Stockton is eyeing another multi-million dollar sale as home prices in the seaside suburb continue to rise.
A beachfront property at 221 Mitchell Street has hit the market with a price guide of $3.3 million to $3.5 million with Tarra Cox and Rebecca Sutherland at Creative Property.
The five-bedroom, two-bathroom house on 505 square metres is directly opposite the coastline, with Stockton Beach just metres away.
The house has undergone significant renovations across two levels since it was last sold in January 2023 for $1.975 million.
The ground floor has an expansive open-plan living, dining, and kitchen space with a striking marble island bench and stainless steel appliances.
Floor-to-ceiling windows take in the ocean view from the living room.
The master suite is set on its own level and includes an ensuite, two oversized dressing rooms and balcony access.
A key feature of the home is the alfresco entertaining area, which includes a large deck, a sunken fire pit and an outdoor kitchen that rivals the one inside.
The outdoor kitchen includes stone benchtops, a barbecue, a bar fridge and a keg tap.
It also has rear lane access and proposed plans for roof and pool additions.
While it won't top the suburb record of $3.95 million set earlier this year for another luxury home on the street, it could become one of Stockton's most expensive properties.
The top five house sales in Stockton are all on Mitchell Street and three transacted this year: 235 Mitchell Street ($3.95 million, May 2024); 183a Mitchell Street ($3.2 million, November 2022); 205 Mitchell Street ($3.030 million, August 2024); 249 Mitchell Street ($2.775 million, June 2024); and 245 Mitchell Street ($2.75 million, July 2023).
According to CoreLogic, the median sale price for houses in Stockton is $1.17 million, with median values up 6.5 per cent over the last 12 months.
And demand is tipped to keep growing.
A fourth-generation Stockton local, Lucas Gresham heads up Creative Property's office in the town.
He has sold 30 homes in the suburb this year.
Mr Gresham said the upcoming completion of the international terminal at Newcastle Airport in Williamtown and new infrastructure, such as a retail development on Fullerton Cove Road anchored by a Woolworths supermarket, were drawing buyers across the bridge.
He said Stockton offered a more affordable price point for buyers seeking a beachfront location within the Newcastle LGA.
Recent purchasers along Mitchell Street include a former Bar Beach resident and a cashed-up social media influencer from Newcastle.
"There are only two beachfront locations in the Newcastle LGA where Torrens titled homes reside: Mitchell Street in Stockton and John Parade in Merewether, but the price point is very different," Mr Gresham said.
"A three-bedroom, two-bathroom and one-car house on John Parade will set you back $9 million-plus, whereas a five-bedroom, two-bathroom house with a three-car garage in Stockton will be $3.3 million to $3.5 million.
"When the airport opens, I believe beachfront [property] in Stockton will reach $5 million pretty quickly."
While beachfront homes are delivering multi-million dollar results, cottages without a water view are also attracting big figures.
A four-bedroom weatherboard cottage in its original condition at 220 Dunbar Street recently sold for $1.25 million.
Meanwhile, 205 Mitchell Street sold as a knockdown rebuild project for $3.030 million in August.
"People are paying $1 million to $1.2 million for a knockdown in a back street in Stockton," he said.
"They are bulldozing them and rebuilding, and while it's a $2 million exercise once you knockdown and rebuild, where else can you get a brand new home in a seaside suburb for that price?".
