Charlestown Growth Tipped to Continue

The continued growth in Charlestown is no surprise to Andrew McKiernan, who grew up in the Lake Macquarie suburb, and he cannot see it slowing down yet.

“It already has had good growth because the inner city is so expensive, so areas like Charlestown and Cardiff are proving popular,” Mr McKiernan, of McKiernan Real Estate, said.

According to Australian Property Monitors, Charlestown experienced growth of 14.3 per cent last year, the biggest increase since 2004.

For 189 sales, there was a median sale price of $620,000. In 2016, for 228 sales, it was $542,500.

Mr McKiernan sold 26 Willoughby Street in Charlestown on January 25 for a $605,000, the equal highest sale for the street.

“There’s just such a cry out for family homes in Charlestown and it’s still priced affordable”.

Andrew McKiernan

The property featured a three-bedroom home on 715 square metres with dual access.

“That come on the market on the 30th of December and we had a heap of enquiry,” he said.

“We had 30-something groups through the first open. It was a first home buyers’ special, in that price range and ended up selling for $605,000 to some first home buyers.”

Mr McKiernan said most looking through the home were young couples.

“Locals who can’t afford to break that inner city market, they can come 10 minutes down the road and it’s very central, big blocks and good price points,” he said.

“There’s just such a cry out for family homes in Charlestown and it’s still priced affordable.”

The sale this week of 24 Algona Road in Charlestown for $873,000 also set a new record for its street.

Robert Russell, of Century 21 Carkeet Johns Smith, marketed the three-bedroom, two-bathroom brick home on 841 square metres.

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