The Hill is an inner city suburb of Newcastle located immediately south of Newcastle’s central business district. It is known for its historic Victorian terraces and King Edward Park, a sprawling picturesque park which overlooks the city and the ocean. The Hill is one of the most exclusive and expensive suburbs of Newcastle.
The Hill is approximately 0.6 square kilometres. The population of The Hill in 2011 was 1,716 people. By 2016 the population was 1,940 showing a population growth of 13.1% in the area during that time. The predominant age group in The Hill is 20-29 years. Households in The Hill are primarily childless couples and are likely to be repaying $1800 – $2399 per month on mortgage repayments. In general, people in The Hill work in a professional occupation. In 2011, 46.9% of the homes in The Hill were owner-occupied compared with 44.7% in 2016.
Currently the median sales price of houses in the area is $2,600,000.
Houses in The Hill rent out, on average, for $735 PW with an annual rental yield of 2.1% and on average, units rent for $450 PW with a rental yield of 4.0%.
Based on five years of sales, The Hill has seen a compound growth rate of 5.2% for units.
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