No matter how strong the real estate market is going, we will always see doom and gloom in the media. Sydney’s market has slowed, but the reality is, two hours up the road, in our area the housing market is still going ahead in leaps and bounds.
Our area is great; it offers a diverse range of job opportunities, a rejuvenated and energised city, an upsized university, pristine beaches, beautiful countryside, the list goes on. Lifestyle choice is just one of the many reasons why more people are moving here – hence why we are seeing a very busy property market with figures that just keep going up.
If you’re thinking of selling, now might just be the time. Check out these figures from RP Data, the premium property data analysis in Australia. Unless stated otherwise, the figures are for house sales and all figures are taken from the previous 12 months as of July.
City and suburban living
Some of Newcastle’s suburbs have seen some great rises in the last period – Mayfield rose by 16.5% and Adamstown saw a whopping rise of 22%. Furthermore, while Newcastle house prices grew by 14.8%, with all the new construction currently taking place in the revitalised CBD, it actually saw a massive 22% rise in unit sale prices.
Over the past few years, property prices in Newcastle has seen some modest and large growths:
- 2017 12.7%
- 2016 6.2%
- 2015 6.6%
- 2014 7.1%
- 2013 9%
Lake Macquarie and beyond
While not seeing the massive rises as their city counterparts, suburbs in the Lake Macquarie area are also on the rise. Cardiff prices rose by 7.1%, Cardiff South 12.1%, Charlestown 10.7% and Kahibah 14.5%.
Over the past few years, property prices in Lake Macquarie is gently increasing:
- 2017 9.7%
- 2016 7.3%
- 2015 7.4%
- 2014 7%
- 2013 4.4%
Of course, not all suburbs show fantastic growth, but we believe the suburbs which show slow growth are partly down due to the lack of property being available to purchase.
Selling your property is a big decision and unless you’re in a position where you have to sell immediately, it’s good to do a bit of research. This is why we will be releasing our very detailed 2017 Market Review in January, so contact the office to request a copy.
You may also be interested to learn, January and February have been the bestselling months for the last five years. If you are considering selling, now might be a great time to act!
We have a very extensive list of financed approved buyers looking to purchase in all markets across Newcastle and with our extensive A-Z Marketing Plan we always achieve an outstanding outcome for our clients.
Drop into the Cardiff office or give us a call on 02 4954 8833. Or send us an email to: email@example.com – we’d love to hear from you.