Newcastle, Maitland and Hunter
After successfully shaking off the steel industry past, Newcastle and the Hunter Valley are attracting a lot of interest from investors. According to local newspaper the Newcastle Herald 17 suburbs in the area are likely to be the best performers in Australia over the next few years with some suburbs being forecast to rise 10% a year on average. So let’s have a closer look at the top hunter hot spots.
Australia’s 7th largest city, Newcastle is a very attractive city for investors. Boasting a relaxed lifestyle with world class beaches and the largest saltwater lake in Australia, Lake Macquarie, Newcastle certainly has a lot to offer.
Newcastle is a very stable city with a diverse industry, low unemployment, good rental yields and steady capital growth. Newcastle also benefits from a relaxed lifestyle which is very attractive for renters.
Houses close to the inner city are in the $350 to $400 range which is considerably low compared to the major capital cities like Sydney.
Newcastle was also recently named the “7th hottest city on the planet for tourists” by Lonely Planet, an influential travel commentator.
Georgetown is close to Newcastle and has a good range of family homes including some four bedroom houses. The properties are very affordable and have a lot of potential for quick renovation.
For just over $400,000 Mayfield has a number of newly renovated three bedroom houses that are increasingly in value thanks to outside investment. Mayfield benefits from its close proximity to the city and strong rail and bus links. The suburb also benefits from varying land sizes which is very promising for future development.
On the northern bank of the Hunter River, 1 kilometre north of Newcastle is the suburb of Stockton. Even though the suburb is close to the city it is in an isolated area in between the Pacific Ocean, Hunter River mouth and sand dunes. Stockton is historically a working class neighbourhood with a strong history in the coal mining industry. The area is experiencing a lot of young professionals moving to the area from elsewhere in the state.
A recent industry report indicated that Stockton is forecasted to experience a 10% growth per annum over the next eight years which could put it among the 100 fasted growing property markets in Australia with above average growth.
$400,00 will buy you a pretty impressive view and a relaxed lifestyle with some of the best beaches in Newcastle being within walking distance. Stockton has plenty of sports facilities, parks, schools and clinics with some good shopping opportunities.
26% of people in Stockton are renters which is a healthy balance between investors and owner occupiers.
Situated 163 kilometres north of Sydney, Maitland has a median house price of $338,000 which is affordable whilst still attracting decent returns.
Maitland is likely to see some strong growth in the property market due to some strong infrastructure investment like the Hunter Expressway which will link Newcastle to the Sydney Freeway.
According to top analysts, the Hunter valley looks set to be one of the forerunners for capital growth in Australia after shaking off its steel industry past to become an innovative, vibrant area to live and work in.
The growth in the Hunter Valley looks set to continue thanks to the coal industry where new mines are opening, existing mines are being expanded. In addition to the coal industry, the Hunter Valley is attracting a number of other sectors like wine making, hospitality and tourism.
The new infrastructure projects in the area are helping to support the continuing growth in the area and will continue to produce impressive results for the years to come.