Why Newcastle real estate stands out for property investors
Why Newcastle Real Estate is a Hotspot for Property Investors
Newcastle is Australia’s seventh largest city and one of its oldest. Many people are captivated by Newcastle’s coastal appeal and dream of owning a waterfront property or stylish apartment in this city. It continues to be a stand-out region in the nation’s property market. The Exodus to Affordable Lifestyle and post COVID rush to regional locations, continues to assist its growth.
Newcastle’s strong economy has also benefited from major projects in the city and the nearby Hunter region. The infrastructure investment into the CBD is now attracting new corporate trade and tourism. Some of the other key projects in the works include residential construction, Defence contracts, upgrades to transport, and expansions into the University of Newcastle.
The Newcastle airport also hosts international travel and the RAAF base could soon be home to a multi-billion-dollar air and missile defence system. Its main hospital is also under significant expansion.
It’s no wonder that Newcastle buyers agents have been kept busy with many investors seeking to take advantage of its strong growth and opportunities. Further, Newcastle’s relatively affordable property prices, economic activity makes it an appealing choice for many investors, particularly those wanting to invest in NSW away from Sydney which is now an unaffordable choice for many.
Understanding Newcastle real estate
The Newcastle property market is quite nuanced, property prices depend on a number of factors. This can mean the difference between a savvy investment and a costly mistake.
Given Newcastle’s history there are many neighborhoods that have recently evolved and while previously may not have been a buyers first choice, significant gentrification and shifting lifestyles has led to spurred growth of previously undervalued hotspots.
The development of infrastructure in Newcastle and its effects is also important to understand when buying a property. While development of housing can be a good thing by reflecting developer confidence in an area’s growth, understanding the balance between how this may alter supply is also critical. Awareness of fire, flood and school zones (all of which Newcastle has to some degree) can impact on property prices and knowing where to potentially avoid is vital to making smart and informed investment decisions.
Lastly, like every other city in Australia, Newcastle supports the community through its public housing initiatives. Unfortunately for homeowners and investors, owning a property near densely populated public housing developments can have its downsides. Before committing to a purchase, ensure you are familiar with the local neighbourhood and make a judgement on whether you would live there. Remember, you need to tenant the property while you own it, so if you’re willing to live in that area, your prospective tenants will likely feel the same way.
How a Newcastle Buyers Agent can help
Using a Newcastle Buyers Agent provides significant advantages when buying in such a nuanced property market. This includes expert market knowledge, skilled negotiation and a personalised approach to buying a property that meets your goals and requirements. Whether you’re looking to invest in key high growth locations or chasing a high yield property, there are opportunities in Newcastle for everyone.
A Newcastle Buyers Agent can also offer access to pre-market and off-market properties to ensure you have access to exclusive opportunities in Newcastle’s competitive property market. If you’re looking for an investment opportunity in Newcastle, contact us today for a free consultation.
