Fern Bay a million-dollar regular as properties add $100k a year

A four-bedroom, two-bathroom home at 7 Plover Street sold for $1,025,000 last week through the Agency Newcastle's Craig and Belinda Rosevear.

It was sold as a block of land for $285,000 in October 2015.

At 10 Jabiru Drive, another four-bedroom, two-bathroom home sold on the same day for $992,000 with McKee Real Estate.

The land sold for just $258,000 in November 2014, and went for $665,000 in October 2018 after being built on.

The two sales come in a year that saw seven figures broken for the first time in July, with four more million-dollar results coming in the three months since.

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Another five homes have sold for $980,000-plus since January.

Mr Rosevear said Fern Bay, like many beachside suburbs during COVID, was enjoying a spike in demand from buyers.

"Prices there are continually on the rise," he said.

"In the last couple of months they have just started to tick over that million mark which is obviously a big deal for Fern Bay but it's no surprise - I think for what it offers compared to other suburbs in Newcastle that's pretty good buying still.

"I think the fact that you're close to the ocean and you can get a relatively new build - that's very appealing to people."

The home at 7 Plover Street sold to a young couple from the Hunter Valley.