Properties in Tighes Hill are transacting for big numbers as buyers seek out waterfront homes on Throsby Creek.
The latest property to fetch a signficant price in the suburb is Walkom Real Estate agent Thomas Hook's listing of a modern, industrial-style home on the water at at 7 Francis Street.
Mr Hook was unable to comment on the sale, however, CoreLogic records show it sold for a suburb record within its guide of $2.6 million to $2.8 million.
The result smashes the previous $2.15 million suburb record set in May last year with Wilton Lemke Stewart's sale of a four-bedroom new build at 46 Tighes Terrace.
Unlike the property at 7 Francis Street, the house at Tighes Terrace was not on the waterfront.
Built in 2002 as the residence of two artists, the five-bedroom, three-bathroom house had undergone a recent renovation across its two levels.
Features include a large studio on the ground floor and a master bedroom with 3.9-metre high ceilings, a walk-through robe and an ensuite with a freestanding stone bath.
It has an open-plan kitchen, living and dining area on the top level, with a balcony overlooking the water.
CoreLogic records show the property last sold for $825,000 in 2011.
Ray White Newcastle listing agent Brett Bailey has been selling property in Tighes Hill since 1997.
He said the suburb record result was not surpising given the high level of demand for waterfront homes in Tighes Hill.
"It's not a surprise," Mr Bailey said.
"In order to buy a proeprty in that spot on that size block and put a modern, large-scale home on it, you would have to spend over $2.5 million."
He sold the property next door at 5 Francis Street in September last year for $1.55 million.
The auction of the three-bedroom weatherboard home drew nine registsred bidders vying to secure a home in the sought-after waterfront location.
"Those buyers came from Tighes Hill, so you have Tighes Hill residents buying in the suburb on a better position," he said.
"The waterfront is a very rare spot and you are basically five minutes from the city, and you have a peaceful water outlook.
"Because the creek loops around the suburb, you have an open, green park-like vista from any lcoation around on the water."
Other waterfront homes in Tighes Hill sold by Mr Bailey include 10 Union Street which fetched $1.5 million in November 2023 and the $1.53 million sale of 8 Union Street in May this year.
Mr Bailey said the suburb attracted a mix of young families and older people.
"In my experience, the suburb draws people who think outside the square and are community-minded," he said.
According to CoreLogic, the median sale price of a house in Tighes Hill is $968,000.
