Is Newcastle in for a property boom?
Newcastle may soon see new developments as calls for a high speed train appeared to have been heeded by the right parties. Japan’s bullet train general manager also talked to the community on the benefits of bringing such link to life, according to a new report from ABC.
It has been a while since members of the community have called the attention of the officials to building a high speed train link between Newcastle and Sydney. According to reports, building such link can cut the travel time between the regions to as much as 39 minutes.
“If you drive to Sydney [from Newcastle], it takes two hours, but by high speed rail it takes just 40 minutes,” explained Shohei Yoshida – who also manages the Tokaido Shinkansen.
“With access to Sydney, it would be very easy for many people to commute and many tourists might come to the Hunter region by high speed rail.”
The high speed train link could move thousands of people to and from the regions allowing surge for many aspects of the suburb. More people in the area can also lead to more opportunities including in real estate and the overall economy of the suburb.
This will create opportunities for real estate agents and interested parties. Newcastle offers a lot of land to be tapped into. Bringing more people into the area can be strategic for those looking either to make or offer a property investment. Property prices also stand to increase should the high speed rail become a reality.
Should property lots be up for sale in Newcastle then there could be incremental growth to be expected.
3 quick tips on investing in Newcastle
- Build your local business connections. As part of buying a property in Newcastle you may need the help of certain local professionals like conveyancers, real estate agents, building and pest control experts. Spend some time upfront, getting to know the go-to local businesses so that you feel comfortable working with them when the time comes.
- Know the best parts of Newcastle to invest in. The Newcastle region is huge and certain “spots” may be better investments than others. Understand the pros and cons of investing in certain areas. You may need the help of a local buyers agent for this. It may be worth spending a few days or weeks there and really getting to know the area before you invest there.
- Understand your short and long term goals. Is the property only for investment purposes? Are you likely to move into the property at some point? Do you plan to sell the property in 3, 5, 10 years or never? Being able to answer these questions will help you identify the right property.
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