The future looks bright for the Newcastle property market. With Newcastle’s median house price forecast set to increase by 9% to $635,000 by June 2020. (Compare with a 4% decline in Sydney). Source BIS Oxford Economics December 17 Update.
Positive Factors driving the market are;
* The ‘revitalisation’ of Newcastle, a NSW government program has had a positive impact
* New infrastructure has been built and is underway eg The Light Rail System and the Wickham Transport Interchange
* An environment attracting migration into the region – stimulating demand for new homes
* Prices under $750,000 enable more Newcastle buyers to benefit from the FHOG stamp duty exemptions
* Generally more affordable homes prices
Not to mention the great lifestyle. World class beaches with great surf, easy to access harbour foreshore, great bike tracks, excellent education facilities, Tafe, Newcastle Uni, affordable Private and Public Schools coupled with excellent employment opportunities.
If you need a place to eat and think about buying a property in Newcastle, head to Scratchleys on the Wharf, Neil will look after you.