd, a magnificent property positioned on a unique coastal escarpment offering privacy and seclusion, sold for a tidy $3.45 million in 2017.Next door 8B also recently sold in September according to CoreLogic, but the sale price wasn’t disclosed, meaning it must be something to talk about.Offering the ultimate coastal lifestyle, number 21 Burwood Rd, on a large 10,000sq m allotment, this beauty netted $3.85 million in November 2019.The Terrace, The HillJust like Barker St, The Terrace is heritage and millionaires’ row, with some unbelievable properties that are hard to come by.Fronting King Edward Park with stunning ocean views, a once in a lifetime sale of 28 The Terrace, with a price tag of $3.63 million in February this year.The ‘Yacaaba’ local treasure was one of the first homes to be built on The Terrace.A couple of months later, 20 The Terrace sold for $4.08 million, while a couple of years ago, number 30 The Terrace netted $3.81 million on the market.Buchanan Street, MerewetherAnother Merewether street, more luxury coastal properties, but a mix of high end and reasonably priced homes.Number 4 Buchanan St, an entertainers delight with a fabulous rooftop terrace and just 300 metres to the beach, went under the hammer in January last year and sold for $4.2 million. Just in August, 25 Buchanan St was a winning sale at $2.6 million and close by a $2.5 million sale of 20 Buchanan St in 2019.A couple of years back, 46 Buchanan St set a good price of $2.4 million in 2019.Flowerdale Street, MerewetherProbably one of the more modest priced streets among the big spenders, but still a drawcard of luxury homes.The ‘Black House award-winning architectural masterpiece’ at 21 Flowerdale St is a four level property that is breathtaking in beauty, inspired by Japanese architecture.The humble home sold for $2.52 million in January, more than $300,000 up from it’s previous sale in 2019.There’s a bunch of homes that could go for big bucks if they were on the market, with the area a popular and beautiful street to call home. 

from Daily Telegraph https://ift.tt/313G6xo

October 27, 2021
https://ift.tt/eA8V8J
The lifestyle, job availability and beautiful coastal views much less on the hip pocket than you’d spend in Sydney, as wealthy buyers snap up properties left, right and centre.But with its popularity comes a massive hike in the property market, as homes in sought-after areas of Newcastle go for astronomical prices.“A lot more people who are successful entrepreneurs, business owners, national business owners, are making Newcastle one of their main two places they live or their base,” Director of PRD Nationwide Newcastle and Lake Macquarie Mark Kentwell said.“They are keeping their houses in Sydney, because it continues to escalate with its under supply and premium areas but, they’re making Newcastle their base.“They’re spending money in the Newcastle economy and its continuing to propel things.“The market is strong in many parts of the nation right now but what I like in Newcastle, the lifestyle is amazing to live in, it has a really strong lifestyle that you can walk places, drives places, get car parks the people are friendly, the climate is good.”Cveta Kolarovski, Director of Cveta Property, said Newcastle has just been discovered and Covid has played a significant part in its massive growth.“This side of the year has been humungous, ginormous,” she said.“People are looking for alternative lifestyles, escaping high density areas and working from home.“If you’re in Sydney living by the ocean with a $20 million property and you come to Newcastle and only have to spend $7 million, you’re winning.“A lot of the market has been driven by people from Sydney, Melbourne, up north, and even people from Dubbo.”CoreLogic data has found housing values in Newcastle have increased by 26.7 per cent over the 12 months to September, adding about $164,000 to a local dwelling.“House values are up a larger 29 per cent over the year, taking the median house value to $848,100,” CoreLogic Research Director Tim Lawless said.“housing values are rising at a faster pace than Sydney and the surge in housing values is great news for homeowners, but for those looking to buy, affordability has become a significant challenge, especially raising a deposit.But he did say there are some signs some heat is starting to leave the market.“The quarterly rate of growth has eased from a recent peak of 9.3 per cent over the three months ending May, to 4.8 per cent over the three months to the end of September,” he added.Here’s 10 of Newcastle’s most expensive streets (in no particular order):Bar Beach Ave, Bar BeachIt’s one of the most elite streets in Newcastle, where a million dollar price tag is just the norm. Local real estate agents have reported good trade in the exclusive street “where the really big numbers start”, owners able to make a motser of cash on their properties in just a short amount of time.Number 46 Bar Beach Av, a blue-ribbon beachside location, was recently snapped up. In December 2018 it sold for $4.25 million but in not even three years earned a staggering amount more, selling for a whopping $6.45 million.The five bedroom, four bathroom stunning home taking beach house goals to the next level.In October last year, 8 Bar Beach Av, a four-bedroom home just a stone’s throw away from the sand and surf sold for $4.35 million, while 52 Bar Beach Av, just 400 metres from the beach went under the hammer also for $4.35 million in the same month.Lloyd street, MerewetherWhile it hasn’t sold yet, 30 Lloyd St is on the market and is expected to fetch big bucks, which could break the record books again for a home in Merewether.A palm springs 70s vibe brick home, the five-bedroom home has amazing views of the beach, ocean and city and is DA approved for a renovators delight or to subdivide.“The last of its kind where it is a 1200sq m block which is at least two blocks and its got uninterrupted views, protected by the Hill. Anything along there is amazing,” Mr Kentwell said, who has the listing with colleague Natalie Tonks.