A waterfront property being offered to the market for the first time is aiming to set a new price record in Lake Macquarie, less than a year after a neighbouring home established the benchmark for the suburb.
Property details and price guide
Neil Fry of Belle Property has listed the four-bedroom house at 1 New Street, Belmont South, with a price guide of $2.45 million to $2.65 million. Situated on a 513-square-metre corner block, the home is designed to make the most of its position.
"It is a substantial home," Mr Fry said. "It's on the corner of New and Clara Streets, and the benefit of this one is the whole length of the home faces north. It captures the winter sun and takes advantage of the nor'easter breezes."
Floor plan and features
The two-storey floor plan includes wide balconies on each level offering uninterrupted views across Village Bay. Upstairs comprises four oversized bedrooms, including a 44-square-metre master suite with an ensuite, walk-in robe and balcony access, plus the main bathroom. The ground floor features an expansive open-plan living, dining and kitchen area, a third bathroom, and a study that could be used as a bedroom.
"The home was designed and built by a retired engineer who has since passed away, so it is well-built with generous proportions, high ceilings, and has a large open plan," Mr Fry said. "The floor plan has a clever design to accommodate for guests, and downstairs has a study that is bedroom-sized that was built to take advantage of the view. It's not a bad fallback for someone if they needed a bedroom on a lower level."
The property also features a triple-car garage and secure driveway space. "It has the retirees' wish list covered," Mr Fry added. "If they have a car collection or those types of vehicles associated with lifestyle, whether it's boats or caravans, it's ideal."
Record price context
The current record for a residential property in Belmont South was set in July 2025 at $2.45 million following the sale of a three-bedroom new build at 5 New Street, just two doors away. That home occupies 442 square metres across a single level. The sale smashed the previous suburb record of $1.47 million, which had stood since March 2024 for a three-bedroom house on 367 square metres at 4 Paley Crescent.
According to the latest Cotality data, the median house value in Belmont South is $992,000. House values in the suburb have experienced a steady 2.9 per cent increase over the past year and have almost doubled since 2021 with a 45.8 per cent surge.
