We knew Newcastle was popular, but the success of our 2015 post ‘Consider Newcastle before you buy your next property’ well and truly proved it!
The property market is ever-changing, so we wanted to follow up and see what the differences are between Newcastle and Sydney real estate markets in 2017. Our previous comparisons piece was in 2015 and the real estate market in Newcastle has changed since then.
In particular, there has been even more Government infrastructure investment and development in Newcastle since we wrote the article in 2015 and so far it doesn’t seem to be slowing down.
There is exciting time ahead for Newcastle with extra investments announced, on top of the already committed $6.142 BILLION infrastructure developments including;
– $13 MILLION – a brand new cruise ship terminal
– $9.8 MILLION – Hunter Innovation Project
PLUS it is expected that the V8 Supercars will bring in over $57 MILLION in 2017 in the form of boost into the local economy with over 80,000 national and international visitors.
This on top of the already committed, and in some cases completed, developments including:
– $1.8 BILLION – Hunter Expressway
– $1.75 BILLION – Port Privatisation
– $200 MILLION – Hunter Region Roads
– $1.5 BILLION – Williamtown RAAF Base
– $80 MILLION – Newcastle Airport
– $223 MILLION – Wickham Transport Interchange & Light Rail Project
– $95 MILLION – Newcastle University City Campus
– $400 MILLION – Urban Growth / GPT Hunter Street Mall
– $94 MILLION – State Law Courts
If you haven’t already been looking seriously at purchasing in Newcastle – it’s best you act now. Newcastle is only two hours’ drive north of Sydney, it also boasts an impressive airport and currently new transport options are currently underway within the city itself. Best of all, Newcastle can offer you more affordability and better rental returns on your property investment.
If you’re not from the area you may be worried that you don’t know where the best areas are to buy in Newcastle. Or perhaps where the best schools are in the area. We also frequently get asked about flood zones and who is the best choice for pest and building reports.
That’s were an experienced and knowledgeable local Newcastle Buyer’s Agent, like Property Solutions 101, will help you solve all these problems and often save you thousands in the negotiation process.
So if you are considering buying property in Newcastle, rather than Sydney, you are on to a hot ticket! Below are some recent sold properties we have compared for you. It will give you an idea of the vast differences in prices as well as the distances to travel from each city. (Of course those times mentioned are approximates, especially during peak hour traffic.)
APARTMENTS
SYDNEY
(images via realestate.com.au)
40/107 Macpherson St Bronte, NSW 2024
2 Bedrooms, 2 Bathrooms, 1 Car Space. SOLD 6th April 2017 for $1,700,000
This quality two bedroom apartment that is north facing with impressive panoramic ocean views. It has an open plan design and a covered balcony for all year round entertaining. The beach is a mere 800 m away with local transport and shopping within walking distance. The master bedroom also boasts built-ins and ensuite. Bronte is a popular beachside suburb and equally loved as its more famous neighbour Bondi Beach. Bronte is renown for the café & restaurant scene plus its own exceptional beach. The city is 22 mins via car (depending on traffic and peak hour) with other transport options available nearby.
NEWCASTLE
(images via realestate.com.au)
8/2 Ocean St, Merewether NSW 2291
2 Bedrooms, 1 Bathroom, 1 Car space. SOLD 31st March 2017 for $770,000
Currently renting at $500 a week.
(This property was purchased by the team at Property Solutions 101)
This fully renovated apartment is absolute beach front with views of Merewether Beach from all rooms. This apartment is north facing and has modern kitchen and bathroom with fully enclosed balcony area to enjoy the views no matter what the weather. Located in the popular beachside suburb of Merewether it is just a short distance from a choice of beaches, cafes, shopping boutiques at The Junction and close to the city centre of Newcastle. It takes approximately 7mins to drive by car to get to Newcastle city centre.
PRICE DIFFERENCE
Sydney: $1,700,000
Newcastle: $770,000
Price Difference: Saving of $930,000
FAMILY HOMES
SYDNEY
(images via realestate.com.au)
44 Minnesota Avenue Five Dock, NSW 2046
4 Bedrooms, 2 Bathrooms, 2 Car Spaces. SOLD on 5th Nov 2016 for $2,470,000.
This beautifully presented Californian bungalow has been beautifully renovated and offers space for the whole family. The home is located in a sought after pocket of the suburb with good schools, parks, the Bay Run and Five Dock’s shopping strip within strolling distance. The city is a 17 min car trip (depending on traffic and peak hour).
