One of the most transformed cities in Australia, Newcastle is hardly recognisable compared to its industrial past. Traditionally Australia’s oldest and largest coal export port, Newcastle has answered the stresses of rising Sydney real estate prices by offering an alternative lifestyle for property seekers of all ages, with jobs in agriculture, education, health, services, and tourism to make the move viable.
If you are looking for Newcastle real estate for sale, don’t limit yourself just to apartments and don’t limit yourself just to Newcastle! Affordability in Newcastle compared to Sydney allows for greater choice and access to properties that promise strong long term capital growth within an economically and socially burgeoning city. As well as areas north and south of Newcastle, there are also many opportunities in terms of Hunter Valley real estate for sale, and there is one thing driving people to flock to the region: wine.
Shiraz and Chardonnay continue to dominate the region’s exports and the Hunter Valley’s 150-odd cellar doors continue to be a main attraction for weekenders from Sydney, international visitors, interstate tourists and property seekers alike. On top of this, attracting more people seeking apartments, units, and freestanding homes are the surrounding regions of Port Stephens, Lake Macquarie, and Maitland, all offering differing living experiences.
There has never been a better time to invest in Newcastle and its surrounding regions, as prices are already on the move up. While the median unit price in Newcastle has risen over the past several years ($527,000 three years ago compared to the current of $595,000) there has been significant growth in house prices, with the median in Newcastle East increasing 33% from $860,344 three years ago to $1,150,000 today.
Only a two-hour drive from Sydney, Newcastle continues to be a destination point for visitors and property seekers alike. Whether it be the growing hospitality industry, shopping areas such as the Beaumont Street Precinct or the spectacular beaches onto which the city looks, the wind is definitely blowing in Newcastle’s favour and there are opportunities for a property investor or home owner to make the most of these changes.