Another financial year has come and gone and we are all making the charge for Christmas, already. The world seems to be turning faster and faster every year. Fortunately, there are those among us who are prepared to apply the brakes and take things slow for the benefit of others. Lucas Ferrari, Green St Property’s Sales Executive, is such a man and has taken time out of his hectic sales schedule to compile a hit list for the best places to park your real estate dollars – if you’re feeling so inclined.
Green St Property are renowned for their attention to market research and have developed a distinct formula for predicting suburb growth and trends. There aren’t too many agencies in Newcastle who are prepared to give this stuff away, so take the time to review the recommendations that follow.
Find the place that’s right for you, with Green St Property – a Place for Everyone.
“I’m not launching any real surprises with this opener,” admits Lucas.
“The growth experienced in Merewether has been sustained year on year since 2013. The past financial year showed a definitive growth of 14.3 per cent, following the major boom through 2017 – a 24.3 per cent increase in pricing.”
“Merewether is, rightly, blitzing the market for people looking for the full package in real estate: location, quality neighbourhoods, valuable community infrastructure, and easy living…..and the beach!”
Houses, units and land sales have all experienced similar growth levels in this suburb, with investors and residents attracted to the enviable lifestyle of the beachside village scene. Surf, cafes, clubs are all part of the neighbourhood, and commuters enjoy plenty of options for getting to work – public transport hubs are nearby, and the CBD of Newcastle is a reasonable walk or ride for most.
Get set to invest around $1.2million for a property in this pristine location – you’ll never regret a single dollar invested.
MEREWETHER MARKET TRENDS
Median 12 month -3.94% -14.59%
Median 3 years 41.8% 20.59%
Median 5 years 58.58% 55.3%
10 years average annual 7.25% 8.49%
2291 MEREWETHER HEIGHTS
A short drive up the hill from beachside Merewether is the charmed life of the suburb fondly referred to as “The Heights”.
“Larger land sizes and leafier surrounds have attracted a slightly different buyer than Merewether over the years; and even with a bit more fluctuation in pricing since 2010, the Heights still saw a 25.2 per cent boost last financial year,” Lucas recalls.
Buyers will achieve their dream home purchase in Merewether Heights for around the million-dollar mark.
“The attraction of the Heights remains its access to beachside living, but at a slightly more achievable price point for families. Everything this city has to offer is still only a moment’s drive away,” says Lucas.
“Merewether Heights is also next door to the Glenrock National Park. A world of adventure opens up on your doorstep if you choose to invest in this remarkable suburb.”
“Here, you’ll be surrounded by families and a sense of community.”
MEREWETHER HEIGHTS MARKET TRENDS
Median Quarterly 3.29% N/A
Median 12 month 5.05% N/A
Median 3 years 38.35% N/A
Median 5 years 37.65% N/A
10 years average annual 8.38% N/A
2300 COOKS HILL
“You’re going to be hard-pressed to make a bad investment anywhere in this borough, as Cooks Hill has experienced consistent growth since 2013,” says Lucas.
2017 was the standout year, where properties across the house, unit, and land market increased in value by more than 33 per cent.
Cooks Hill is tucked into 700 square metres at the southern end of Newcastle and boasts outstanding lifestyle features – flat, easy walks from home to beaches, restaurants lining the famous Darby Street, as well as beautiful boutiques, galleries and the city itself.
“Everything that Newcastle is renowned for is right here in your postcode, for around the $1.1 to $1.3 million mark,” remarks Lucas.
People tend to buy and stay in the Cooks Hill area, so it’s worth keeping an eye on the movement to take advantage of the next sales boom.
COOKS HILL MARKET TRENDS
Median 12 month 2.5% 5.08%
Median 3 years 54.45%34.78%
Median 5 years 89.5% 63.16%
10 years average annual 9.72% 6.93%
2300 THE HILL
“The Hill has a real ‘San Francisco’ vibe to it; streets running from Hill to Harbour with pit stops at the many cultural and lifestyle precincts along the way,” says Lucas.
