We’ve always said property stands the test of time, and even with all the challenges of the past year, property values have continued to go up.

A recent update from property data specialist CoreLogic has revealed over the past year the strongest regional markets have been in New South Wales (29.8%).

In the Newcastle area, Western Lake Macquarie properties saw a price rise increase of 32%, Eastern Lake Macquarie, 31.2% and Newcastle saw a 28% growth rate.

These sorts of growth percentages haven’t been seen since 1989!

The result is, $860,000 is now the new median price for a home in the Newcastle/Lake Macquarie area.

Of the 49 Newcastle area suburbs, 31 of these achieved a new record price last year. To give you some idea of property prices in the different suburbs, our January report highlights the record prices we’ve been achieving over the past few months.

For instance, in Cardiff, we recently sold a 2 bed, 1 bath, lock up garage house for $662,000, and in Speers Point, our team achieved a $1,000,000 price tag on a 3 bed, 1 bath with a lockup garage needing extensive renovation.

We pride ourselves on our powerful marketing strategies, and giving our customers maximum return on investment. Take a look at what our sales team has been achieving in other suburbs; download our January sales report here.

Looking ahead

None of us have a crystal ball, but we do believe property will continue to hold its own for a while yet.

There is still a lot of confidence in the market. The Real Estate Institute of Australia (REIA) points out the latest figures from the Australian Bureau of Statistics (ABS) show activity has increased across the board with growth in lending recorded for first home buyers, investors and owner occupiers.

The value of new loan commitments for housing rose 6.3% to $31.4 billion in November, and the value of new loan commitments for owner-occupier housing rebounded 7.6% in November.

With the Reserve Bank of Australia this week announcing it would keep the cash interest rate unchanged at 0.10%, there will continue to be great deals on finance options for those looking to buy.

So, if you’re thinking of selling, or would just like to know what your house could get in today’s market, contact us for a free, independent and non-obligatory quote. Our experienced team will also give you tips and ideas so you can get the best from your property.

Being one of Newcastle’s longest established real estate offices, our innovative team can give you great advice on what you can do to improve your property right now and we are constantly achieving great results for our clients. Plus, we have a database of potential buyers looking for many different types of properties, so we can get your property directly in front of people genuinely interested in your type of property.

We’d love to see you in our Cardiff office or you can give us a call on 02 4954 8833. Or send us an email to: mail@apnewcastle.com.au.

If you’re looking for more handy tips on selling your property, or what to look for when buying or selling a property check out our Facebook page.