1/10 New York Avenue, Warners Bay
A lovely young guy who has recently moved to Newcastle was flatting with a friend and looking for his first home. He was expecting to buy a unit in a secondary location. We saw this property before market and ear marked it immediately for one of our clients. He ended up with this fabulous three bedroom, Torrens title duplex in a great location. He couldn’t be happier.
Warners Bay is a suburb of the City of Lake Macquarie and is located 15 kilometres from Newcastle’s CBD, on the shores of Lake Macquarie.
Warners Bay is the second-largest population centre in Lake Macquarie and is a hub for shopping, eating out and leisure pursuits with an ice skating rink, bowling alley and numerous sporting facilities. It also has excellent schools.
The size of Warners Bay is approximately 5.9 square kilometres. It has 14 parks covering nearly 4.3% of total area. The population of Warners Bay in 2011 was 7,455 people. By 2016 the population was 7,611 showing a population growth of 2.1% in the area during that time. The predominant age group in Warners Bay is 40-49 years. Households in Warners Bay are primarily childless couples and are likely to be repaying $1800 – $2399 per month on mortgage repayments. In general, people in Warners Bay work in a professional occupation. In 2011, 72.7% of the homes in Warners Bay were owner-occupied compared with 73.4% in 2016. Presently it is 76%.
Based on five years of sales, Warners Bay has seen a compound growth rate of 25.4%
Currently the median sales price of houses in the area is $930,000.
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