Families love settling on the Hill because of its closeness to iconic parklands, such as King Edward’s and Nesca Parks, great playgrounds and some of the region’s top schools.
“Second that to are the short walks to get to Darby Street restaurants and boutiques, the city centre and everything Newcastle has to offer – I confidently recommend the Hill to as many families as I do young home buyers looking for longer-term investments.
“This boutique little borough is central to everything big about Newcastle, but residents claim to feel tucked away from the hustle at the same time,” he says.
The Hill’s median property price currently sits at $516,000 given the unique blend of units, townhouses, and estate homes, making this neighbourhood achievable for a diverse range of buyers.
THE HILL MARKET TRENDS
Median 12 month -12.36% -3.03%
Median 3 years -6.41% 12.94%
Median 5 years 45.62% 28%
10 years average annual 6.64% 6.32%
2291 THE JUNCTION
“Investors and residents love The Junction because they’re not giving up on any CBD luxuries with their city fringe location,” says Lucas.
Junction Fair, the area’s main retail precinct is home to a variety of boutiques, businesses, cafes, restaurants, and takeaways, as well as a supermarket close to the CBD. The area is well serviced by public transport and is home to two reputable primary schools.
“The Junction is only a short wander to the gorgeous stretch of beaches from Bar Beach to Merewether,” says Lucas.
“For those with a taste for some nightlife, some of Newcastle’s most iconic pubs are all a few blocks away. The Junction caters for everyone,” he says.
“The Junction has enjoyed a record increase in property prices over the last three to five years and there is no surprise in that, given the lifestyle features I’ve just described.”
“A median investment of $1.5 million will see you and your family or friends set up in a fabulous home. The big seller for The Junction is its landscape – the flat streets and central access means you can put the cars away on weekends, grab your bikes and roll across the neighbourhood.”
“It’s worth registering your interest with us as a buyer in this neighbourhood. Residents tend to buy and stick around longer than other suburbs throughout Newcastle,” Lucas says.
THE JUNCTION MARKET TRENDS
Median 12 month17.05% 39.33%
Median 3 years 64.58% N/A
Median 5 years 130.62% N/A
10 years average annual 11.43%15.64%
“Maryville has a perfect blend of dynamic industry and peace and quiet on the footsteps of the Newcastle CBD,” remarks Lucas.
“Maryville’s history was primarily in seafaring industries, manufacturing, and steelwork. Along came the Honeysuckle transformation which whipped Wickham and Maryville into a chic village-style precinct for city-dwellers.”
Honeysuckle, Wickham, Newcastle CBD and the Newcastle Transport Interchange are a stroll away and there is an ever-increasing pop-up of new enterprise across retail, the services sector, and light industrial businesses.
“I travel across town to join the thousands who flock to Maryville’s famous Baked Uprising Bakehouse every weekend. I know it’s worth the trip,” says Lucas.
Median house prices are still sitting comfortably under $800,000, making Maryville a worthwhile inspection for investors looking for …everything.
MARYVILLE MARKET TRENDS
Median 12 month2.74% 5.46%
Median 3 years 25.61% 35.42%
Median 5 years 66.67% 50.41%
10 Years average annual 9.47% 7.67%
“Carrington has a village charm like no other in the Newcastle city catchment,” says Lucas.
“Its popularity stems from in the unique ‘island’ locale – many residents claim to feel away from it all, yet Carrington is a stone’s throw from CBD living.”
Young Street forms the central hub of the neighbourhood with an array of unique businesses, restaurants and cafes, pubs and boutiques.
“Locals thrive on the lifestyle factor of ‘Carro’ with close proximately to the CBD, Honeysuckle and the harbour, all accessible by bike, walking or a short car trip.”
“Active sorts are also at home here, with the Newcastle’s most successful ParkRun operating on the shoreline of Throsby Creek every Saturday,” he says.
