THE latest data from CoreLogic this month revealed that the median house value in Newcastle and Lake Macquarie has dipped to $815,469.
So, what will that buy?
Here are four properties for sale in the region that fall under the current median value:
3 Council Street, West Wallsend
Original 1950s charm and a freshly renovated kitchen and bathroom are on offer at this two-bedroom home at West Wallsend.
Set on a large 541 square metre block on a quiet street, this property is for sale with a guide of $695,000 to $755,000.
Ideal for a first-home buyer, downsizer or investor, listing agent Troy Duncan of First National Real Estate said there is enough space in the large backyard to add an extension or a granny flat.
"It's a good sizes block of land so you have potential for a granny flat or if people want the big shed of their dreams, there is room to build," Mr Duncan said.
"It's also in a quiet street and within walking distance of all the amenities. Overall, it has that nice location but it also has that charm.
"When you walk into this home it just has a certain feel about it and lots of lovely little details."
Features include high ceilings, timber floorboards, picture rails and ducted air conditioning.
The newly renovated bathroom has a clawfoot bathtub, floating vanity and contemporary black hardware, while the kitchen has crisp white cabinetry and matching black appliances.
The house is open for inspection on Saturday at 11am.
27 Holt Street, Mayfield East
This picture-perfect cottage in Mayfield East is listed for sale with a guide of $750,000, falling well below the median house value in Newcastle.
The two-bedroom cottage has been completely renovated inside and out, embracing the home's heritage features with contemporary updates.
It features an open-plan living, kitchen and dining area, with original wooden shutters and ornate ceiling rose adding to the charm of the property while the use of skylights allows light to flow into the home.
The shaker-style country kitchen features with timber benchtops, subway tiles and a large chef-style Blanco free-standing range.
The main bedroom includes a walk-in robe and study area and the second bedroom has a large built-in wardrobe.
The property is listed for sale with PRD Presence and is open for inspection on Saturday at 1pm.
88 Verulam Road, North Lambton
If you dream of living in the prized pocket of New Lambton, this neighbouring suburb offers close proximity with all the convenience of the popular village's central location, but without the high price tag.
This neat three-bedroom, one-bathroom home on a 645 square metre block is on the market in North Lambton with a price that is well under the current median of $815,469.
It is listed for sale with a guide from $750,000 to $780,000 with Elders Real Estate.
The home has been held under the same ownership for the past 58 years and includes multiple living areas and an elevated position looking across the city.
Ripe for renovation - whether cosmetic or major - there is a formal lounge room, dining and rumpus room and a large elevated balcony, while the backyard has an outdoor entertaining area, established gardens and a double-length carport.
"Obviously, it's a 1960s build but the house itself is in really good condition," Elders Real Estate listing agent Scott Richardson said.
"Older homes offer a lot, with high ceilings and timber floorboards and multiple living areas, but I think the biggest appeal with this property is the location and the elevated position.
"You get that easterly breeze in the afternoon which is quite nice. I ran a couple of inspections there this week and it was beautiful on a hot day to have that breeze come through."
The house is open for inspection on Saturday at 10am.
3/213 Excelsior Parade, Toronto
Investor or downsizer looking for a lifestyle location close to Lake Macquarie?
This stand-alone townhouse, which offers three bedrooms, two bathrooms and a secluded bushland outlook from the expansive balcony, is listed for sale with a guide of $749,000 through Avery Property Professionals.
Spread across two levels, the residence is located 450 metres from the main street of Toronto.
The open-plan living, dining and kitchen have large windows to enjoy the aspect of lake glimpses through the trees, and the third bedroom downstairs opens out to a private courtyard.
Other features include ducted air conditioning and an ensuite in the master bedroom.
"It's stand-alone townhouse which is its biggest advantage," listing agent Craig Avery said.
"It offers a bit of flexibility for those who want to invest in the short term or eventually retire into and get close to Toronto.
"It's also within 500 metres of everything Toronto has to offer."
The property is open for inspection on Saturday at 10am.
