Want to buy or invest in Newcastle?
As Sydneysiders continue to feel the heat with rising property prices, there is a new region in Australia that is quickly becoming a real estate superstar.
According to reports, Newcastle has been reinventing itself possibly ushering the next big boom.
News.com.au reported that the Newcastle region is seeing a rejuvenated central district, revived city foreshore and considerable investments in transport.
Likewise, the NSW Government has also shelled out $6.5 billion investment to transform the town.
“Newcastle is on the cusp of transitioning from a great regional city to an emerging global city and we are doing our bit as a council to attract investment, jobs and opportunity,” said Lord Mayor Nuatali Nelmes.
As the Sydney property market becomes out-of-control and people compete to get their hands on some real estate, property experts reveal that savvy buyers are beginning to head north.
There are also projections that the population will grow by as much as 33 percent by 2036. Although property prices are expected to rise, the real estate in the region can be a good alternative to cash-strapped Sydney buyers. Not to mention, there is crucial investor interest on top of a median house price of $530,000.
“Construction is booming in Newcastle after the value of approved developments soared 70 per cent last year to take the total green-lighted to more than $3 billion over the past five years,” said Ms Nelmes.
“Another bumper 12 months is expected to follow, with $106 million in building go-ahead in the first month of the financial year and $270 million in applications”.
Need help getting into the Newcastle property market?
Whether you plan to rent, buy or sell, the support of good local property and real estate specialists can make all the difference.
Tradebusters Connect has a Top 3 Local Business Pick Newcastle directory list of recommended property professionals including real estate agents, mortgage brokers, pest control services, accountants can help you navigate the process.
Other Useful Links:
Lake Macquarie Local Directory
Hunter Valley and Cessnock Local Directory
Real Estate Agents Hills District