“There are houses there (Lloyd street) that are worth $10 million but they are just not for sale.”A recent sale was 25 Lloyd St which went for $3.6 million in April this year.The three-storey home a touch of luxury in a much-coveted position above Merewether Beach.Meanwhile, a bit further back, 16 Lloyd St grabbed a tidy $2.3 million in February 2018. Again glorious views and a property which, if sold now, would most certainly get another stellar price.Kilgour Ave, MerewetherOne of Australia’s grandest home was sold just last month in Kilgour Av, for a staggering $8.7 million to become the highest selling residential property ever in Newcastle.The spectacular heritage-listed five-bedroom beachside home at number 44 – known as ‘Barrymore’ – was built in 1873 and just four years ago sold for $3.7 million.While buyers came from far and wide to marvel at the magnificent home, it was a local family who snapped up their piece of paradise.Just a couple of houses down, the picture perfect 40 Kilgour St snatched an enviable $5.51 million in early 2019, up more than $2.5 million on its previous sale in 2010.And it must be a neighbourly thing because number 42 also went under the hammer for a pretty penny. Eight years ago, it sold for $3.15 million but one would think today it would definitely shake up the record prices once again.John Parade, MerewetherThis is one of Merewether’s most sought after streets, in one of the most coveted positions at one of the best beaches in Australia.While the Newcastle property record was smashed recently, it was in September last year 38 John Parade broke the record at the time for the area.The luxury beachfront three-storey residence was snapped up prior to auction for an astonishing $7.25 million, the massive sale price beating the previous record set in 2008 when a businessman bought Jesmond House for $7 million.While it's a rarity that houses go up for sale on John Parade, there have been some big sales in the last ten years.The exclusive number 18 John Parade, just ten steps to the golden sand, sold for an impressive $4.1 million in 2015.A bit further back 16 John Parade recorded a sale of $2.7 million in 2012, while 40 John Parade snatched up $2.45 million in December 2011 according to CoreLogic.It’s almost certain that if more homes were on the market today, the prices would be hovering at or above the $10 million mark.Barker Street, The HillThis is a street of unique heritage homes in Newcastle, and if there were more properties on the market, it’s likely new pricing records would again be smashed.The most iconic would have to be Jesmond House, at 10 Barker St, where a record was set in 2008 with a $7 million sale. Imagine if that sold today!With a view overlooking the magnificent King Edward Park owners are opting to keep their valuable homes, with not much selling going on in the last couple of years.Of note though, number 3 Barker St sold for $1.975 million in October 2019, a beautiful terrace home, while 7 Barker St went under the hammer for $1.95 million in January last year.Memorial Drive, Bar BeachAt one of the most exclusive addresses, Memorial Dr is known for some stunning properties, including ‘Stella Maris’ an Spanish art deco inspired residence at number 68.Built as a boarding house in 1926 for merchant seamen, it has transformed into an exquisite home of three-storeys and five bedrooms.It’s last sale was in January 2020 for $5.22 million.Again its rare to find a property for sale here, but last year 2/102 Memorial Dr sold for a whopping $4.1 million, while a bit further back number 84 went on the market and was sold for $2.3 million in 2008.Burwood Road, WhitebridgeAway from Merewether and Bar Beach, Whitebridge also has some opulence to discover, with one of the area’s most sought-after streets and picturesque land.Seven acres of beachfront reserve, 8A Burwood Rd, a magnificent property positioned on a unique coastal escarpment offering privacy and seclusion, sold for a tidy $3.45 million in 2017.Next door 8B also recently sold in September according to CoreLogic, but the sale price wasn’t disclosed, meaning it must be something to talk about.Offering the ultimate coastal lifestyle, number 21 Burwood Rd, on a large 10,000sq m allotment, this beauty netted $3.85 million in November 2019.The Terrace, The HillJust like Barker St, The Terrace is heritage and millionaires’ row, with some unbelievable properties that are hard to come by.Fronting King Edward Park with stunning ocean views, a once in a lifetime sale of 28 The Terrace, with a price tag of $3.63 million in February this year.The ‘Yacaaba’ local treasure was one of the first homes to be built on The Terrace.A couple of months later, 20 The Terrace sold for $4.08 million, while a couple of years ago, number 30 The Terrace netted $3.81 million on the market.Buchanan Street, MerewetherAnother Merewether street, more luxury coastal properties, but a mix of high end and reasonably priced homes.Number 4 Buchanan St, an entertainers delight with a fabulous rooftop terrace and just 300 metres to the beach, went under the hammer in January last year and sold for $4.2 million. Just in August, 25 Buchanan St was a winning sale at $2.6 million and close by a $2.5 million sale of 20 Buchanan St in 2019.A couple of years back, 46 Buchanan St set a good price of $2.4 million in 2019.Flowerdale Street, MerewetherProbably one of the more modest priced streets among the big spenders, but still a drawcard of luxury homes.The ‘Black House award-winning architectural masterpiece’ at 21 Flowerdale St is a four level property that is breathtaking in beauty, inspired by Japanese architecture.The humble home sold for $2.52 million in January, more than $300,000 up from it’s previous sale in 2019.There’s a bunch of homes that could go for big bucks if they were on the market, with the area a popular and beautiful street to call home.