The Junction is a small, inner city suburb of Newcastle, located 2.8 km southwest of Newcastle’s central business district. It was originally part of Merewether and is very popular with all age groups due to it’s proximity to the city, beaches and excellent schools. It features great amenities including shops, cafes and pubs.
The Junction is approximately 0.3 square kilometres. The population of The Junction in 2011 was 1,495 people. By 2016 the population was 1,048 showing a population decline of 29.9% in the area during that time. The predominant age group in The Junction is 20-29 years. Households in The Junction are primarily couples with children and are likely to be repaying $3000 – $3999 per month on mortgage repayments. In general, people in The Junction work in a professional occupation. In 2011, 50.1% of the homes in The Junction were owner-occupied compared with 57.9% in 2016.
Currently the median sales price of houses in the area is $2,000,000.
Houses in The Junction rent out for, on average, $695 PW with an annual rental yield of 2.6% and units rent for $500 PW with a rental yield of 3.2%.
Based on five years of sales, The Junction has seen a compound growth rate of 8.1% for houses.
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