We looked back over the last 12 months to find our top three Newcastle and Lake Macquarie suburbs to keep an eye on for great value property!
But here’s the catch: Newcastle doesn’t have enough available properties to accommodate for this boom. That’s why Newcastle’s median property price rose by 7.4% in the last three months to $690,000.
We don’t want to see local buyers miss out in the property stakes. We looked back over the last 12 months to find our top three Newcastle and Lake Macquarie suburbs to keep an eye on for great value property!
Median house price: $535,000
Population: 12,888
Distance from CBD: 11km
This western suburb is teeming with history and character. The coal mining town was named after an English town in Durham (just south of Newcastle, UK). When Newcastle’s coal mining industry boomed in the 1880s, so did the population of Wallsend and it’s been on an upward trajectory ever since.
Today Wallsend has a bustling commercial centre and is the home to many small businesses, sporting facilities and parks.
There are still period-style homes sitting on large blocks of land with big backyards available, as well as newer townhouses and almost everything in between. Wallsend also provides residents with multiple schooling options, making it a popular suburb for young and established families. It’s a five-minute drive to The University of Newcastle’s Callaghan Campus and conveniently close to the freeway to Sydney.
Median house price: $562,000
Population: 5,778
Distance from CBD: 12km
Cardiff is another historic suburb of the region. It was named after the capital city of Wales as an ode to its prominent Welsh population in the mid 1800s.
As properties closer to the CBD are snapped up, locals are moving closer to the Lake Macquarie suburbs, like Cardiff, Charlestown and Warners Bay. This gentrification has resulted in Cardiff’s median house price rising by 20% in 12 months.
Its thriving commercial centre and industrial areas service the workers of nearby mines, meaning Cardiff is one of the highest employing areas in the region. It’s also close to great schools and sporting facilities as well as a short drive to major shopping centres in Charlestown and Kotara.
According to Realestate.com, Cardiff is popular amongst older, established and maturing couples and families as it provides a slower pace and relaxed lifestyle compared to the suburbs closer to the CBD. Cardiff’s major train station also keeps its residents well connected to Newcastle, the Central Coast and Sydney.
Median house price: $733,000
Population: 5,070
Distance from CBD: 8km
Let’s start with a fun fact about Lambton: it was the first suburb in Newcastle to have electric lights installed in 1879!
Its clear historic roots are shown in the large property sizes like Wallsend, while dwellings range from cottages, federation homes, renovated houses and modern builds.
Lambton is close to The University of Newcastle and hosts great community, sporting and activity centres like the Lambton Swimming Pool and numerous dog parks. Residents also have a great choice of primary and high schools, and a shopping precinct that supports of many local businesses. Centrally located in the heart of Newcastle, the great cafes and small boutiques make this a terrific place to call home.
This city is constantly changing for the better. It’s exciting to see new hubs pop up around town, giving Novocastrians a growing list of things to do and experience. Settling in this seaside city is still a smart lifestyle choice.
If you’re a local or looking to relocate to Newcastle and have questions about the current property market, call us on 4910 0522 or email fiona@imperoconveyancing.com.au.