Newcastle - Central Coast, NSW
The Newcastle property market has been one of the nation’s strongest property markets over the past five years. Price growth averaged 7.6% per year from 2013 to 2018. Now after a brief hiatus, it is again showing signs of growth.
Newcastle has a rising economy, having benefited from major new projects in the city and the nearby Hunter region.
Extensive urban renewal in the Newcastle CBD is drawing in new corporate trade and tourism, giving Newcastle one of the lowest office vacancy rates in Australia.
Other key projects keeping the Newcastle economy strong include residential construction, Defence contracts and upgrades to transport infrastructure, together with significant expansions to both the Newcastle Port and University of Newcastle.
Newcastle is already the world’s biggest coal export port and major upgrades to export facilities occur regularly. A $1 billion upgrade to the Newcastle Airport and RAAF Base is also under way.
The city presents an appealing formula for property investors: affordable prices relative to Sydney, an overall solid growth record and major impetus from economic activity in and around the city.
This report covers the Newcastle LGA including the suburbs of Adamstown, Adamstown Hts, Cameron Park, Cooks Hill, Fletcher, Hamilton, Kotara, Lambton, Mayfield, Merewether, New Lambton, North Lambton, Newcastle, Newcastle West, The Hill, Shortland, Stockton, Wallsend and Waratah.