New Lambton pool estate sells for $7m, breaking suburb record
A six-bedroom property sold off-market for approximately $7.25 million, beating the previous New Lambton record by more than $2 million.
A six-bedroom house at 56 Addison Road sold off-market after one inspection. The buyer came from the agent's own database without the property listing publicly.
Lisa Macklin reached out early because the sellers were not planning to market for six or seven months. The property spans 1.26 acres and includes a swimming pool, tennis court and guest quarters.
The sale beat the previous suburb record of $4.95 million set at the neighbouring property. The sale marks the highest price paid for a non-coastal home in Newcastle.
New Lambton's median house value of $1.24 million is up 3.2 per cent over the past year, relatively insulated from the region's recent cooling.
- $7 million to $7.5 million
- Sale price range
- $4.95 million
- Previous suburb record
- 1.26 acres
- Property size
- $1.76 million in November 2012
- Original purchase price
Why it mattersIt shows that premium properties in inland suburbs can still command strong prices even as broader regional markets cool.
AustraliaWhile most of Australia's property market weakens, this sale demonstrates resilience in premium Newcastle suburbs away from the coast.
✓ Claims checked against the source. checked 3 d ago
