Bought: $1,417,500
Potential Rent: $825pw
Potential Yield: 3%
A local family who had bought their first home through us wanted to buy a new home with a northerly aspect, in a location within walking distance to parks, schools and shops. After looking at many homes throughout Newcastle and Lake Macquarie, they decided this was the house for them. We negotiated hard and purchased within days of it coming to market.
Suburb Snapshot: Adamstown
Adamstown is a suburb of Newcastle, New South Wales, Australia, located 6 kilometres from Newcastle’s central business district. It’s very popular due to it’s central location, shopping strip and schools.
Adamstown is approximately 3 square kilometres. The population of Adamstown in 2011 was 5,642 people. By 2016 the population was 6,053 showing a population growth of 7.3% in the area during that time. The predominant age group in Adamstown is 20-29 years. Households in Adamstown are primarily couples with children and are likely to be repaying $1800 – $2399 per month on mortgage repayments. In general, people in Adamstown work in a professional occupation. In 2011, 58.7% of the homes in Adamstown were owner-occupied compared with 57.7% in 2016.
Currently the median sales price of houses in the area is $1,112,500.
Based on five years of sales, Adamstown has seen a compound growth rate of 30.5% for houses and 41.7% for units.
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