While the coronavirus crisis has taken a heavy toll on the commercial property market in Port Stephens, the residential sector seems to be thriving with house sales on the rise.
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Last month the Examiner revealed a list of some of the more significant commercial plots of land for sale, including a number of businesses in the Nelson Bay CBD, the former Colonial Ridge resort in Salamander Bay, the old Tilligerry shopping centre, land owned by Karuah Golf Club plus large properties in Anna Bay, Tomago and Heatherbrae.
All are proving difficult to move, unlike the housing market in Port Stephens.
Hunter-based developer McCloy Group had an incredible 20 home sites sold on the first day of its latest residential development release in Medowie.
Stage one of The Gardens was released on July 11 with a number of hopefuls camping out to be the first to secure a lot.
When complete The Gardens is anticipated to comprise 211 residential home sites, with an average size of 550 square metres across the 20-hectare parcel of land.
Project director James Goode said that The Gardens was a premium offering, "so we did expect demand to be strong".
"We identified Medowie as an area that was in need of more housing with the number of work opportunities nearby and its proximity to Newcastle and the airport. After experiencing a positive reaction since launching The Bower, we sought to broaden our offering in the area."
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Meanwhile, Jason Brennan from LJ Hooker Nelson Bay has reported selling the most expensive residential home in the town: a two-storey, four bedroom house in Gloucester Street featuring plantation architecture and panoramic water views.
"The record has been smashed with a $3.195 million sale of a four-bedroom home overlooking Dutchies Beach," he said.
"The home itself, located in a tightly held enclave of properties, is a stunning representation of plantation architecture combined with quality finishes and meticulous attention to detail."
The record for highest price for a home in Nelson Bay was previously held by a property in Thurlow Avenue that was sold for $2.5m in June 2018.
"It is always a pleasure to work with owners that understand the importance of quality marketing. We developed a marketing campaign specific to the target audience for this property and ensured it reached all potential buyers with the capacity to purchase this calibre of home," Mr Brennan said.
"We had 11,831 property views online, 138 email inquiries and 1,100 people watched the video with Catriona Rowntree."