Hamilton North sale sets benchmark with $1.71 million result
Hamilton North is the latest NSW suburb to achieve a record sale.
Following suburb record sales in Eleebana, Jewells, Fishing Point, Hamilton South, and Highfields this year, a five-bedroom, three-bathroom house at 32 Gow Street set a benchmark after selling for $1.71 million this week.
The result topped the previous residential record of $1.5 million set in July last year with the sale of a four-bedroom house on 481 square metres at 42 Boreas Road.
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By continuing you agree to our Terms and Privacy Policy.Harcourts Newcastle listing agent Joel Soldado oversaw both sales in Hamilton North.
It took two weeks to find a buyer for the Gow Street property.
“It has topped the previous record by $210,000, so it’s a big jump,” Mr Soldado said.
He said that the buyers had a growing family with grandkids, so they wanted a house where they could entertain the wider family.
“As soon as they saw it they fell in love with it, so they sold their penthouse apartment in Newcastle East and bought the house where they can have the whole family come and stay,” he said.
CoreLogic records show the 1940s-era house was last sold in 2008 for $318,000, however, it has undergone extensive updates over the past 16 years.
Renovations include an extension and addition of a second level that transformed the original two-bedroom cottage into a large family home with three living areas.
The house combines period features with modern updates including an outdoor entertaining deck with a built-in barbecue, outdoor kitchen and bar fridge.
“It was a pretty house and a big home with five bedrooms and three bathrooms, so it was arguably one of the biggest houses in Hamilton North,” he said.
“The owners were very house proud and did a lovely job of the renovation that extended the house.
“It was a two-bedroom cottage and they extended back and eventually they went up too.”
The sale price was well above the Hamilton North median house value of $949,000.
Prices in the suburb have increased by 57.1 per cent in the past five years, according to CoreLogic.
“Hamilton North is one of those little pockets that’s kind of forgotten about a lot of times because it is a very tightly held suburb and there isn’t a lot of movement with homes,” he said.
“Once you remind buyers that is it a little bit closer to town than, say, the likes of Georgetown and Waratah, it becomes a popular option.”
