Purchased: 06.01.2023 $1,060,000
Potential Rent: $750.00
Yield: 3.7%
A client came to us searching for her new family home. She had only been in Newcastle for a short while and was open to different suburbs. After seeing many homes in numerous locations, she decided Valentine was her preferred area. She had ruled this property out. However, we went to see it, called her and told her to come down to the open house. She fell in love with it and we purchased it that day! She’s planning a huge renovation with a pool.
Contact Property Solutions 101. Discuss your Newcastle commercial and residential property management and buyer’s agent needs.
Suburb Snapshot: Valentine
Valentine is a part of the City of Lake Macquarie and is 20 kms to the Newcastle CBD. It is separated by Croudace Bay Road. On the western side is the lake with reserves, parks, a primary school and village shops. Valentine is a highly desirable location for buyers with its leafy streets and proximity to Belmont hospital.
Valentine is approximately 4.9 square kilometres. It has 14 parks covering nearly 5.4% of total area. The predominant age group in Valentine is 50-59 years. Households in Valentine are primarily couples with children and are likely to be repaying $1800 – $2399 per month on mortgage repayments. In general, people in Valentine work in a professional occupation. In 2011, 87.2% of the homes in Valentine were owner-occupied compared with 86.6% in 2016. Currently the median sales price of houses in the area is $1,100,000.
Based on five years of sales, Valentine has seen a compound growth rate of 22.2% for houses.
Contact Property Solutions 101. Discuss your Newcastle commercial and residential property management and buyer’s agent needs.