A renovated house in Hamilton South has set a new suburb record for a residential property sale after going to auction on Saturday.
The four-bedroom, three-bathroom property at 104 Kemp Street sold under the hammer for $4,050,000.
The previous record sale for a house in Hamilton South was $3,950,000 for renovated a three-bedroom, two-bathroom property at 213 Parkway Avenue in December 2021.
The result rose far above the guide of $3.5 million to $3.8 million.
First National Newcastle selling agent George Rafty said a final bid of $100,000 at the end of the auction claimed the win for the new owner.
"It was a great outcome and it's a beautiful home that deserves that price," Mr Rafty said.
"The result slightly surpassed our expectations but we thought that with this house if anything is going to go for $4 million, we could see this house potentially achieve that figure.
"The vendors created a home where there is nothing left to do. It is all high-end finishes and it looked amazing."
Set on a 720 square metre north-facing block, the renovated house's features included Gaggenau appliances and a bespoke Quantum quartz island bench in the kitchen.
Other features included an inground pool and a garage converted into a gymnasium with the inclusion of an infrared sauna.
The auction attracted three registered bidders and Mr Rafty said the winning bid came from a Newcastle-based couple.
Around 50 groups inspected the property during the four-week campaign.
Mr Rafty also sold renovated three-bedroom house at 42 Freyberg Street in New Lambton on Saturday for $1,810,000.
Auction activity is trending upwards for the second week, according to data released on Monday from CoreLogic, with the auction clearance rate sitting at 69.2 per cent in Newcastle and Lake Macquarie.
There were 32 auctions held in the region last week and 18 of those cleared.
The record sale at Hamilton South result comes despite Newcastle and Lake Macquarie being named among the fastest-declining property markets in regional Australia earlier this month.
CoreLogic revealed that house values in the region recorded falls of 6 per cent over the last three months while unit values experienced a drop of 1.9 per cent.
