34 Chilcott Street, Lambton
A busy, professional couple had been looking for their future family home for some time. After many, many inspections, we found this gorgeous home for them and purchased it at auction. They’re now set to start their family in a great location, surrounded by great schools, shops and amenities.
Bought at Auction: $1,550,000
Suburb Snapshot: Lambton
Lambton is a highly desirable suburb 8 kilometres from Newcastle’s central business district. It has excellent amenities including Lambton Swimming Centre, Lambton Park with tennis courts, sporting fields and a children’s playground. There is a library, several pubs and a great village shopping centre.
It is zoned for Lambton Public School and Lambton High School, which are very highly regarded and sought-after.
Lambton is approximately 2.8 square kilometres. It has 10 parks covering nearly 6.3% of total area. In 2016 the population was 4,915.The predominant age group in Lambton is 40-49 years. Households in Lambton are primarily couples with children and are likely to be repaying $1800 – $2399 per month on mortgage repayments. In general, people in Lambton work in a professional occupation. In 2011, 60.4% of the homes in Lambton were owner-occupied compared with 61.7% in 2016.
Currently the median sales price of houses in the area is $930,000.
Based on five years of sales, Lambton has seen a compound growth rate of 6.9% for houses and 29.2% for units.
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