Three growth suburbs from Newcastle property market to buy in

0

- Advertisement -

These are the top three growth suburbs to buy in around the Newcastle area.

From prestige property to affordable, there are areas in Newcastle that are defying the current market downturn, with positive growth seen in several suburbs.

Recent data from CoreLogic shows that some suburbs have increased in property value over the past year, despite the fact that the majority of the Newcastle and Lake Macquarie market has experienced a 8.1 per cent drop.

With a median house price of $541,265, there is value to be found in ‘Newy’, where most suburbs are in proximity to beautiful lakes, beaches and wineries.

MORE: Astonishing Hansel and Gretel homes

Just 90 minutes from Sydney for under $90k

Here are three of the best growth suburbs in the popular region just two hours north of Sydney.

AFFORDABLE — MARYLAND

This family home in Maryland has a price guide of $530,000-$560,000.

Just a 27-minute drive from the Newcastle CBD and with a median house price of $520,000, Maryland is one of the cheapest suburbs to buy in where property prices are still rising.

CoreLogic shows that 93 properties sold over the past 12 months, with the suburb experiencing growth of 3.5 per cent.

Originally an agricultural area, residential development began in the 70s, making Maryland a relatively new suburb.

Close to some natural wetlands, it is a family oriented residential area.

This large four-bedroom house with a pool at 39 Tulloch Ave, Maryland has a price guide of $530,000-$560,000.

MID-RANGE — WARNERS BAY

This three-bedroom home at 5 East Street, Warners Bay has a price guide of $620,000-$645,000

Set on the stunning Lake Macquarie, Warners Bay is perfectly positioned close to shops, cafes and waterfront activities and is less than 30 minutes from Newcastle city.

There is a shared path along the waterfront esplanade that runs for 9km from Lions Park in Eleebana to the Lake Macquarie City Art Gallery.

With a median house price of $630,000, buyers can find some reasonably affordable homes among the big exclusive waterfronts.

The suburb has risen in property value by 4 per cent over a 12 month period.

This three-bedroom home at 5 East St, Warners Bay has a big backyard, is within walking distance to Warners Bay High School and has a guide of $620,000-$645,000.

SIGN UP FOR THE NSW REAL ESTATE NEWSLETTER HERE

HIGH END — MEREWETHER HEIGHTS

This sprawling home at 1 Roentgen Close, Merewether Heights has a price guide of $1.75-$1.85 million.

Merewether Heights is next door to Newcastle’s most expensive beach ‘burb, Merewether, which could account for the healthy growth of the suburb.

Just five minutes from the sand and 12 minutes to the Newcastle CBD, location is what brings buyers here, as wells schools and the shopping centre at Kotara.

With a median house price of $1.05 million, the suburb is probably not a first home buyers haven, but if you have the cash, this is a top performing place for growth, with a healthy 7.7 per cent increase over 12 months.

This classic “Heights” Family Residence at 1 Roentgen Cl is on a 1176 sqm block has a price guide of $1.75-$1.85 million.

Leave A Reply

Your email address will not be published.