The Newcastle metropolitan area is the second most populated area in New South Wales in Australia. It includes Newcastle and Lake Macquarie local government areas. It is located at the mouth of Hunter river. It is the largest coal exporting harbour in the world. The Hunter Region has large coal deposits. It has a population of 322, 278 as per 2016 census. Newcastle has many well-known educational institutions. The oldest state school is Newcastle East Public School established in 1816. There are 3 selective state school and 2 main independent schools here. University of Newcastle is well known for higher education. It was established in 1951. It offers 150 undergraduate and graduate courses with 38,000 students including 7,000 international students. Hunter Institute of TAFE has one campus located in Newcastle CBD. Basketball, cricket, football, horse racing, ice hockey and Motosport are the popular sports here with clubs and sporting facilities. Newcastle has an excellent transport system covering road network, trams and some rail network. Access to the best of parks and shopping is available. It is a large city that is well developed with all amenities. It is perfect for families with kids, singles and professionals. It is a wonderful neighbourhood with good options to buy and sell homes.
Real Estate in Newcastle
Median selling price for houses here is $1,250,000. This is at an increase of 4.4% in the period April 2019 – March 2020 compared to last year. Median selling price of homes in the previous year was $1,197,500. Total sales of homes was 7 in the period April 2019 – March 2020. Home sales peak in February, June and December every year. The median rent for homes is $500 per week at a growth rate of 2.1%. This is for 23 homes that went on rent in the last 12 months. Median selling prices for units is $672,500 as compared to the same last year at $687,500 . This is at a growth of -2.2% in the last 12 months as compared to the same in the previous year. Total units sold were 211 in the last 24 months. The average median rent for units per week is $480 at a growth rate of 3.7% . This is for 371 units that went on rent in the last 24 months. Newcastle is good for property management as you can buy and sell homes and units currently.
Population in Newcastle
This suburb has a large younger population. There are 20% couples, 70% are couples with no children and 10% are single-parent families. Seniors above the age of 50 are over 700 people. Between 40 to 59 years, there are about 700 people, and between 20 to 39 years there are about 1100 people. Below 5 years, there are about 50 babies and toddlers while between 5 to 19 years, there are about 150 children.
Income in Newcastle
Weekly household income is $1500+ for about 700 households. The same is between $500 to $1499 per week for another 325 households. About 100 households earn below $500 per week. 45% of the suburb’s residents are employed in full-time work, 17% in part-time work, 4% are unemployed and 24% are not in labour force accounting for children and babies. These figures are as per 2011 statistics. 54% of them drive their car to work and 16% walked to work.
Homes in Newcastle
There are 2% separate houses as types of dwellings. 5% semis or terraces and 91% flats are available here. 26% homes are fully owned, 20% are purchasing homes and 51% are living in rented accommodation. Real estate here is good for both investment and rental purposes. No Bull Real Estate is a well-known real-estate agent with a credible reputation. They specialise in Property Management and help you in getting good real estate investments.
For further information about real estate in this area, contact No Bull Real Estate, your most reliable and friendly real estate agents in Newcastle and Lake Macquarie. Buying, selling, leasing for residential, commercial, industrial property, contact your local expert to buy, sell or lease today on 49552624 or https://www.nobullrealestate.com.au