It’s been all over the news and everyone has been talking about it. The property market in Sydney right now is at an all time high with many potential buyers being pushed out of the market due to the prices.
The question is have you considered buying property in Newcastle as opposed to Sydney?
Newcastle is located 2 hours north of Sydney and with its beautiful beaches, new infrastructure, ever expanding café and restaurant scene there is little wonder why this city was named by Lonely Planet as one of the top 10 places to live in the world. With the completion of the Hunter Expressway the Hunter Valley vineyards famous for it Shiraz and Semillon are now only 40 minutes away from the centre of Newcastle.
Newcastle has so much to offer right now with such an exciting future ahead of it with planned developments and new infrastructure breaking ground daily. Including the new Newcastle University campus and new Courthouse both on Hunter Street. There is also over $340m going towards revitalisation of the Newcastle City Centre. Another $80m has been invested into the expansion of Newcastle Airport, which is now operational with international flights soon to be commencing.
If the idea of purchasing in another city is a daunting task, there are fully independent professionals available to help any potential buyer secure property. These professionals are known as buyer’s agents. One such buyer’s agency is Property Solutions 101 in Newcastle. Director Kylie Fearson said “we are seeing a lot more enquires coming in for the Sydney area, with buyers now noticing what Newcastle has to offer. We are seeing greater returns for investors and more affordable options for family buyers as well.”
Looking at recent sales history from both cities there is quite a difference, not only in price but also travel times from suburbs into the city centre.
8/480 King Street Newtown NSW 2042
2 bedroom apartment. 1 bathroom. 1 car space. Sold for $765,000 on 31st July 2015.
Two bedroom apartment with balcony, targeted to the first homebuyer or property investor, with super close proximity to the centre of Newtown’s vibrant culture. It is situated right on a main street in Newtown, with the local café and culture scene is seconds away. It is around 20 mins to the city, on a good day’s with notorious Sydney traffic.
Newcastle East (Newcastle)
E201/1 Moroney Avenue Newcastle East NSW 2300
2 bedrooms. 2 bathrooms. 2 car spaces. Sold for $625,000 on 30th July 2015.
Estimated Rental Return: Around $520 a week.
Features two large bedrooms with built-ins, master bedroom has its own ensuite and private access to balcony. The apartment has a north-facing balcony with views across Newcastle’s iconic Fort Scratchley, Newcastle Beach and the beautiful Harbour. This is a top floor apartment with parking available for two cars.
Newcastle East is so close to the main city area, and its new nightspots/café and business centre. It features the recently redeveloped Bathers Way, Newcastle Ocean Baths and beach, Nobby’s Beach and the Harbour with numerous bars and restaurants. It is only 5 mins to the city and a 2 minute walk to the beach. Its easy to see why Newcastle East is a popular and yet historic suburb.
Price Difference: Saving of $140,000
Ryde NSW 2112 (Sydney)
6 Woodbine Crescent Ryde NSW 2112
4 bedrooms. 2 bathrooms. 1 car space. Sold for $1,527,500 on 9th May 2015.
This lovely property situated on a sprawling 721sqm block, this stunning family home boasts a blend of period details and contemporary style and completely renovated throughout. Ideally set in a highly sought-after street it provides convenient access to many popular amenities including close distance to Ryde Public School and Epping Boys High School.
This property is an estimated 30 mins from the city.
49 Tirriki Street Charlestown NSW 2290
4 bedrooms. 2 bathrooms. 1 car space. Sold for $643,500 on 18th August 2015.
Recently completely renovated property with modern features and finished, which also includes a downstairs parent retreat. This property is beautifully packaged in a natural bushland setting complete with ocean glimpses. This property is located close to Charlestown Square, a large shopping centre with all major department stores, plus close to local schools.
It’s an 8 min drive to Redhead Beach and Dudley Beach. Charlestown is only 17 mins from the Newcastle city, but its also only 10mins to the stunning Lake Macquarie. Charlestown is the perfect location for those who enjoy the city life, but also want relaxed living with beaches close by and access to boating opportunities in Lake Macquarie.
PRICE DIFFERENCE: Saving of $884,500
39 Watson Street Bondi NSW 2026.
3 bedrooms. 1 bathroom. 1 car space. Sold for $2,055,000 on 14th August 2015.
Beautifully renovated home just minutes walk to Bondi & Tamarama beaches. With a strong focus on indoor/outdoor entertaining with lots of natural light. Three bedrooms all with built-ins and newly renovated kitchen. It’s a stunning property in a beautiful but extremely sought after location.
The city is approximately 23mins drive from this property.
46 Caldwell Street Merewether NSW 2291.
3 bedrooms. 2 bathrooms. 2 car spaces. Sold for $1,360,000 on 18th July 2015.
Beautifully renovated family home on large 692sqm block. This property has a clever open plan design with a separate lounge area. Features large spacious bedrooms and two with built-ins and a huge outdoor all-weather entertaining space. Also includes portico which can cover up to 3 additional cars. It’s an easy walk to local Merewether shopping strip, the Junction Village and Merewether beach.
With 5 popular schools close by and is only 9 mins drive from the city.
Merewether is one of Newcastle most popular suburbs. This beachside suburb is relaxed, and yet in some sought after streets, this can be quite an exclusive area.
The cosmopolitan lifestyle with close proximity to the city, popular cafés, bar culture with the new development Merewether Surf House just minutes away. You can quite easily walk to the beach for a seaside coffee.
(This property was secured at auction by the team at Property Solutions 101.)
Price Difference: Saving of $695,000
As you can see from the above properties there is quite a difference in price between the two locations. Whether you are looking as a first home buyer, investor, downsizing, upsizing – Newcastle can offer you the opportunity to secure your own home.
If you are still nervous about purchasing in a location you do not know very well, this is exactly where a buyer’s agent can give you a distinct advantage.
The team at Property Solutions 101 have a combined 40 years experience in real estate and are all property owners, developers and investors in their own rights. By having a professional with years of experience representing you during what will most likely be the biggest financial investment is a huge a relief, especially for buyer’s unsure and a little nervous about the property market.
There are many benefits to hiring a buyer’s agent. Someone who views up to 30 properties a week, has a huge amount of local knowledge, knows where the flood zones are, finds and recommends up and coming suburb ‘hot spots’, keeps their cool at auctions, saves you from paying extra on an emotional impulse buy. Plus buyer’s agents also help organise the pest and building report, liaise with conveyancers, mortgage brokers or banks to make sure everything is in line ready for settlement.
Buyer’s agents are here to provide you, the buyer, with a fair representation during the property transaction and settlement. They discover your essential criteria and then go out and find you the perfect property and they use their sharp negotiation skills to secure that property at a fair price. You can sit comfortably from afar knowing you have the best team on hand and an advantage when it comes to viewing and purchasing property.
If you think you would benefit by having Newcastle’s premier Buyer’s Agents represent you during your property search. Get in touch with Property Solutions 101 phone 0421 646 108.
(all images via realestate.com.au)
Kylie Frearson Linkedin: https://au.linkedin.com/in/kyliefrearson
Dale Slater Linkedin: https://au.linkedin.com/in/daleslater