Located about a 2-hour drive North of Sydney, Newcastle has a long and varied history. Once an industrial stronghold, it has been through its fair share of economic ups and downs. However, with the area increasingly shifting focus away from heavy industry, the future is looking bright for this coastal hotspot.
While close enough to Sydney to commute – and with ample transport links – Newcastle now stands firmly on its own two feet. The flourishing tourism, hospitality, and corporate sectors are allowing more people to live and work locally. And, with significant and sustained infrastructure investment in the area, things are only getting better for this famous port city.
Demand for property in the area is increasing, with interest coming from all along the east coast. This is pushing up sale prices and creating plenty of opportunities for capital growth. But, as with any area, finding a great opportunity in the Newcastle property market is all about doing your research.
Below are our recommendations for those considering investing in Newcastle property.
Luke and Julian each have over 20 years of property investment experience.
As a traditionally working-class area, Newcastle has long been considered an “affordable” market. However, this has changed considerably over the last decade with the area undergoing a significant transformation. This has led to consistent growth in property prices, a trend many believe will continue for the foreseeable future.
Local market experts and buyers agents consider the area a hidden gem. But, with the population expected to grow by about 33% over the next 15 years, this will not be the case for long. This growth builds on 5 years of strong performance, with an average 7% annual increase in property prices.
The strength of Newcastle’s property market has been on full display recently with street and suburb price records being regularly broken. This is complimented by the area’s rental market, which is seeing most properties leased within a matter of days. Property Managers are also reporting that many places are being leased at higher than the advertised rate after receiving 10+ applications.
Given Newcastle’s long connection with water (the local port is Australia’s oldest), it is unsurprising that water views command a premium. However, we recommend investors consider areas like Wickham, right in the heart of Newcastle, for healthy rental yields. Alternatively, the more family friendly suburbs of Lambton and Islington remain relatively affordable and provide plenty of growth potential.
At Search Party Property, we specialise in helping investors buy properties. It is that simple.
As professional buyers advocates, we support you through every step of the process –from initial research to securing the property. We can even help plan how to maximise rental potential and returns, including any renovations required.
To make sure we are providing the support you need, we start by getting to know you and your goals. We take the time to understand your situation and where you would like to be in 5 – 10 years. We also work with you to develop your investment strategy, taking into account your unique financial situation and risk appetite.
Once we know the type of investment you are after, we will start looking for the perfect opportunity. Our expert team are passionate about property and constantly keep across all the hottest markets. We are also experts in spotting potential and will assess each property that comes available.
Having been in this industry for over two decades, we understand that there is no substitute for quality research. When assessing a property, we do not just rely on our own knowledge – we also look at many other factors. Depending on the area, this could include recent market data, local demographics, and local infrastructure and development plans.
When we find a property we believe suits your situation and goals, we will share it with you. We will also provide the insight gathered through our research and get your thoughts. If you are interested in proceeding, we will organise all the inspections and reports, and help you negotiate the purchase.
We take all the guesswork out of investing in real estate. So, whether you love property or are just looking for a way to build wealth, Search Party Property can help. Call us today to discuss how we can help secure your financial future.