A newly-built Cessnock home has recorded the suburb's first $1 million residential sale.
The four-bedroom home at 16 Portrush Avenue, near the golf course designed by Australian great Jack Newton, sold for $1,095,000 after being listed with a guide of $995,000 to $1.09 million.
About 10 Cessnock properties had breached $1 million before last month's sale, all of which were either acreage properties, located in the exclusive Kelman Estate, or both.
Selling agent Michael Denton, of Jurds Real Estate, said the property had attracted between 15 and 20 parties to open homes.
"It came on the market when the market was starting to slow," Mr Denton said.
"So the fact we're able to get the suburb record not in the boom, but basically as the market was turning down, I think is a fairly important point.
"In that area I can't see a lot coming up that will surpass that for a little while, especially if the market is starting to cool."
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The 1022 square metre property is located in the new Stonebridge estate.
The home includes multiple living spaces, a designated kids room and a large butler's pantry.
It also has DA approval for an in-ground pool and cabana.
"The house is very high-end," Mr Denton said.
"It is a large block for the area, it's got a very large Metricon [build of] about 350 square metres under roof."
According to CoreLogic, nine homes have broken the $1 million barrier in the gated Kelman Estate, which takes in an operating vineyard on the border of Pokolbin.
