Suburb record and two $3m plus sales - Redhead is on the rise

Jade Lazarevic
3 Min Read
49 Steel Street in Redhead has sold for a suburb record of $3.76 million with Cveta Property. Picture Supplied.
49 Steel Street in Redhead has sold for a suburb record of $3.76 million with Cveta Property. Picture Supplied. Credit: Supplied

Redhead is quickly earning a reputation as the most sought-after place to live in Lake Macquarie after a string of high-end sales in the beachside suburb.

Two properties fetched more than $3 million last week, including one that set a suburb record.

Cveta Kolarovski, of Cveta Property, achieved the highest sale for a residential property in the suburb after the transaction of a luxury home at 49 Steel Street last week.

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The property sold for $3.76 million, smashing the previous suburb record of $3.1 million set in October with the sale of a renovated four-bedroom house at 4 Alison Street.

Ms Kolarovski took over the Steel Street listing after it spent 18 months on the market with another agency.

“It was on the market with us for just over three weeks and it is a record sale,” Ms Kolarovski said.

“It was an incredible result and it sold to an interstate buyer who is relocating to Newcastle and looking forward to their seachange”

The owners purchased the property in 2010 for $815,000 and demolished the original house to build the luxury three-level home.

One of the home’s two bathrooms. Picture supplied

Designed by architect Trent Towndrow to capture the views along Redhead and Nine Mile Beach, the three-bedroom, two-bathroom property has three outdoor decks, three living areas, a wine cellar and a designer kitchen.

Other features include a solar-heated saltwater pool built-in on the front of the house, a big screen cinema room and an internal lift.

“It is a gorgeous home and a lot of thought and effort went into it,” she said.

“The way they designed it was to take in those beautiful views and it had incredible details.”

The view from the balcony at 49 Steel Street. Picture supplied

Redhead is becoming increasingly popular with buyers seeking a beachside lifestyle.

According to CoreLogic, Redhead is the suburb with the highest median house price in Lake Macquarie at $1,701,530.

House values have increased 10.8 per cent in the past 12 months to April.

Ms Kolarovski said that while buyers tend to look at the Newcastle suburbs of Merewether and Bar Beach for beachside homes, Redhead was emerging as a sought-after location.

“When they’re shopping around with that kind of money, they’re looking at Merewether and Bar Beach, especially when they’re coming from out of town and they want something coastal,” she said.

“The thing about the Redhead lifestyle is you have that community vibe, so it’s not as busy if you want a suburb that’s just that bit quieter.

“I do believe more people are finding out about Redhead and we had a lot of people from Sydney’s Northern Beaches looking at it because, for them, it’s a lot cheaper.”

Sarah Bennett at Belle Property also oversaw a significant sale in Redhead last week.

This house at 6 Ebsworth Street in Redhead sold at auction last week for $3.050 million with Belle Property. Picture supplied

Her listing of a luxury four-bedroom house on 626 square metres at 6 Ebsworth Street fetched $3.050 million at auction after it was snapped up by a buyer from Sydney.

The property, which is 450 metres from Redhead Beach, drew strong interest from out-of-area purchasers as well as those who already live in Redhead.

“There is some quite strong local enquiry in Redhead and people from out-of-area are also starting to discover it,” Ms Bennett said.

“From the discussions I had from buyers, there is a big price difference between Redhead and Merewether, so people see a lot more value there as opposed to what you’re paying to get in Merewether.”

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