Landmark Hamilton estate loses $535,000 in just two years
Fettercairn sold for $2.165 million on Saturday, down $535,000 from its August 2024 purchase price.
The 1904 heritage house on Lindsay Street had 70 open inspections during a private sale campaign but attracted no firm offers. The real estate agent lowered the guide and shifted to auction, finally moving it at $2.165 million.
The region's median home value has fallen 5.5 per cent since April and is now below $1 million. The auctioneer said the lower guide and auction deadline pushed hesitant buyers to act.
The loss reflects a broader correction after prices peaked in April.
- $2.165 million
- Auction price
- $535,000
- Loss from purchase
- $2.7 million
- August 2024 purchase price
- 70 groups
- Open inspections
Why it mattersEven premium heritage properties cannot escape a weakening market, signalling broader pressure on Newcastle buyers.
AustraliaNewcastle and Lake Macquarie property values now officially below $1 million median, affecting regional sellers and buyers.
