Wangi Wangi 1970s house listed for first time breaks $2m barrier at auction

A waterfront house with direct lake access is the latest property to fetch more than $2 million in Wangi Wangi.

The four-bedroom, two-bathroom house at 132 Dobell Drive went to auction last week with Lachlan Porter at LJ Hooker Lake Macquarie.

The owners, who built the Spanish-inspired house, held the property for 50 years.

The auction had five registered bidders, including Lake Macquarie-based buyers and two from Sydney.

The auction opened at $1.65 million, and four buyers were actively bidding.

The property sold under the hammer for $2.045 million, which was $200,000 above expectations.

It was sold to a Lake Macquarie-based family.

“It climbed all the way to $2.045 million, which surpassed our expectations,” Mr Porter said.

“There was not much sales data to compare with going into the campaign, so we were unsure where it would sit.

“We were prepped to expect it to sell for $200,000 less, so the owner was in tears on the phone.

“It was very emotional.

“It was a strong result and a long way ahead of the market feedback we had during the campaign.”

Mr Porter said the property’s coveted position on the lake, next to Dobell Park, and sizeable 897.9-square metre block led to high levels of enquiry.

“There have been two sales on that little strip in the last couple of years, but they were on much smaller blocks,” he said.

“This property is one of the last remaining blocks on that strip that hasn’t been subdivided.

“It runs from the street to the lake on almost 900 square metres, whereas the last one that sold a couple of doors up had a shared driveway with four properties and on about 450 square metres.

“It was special and one of the last ones with that beautiful beach access that isn’t subdivided.”

The lakefront strip has views of Pulbah Island and fronts Wangi Beach.

It is the tenth residential property to surpass the $2 million mark in Wangi Wangi.

A luxury home with a pool at 185 Watkins Road smashed sales records in September 2022 after it sold for $3 million.

In March, a sprawling five-bedroom home on a 2303 square metre waterfront block at 51 Watkins Road sold just shy of the suburb record at $2.9 million with LJ Hooker’s Arlene Field.

Other significant sales in the lakeside hamlet include 247 Watkins Road ($2.4 million, April 2022), 205 Watkins Road ($2.35 million, February 2024), 64 Dobell Drive ($2.3 million, March 2022) and 74 Beach Road ($2.295 million, January 2022).

According to CoreLogic, the median value of a house in Wangi Wangi is $947,000.