“Carrington’s population is small and community-focused. Get ready to invest your heart in the village as much as your dollars in real estate.”
The area saw a run-away growth period from 2012 with median house prices now resting at $610,000.
“These city villages - Wickham, Maryville, and Carrington are all going to remain valuable investment hotspots as Newcastle continues to grow.”
CARRINGTON MARKET TRENDS
Median 12 month 6.4% 27.66%
Median 3 years 44.57% 48.04%
Median 5 years 75% 84.03%
10 years average annual 9.86 7.19%
2305 NEW LAMBTON
“There is so much to love about New Lambton, and the secret is well and truly out,” says Lucas of this solid performing suburb full of peace, quiet and community spirit.
“2017 was a great year for the New Lambton area where values increased 15 percent. The market has been on a continual creep upwards since 2013 and it doesn’t look like changing any time soon,” says Lucas.
“People tend to buy in New Lambton and stay there. It’s a real neighbourhood vibe, which attracts like-minded buyers and continued investment performance,” suggests Lucas.
“What I love about New Lambton is the unique mix of outstanding homes in the five square kilometres of the suburb. You’ve got a beautiful range of absolute estate homes, to amazing period homes and then some urban builds that all sit well together.”
“New Lambton takes great pride in itself and this will continue to show through in property prices.”
NEW LAMBTON MARKET TRENDS
Median 12 month 4.29% 9.64%
Median 3 years 33.94% 13.18%
Median 5 years 56.32% 34.42%
10 years average annual 7.38% 5.95%
“Adamstown is an exciting borough with lots going on,” says Lucas.
“2018 saw its potential peak, with growth in value of more than 22 percent. That’s an incredible performance.”
“It was almost like Adamstown was this sleeper suburb. Brunker Road Village is nothing new, and many of the shops have been there for decades. It’s like 2018 was a real awakening to the potential of this village vibe and it just started pumping.”
Adamstown now enjoys sustained median house, unit and land prices of $715,000 and continual investment and redevelopment in the area is bringing plenty of opportunities to be part of the village.
“Adamstown village is just over the crest from major urban infrastructure, yet it feels set apart from the hustle. It’s a unique spot for Newcastle with direct links to the City, Kotara, Charlestown and a flat ride to beachside suburbs,” says Lucas.
“It’s the perfect settling spot for families, with quality services very close – great schools, daycare, and community services all nearby.”
“Adamstown is one to keep your eye on into 2020,” suggests Lucas.
ADAMSTOWN MARKET TRENDS
Median 12 months 1.34% 4%
Median 3 years 26.21% 30.41%
Median 5 years42.36% 64.09%
10 years average annual8.83% 7.51%
2303 HAMILTON SOUTH
Hamilton South is an incredible suburb, with a real mix of investor types. Lucas believes this is reflected in the overall growth performance of the area in recent years.
“Hamilton South has seen some of the strongest growth and the most significant dips in the market since 2013,” recalls Lucas.
“2016 set Hamilton South as a stalwart, blue-ribbon suburb for the Newcastle area when the market grew by more than 24 percent.”
“This growth can be attributed to its inner-city proximity, yet large, flat, “suburban”-sized blocks and distinguished federation architecture. These features appeal to families who are ready to branch out of the ‘young family’ home and into something more established with the bonus of inner-city living.”
Lucas believes Hamilton South will remain a strong performer given its proximity to family-centric infrastructure. Reputable schools are within zone, and neighbouring beach suburbs with a slightly pointier price tag make are easily accessible by foot, bike or bus.
“2020 is looking like another strong performance year for this suburb,” suggests Lucas.
“If you’re in the market for a truly unique and timeless property around the million-dollar mark, I reckon Hamilton South is worth your time and consideration.”
Median 12 month 8.03% N/A
Median 3 years 28.1% N/A
Median 5 years 58.24% N/A
10 years average annual 6.75% N/A