NEWCASTLE
(images via realestate.com.au)
56 Stanley St Hamilton South, NSW 2303
4 bedroom, 2 bathrooms, 2 car space. SOLD on 2017 for $1,465,000
(This property was secured ‘off market’ by the expert team at Property Solutions 101)
This beautiful property is located in a sought after suburb for families in Newcastle. The property features 4 generous bedrooms with built in’s, formal lounge and fireplace. The kitchen has been designed for open plan living extending into the lounge area with a northern aspect and overlooks the magnificent pool. The property is within close distance to Beaumont St (popular café, restaurant and shopping boutiques strip) as well as numerous good schools. It’s 15 min car trip from Hamilton to Newcastle city centre.
PRICE DIFFERENCE
Sydney: $2,470,000
Newcastle: $1,465,000
Price Difference: Saving of $1,005,000
BEACHSIDE LIVING
SYDNEY
(images via realestate.com.au)
21 Franklin Road Cronulla, NSW 2230
5 Bedrooms, 3 Bathrooms, 2 Car Spaces. Sold for $2,289,000 on 8th April 2017.
This large family home is close to the beautiful Cronulla Beach and embraces beachside living. Fully renovated property with open plan living, modern kitchen and bathrooms plus a stunning pool and outdoor area. Cronulla has it all – the beaches, café and restaurant scene and plenty of gorgeous properties. It also has access to the city via public transport. It’s a popular suburb and its approx 45 mins to the city via car (depending on peak hour traffic).
NEWCASTLE
(images via realestate.com.au)
13 Albury Street, Dudley 2290
5 Bedrooms, 3 Bathrooms, 2 Car Spaces. SOLD for $1,600,000 18th Jan 2017
This architecturally designed property is located in the beachside hamlet of Dudley. It features a contemporary design with 5 generous bedrooms, 3 bathrooms and takes full advantage of its north facing position. The property is on 736sqm of land.
Dudley’s picturesque views, stunning beach and relaxed living make it a popular choice for a variety of people. Dudley is in close proximity to the large shopping centre Charlestown Square as well as numerous schools in the area.
It takes approximately 20mins to drive from Dudley to Newcastle CBD.
PRICE DIFFERENCE
Sydney: $2,289,000
Newcastle: $1,600,000
Price Difference: Saving of $689,000
ADDITIONAL – PROPERTY INVESTMENT OPPORTUNITY
NEWCASTLE
2 Dalvern Close Adamstown Heights, NSW 2289.
3 Bedrooms, 2 Bathrooms, 2 Car Spaces. SOLD ‘Off Market’ for $730,000 April 2017.
Currently renting at $575 a week.
Property Solutions 101 had purchased this property ‘off market’ for our client as an investment property. Due to our professional and efficient reputation with local sales agents, we were able to successfully negotiate and settle this property with no fuss whatsoever. The day this property was settled it was transferred to our Property Management team who had a quality tenant lined up ready to sign the papers that same day.
Adamstown Heights is a popular suburb nearby major shopping centre Westfield Kotara and only 17 mins to Newcastle City via car.
Make the decision to buy property in Newcastle
As you can see from the above properties there is quite a difference in price between the two locations.
Whether you are looking as a first home buyer, investor, downsizing, upsizing – Newcastle can offer you the opportunity to secure your own home.
If you are nervous about purchasing in a location you do not know very well, this is exactly where a buyer’s agent can give you a distinct advantage.
A Buyer’s Agent is a local real estate expert whose job it is to look for, and to purchase property on behalf of the buyer. They are not real estate agents and have no connection with the seller or the agency representing the seller. They are acting in the best interests of the buyer.
The team at Property Solutions 101 have a combined 40 years experience in real estate and are all property owners, developers and investors in their own rights.
By having a professional with years of experience representing you during what will most likely be the biggest financial investment is a huge a relief, especially for buyer’s unsure and a little nervous about the property market.
There are many benefits of hiring a buyer’s agent. This is someone who views up to 30 properties a week, has a huge amount of local knowledge, knows where the flood zones are, finds and recommends up and coming suburb ‘hot spots’, keeps their cool at auctions, saves you from paying extra on an emotional impulse buy.
Plus buyer’s agents also help organise the pest and building report, liaise with conveyancers, mortgage brokers or banks to make sure everything is in line ready for settlement.
Buyer’s agents are here to provide you, the buyer, with a fair representation during the property transaction and settlement. They discover your essential criteria and then go out and find you the perfect property and they use their sharp negotiation skills to secure that property at a fair price. You can sit comfortably from afar knowing you have the best team on hand and an advantage when it comes to viewing and purchasing property.
An added benefit of the Property Solutions 101 team is that we also have a property management arm of the business. The majority of our property investors are able to have the entire process – from purchase through to obtaining tenants – organised by Property Solutions 101.
If you think you would benefit by having Newcastle’s premier Buyer’s Agents represent you during your property search. Get in touch with us via our contact form below or phone us direct on (02) 4047 2121.