Newcastle is a major city and the largest coal port in the world. Although it’s rarely included in property statistics its population is larger than cities like Hobart, Adelaide and Darwin.
After BHP left the city residents were concerned for it’s future but recent developments along the foreshore, in the city (highrise apartments) and with transport (lightrail) the city is starting to boom.
Newcastle joins Lake Macquarie council in the South and the Hunter Region in the West and Port Stephens in the North and has a regional airport which is expected to accept International flights in the near future.
It is a city of beaches, foreshores, cultural buildings yet it is gentrifying with cafes and eateries in Wickham, Carrington and Islington which were once industrial suburbs.
I’m not sure whether I seem to notice more good news about the Newcastle area because I’ve moved up here or because EVERYONE is moving up from Sydney.
Admittedly I can see all the house and land blocks being built, roads being improved, traffic lights being put in as well as a luxury marina and restaurants and soon to be Pullman Hotel being built, so it must be true!
Here are some stats that I’ve received lately, including the downloadable PDF report from QBE.
I’ve been a Sydney sider all of my life, until 2015 when I moved up to the Morisset Peninsula where a lot of Northern Beaches residents seem to have moved to. Until I moved up this way Newcastle was just some little town like Wollongong – in other words I had no idea what it was like because it wasn’t Sydney!
What I’ve seen since being up here has been overwhelming and here are some stats for you..
I moved to the Morisset peninsula so my family could have more time having fun in the backyard and pool. We live close to the lake, there are plenty of good schools, several shopping centres and property prices are increasing quickly.
Sydney’s high property prices have pushed first home owners and property investors further out and increased demand on regional areas. While some people are looking to move out of the city to the Central Coast or Hunter regions, property investors are looking for the next growth area to invest in like the inner suburbs of Newcastle or low priced alternatives like Morisset and Cooranbong, where it is still close enough to commute to Sydney but house prices are low and increasing.
Bad Rap, but close to Newcastle, Beaches and Lake!
Windale, a suburb of Newcastle, is portrayed as one of the most disadvantaged communities in NSW. It has some of the highest rates of unemployment, substance abuse and social housing in New South Wales but much of the social housing has already been sold to investors and first home owners and at VERY cheap prices!
Would you kick yourself if you didn’t invest in a property in one of the closest suburbs to Newcastle at these prices?
This March, the U.S. Federal Reserve raised the country’s cash rate a quarter of a percent, to 1.75 percent. It’s the first time in 18 years, the U.S. has raised the cash rate higher than Australia’s, which remains unchanged at a record low 1.5 percent.
If you’re still looking to invest in real estate Cessnock might be a good low risk, high return strategy