Off-market Mayfield sale nets $1.8 million and best suburb sale price in years

The off-market sale of a four-bedroom, three-bathroom house on 809 square metres at 47 Carrington Street this week fetched the sellers $1.8 million.

Jesse Wilton, of Wilton Lemke Stewart, oversaw the listing which was released to the agency’s database of 250 qualified buyers interested in property in the Mayfield area at that price point.

The property had a guide of $1.7 million to $1.8 million.

“It is the highest sale price in Mayfield since 2022 and it was bought off our database to a Sydney buyer relocating,” Mr Wilton said.

Mr Wilton said the property drew 39 enquiries from the database which resulted in 10 inspections.

“We had a preview showing with 10 buyers and two were really interested,” he said.

“We ended up with three offers, so two from one buyer and another buyer made an offer as well which was a bit lower.”

The seller purchased the renovated 1950s home in February 2018 for $1.025 million.

Features of the property include a swimming pool, a large open-plan living, kitchen and dining area and alfresco entertaining deck.

Mr Wilton said the land size and sought-after location commanded the high price tag.

“It was a combination of those things and there was room to add another dwelling at the back for multi-generational living if the buyer wanted to,” he said.

“These buyers aren’t planning to do that but it did present that opportunity.

“It’s also arguably the best street in Mayfield, so anything that does come up for sale here generally sells very well.”

It is the latest in a string of recent $1 million-plus house sales in Mayfield where the median days on the market is 20, which is significantly lower than the median of 35 days recorded across the Newcastle and Lake Macquarie region.

The median house value in Mayfield is $860,882, according to CoreLogic.

The historic Bella Vista mansion at 47 Church Street holds the title as the most expensive house in Mayfield after it sold two weeks out from auction for $3 million in January 2022.

In August 2022, a circa 1915 former residence of the Rundle family, Grange Mount, on 1088 square metres at 44 Bull Street fetched $2.1 million.

Another classic Mayfield residence could be next in line to deliver a notable sale in the suburb.

Burrundulla at 2 Pitt Street is listed with Roland Campos at LaneCampos Property.

Set on 1048 square metres, the heritage-listed property is one of Mayfield’s most significant residences and was classified by the National Trust in 1997.

Burrundulla at 2 Pitt Street in Mayfield is listed with Roland Campos at LaneCampos Property. Picture supplied

Mr Wilton said rising prices in Mayfield could see buyers turn to surrounding suburbs to get into the area.

“People who are looking in Mayfield are generally also looking in Waratah, Georgetown, Hamilton North and North Lambton,” he said.

“Gentrification is happening in Mayfield and people are buying there and spending money on their homes, plus it’s only a seven minute drive into Newcastle, so that’s why it is becoming so popular.”

This article originally appeared on view.com.au.