In a year where interest rates dropped and stayed low at record levels, there was plenty of talk about property and the construction industry on both a state and national level. Here is a quick summary of the results we witnessed in the Newcastle and Hunter regions.
Cameron Park - this suburb continued to soar in popularity for both First Home Owners and Investors. With each new release we saw a flurry of enquiries from people wanting to grab their piece of Cameron Park and there is still so much more to go. The price was a big drawcard for this area and on a few occasions we were able to package up house and land for under $400,000...a very rare and fortunate package for those lucky buyers!
Buttaba - on the other side of the Lake this suburb increased in popularity amongst those looking to downsize. Close to the freeway and Morisset train station, this suburb provides a peaceful setting for those wanting to find those unique blocks scattered amongst the established suburb.
Fletcher - another popular suburb for First Home Owners and Investors. Popularity certainly helped drive prices up. This suburb is perfectly positioned for those wanting to be close to Newcastle, the University and Hospital.
The magic question that everyone wants to ask...where will the hot spots be in 2014?
We believe the Western side of the Lake will grow in popularity. Places like Cooranbong, Morisset, Buttaba and surrounds. The lifestyle is enticing and it is close to the freeway to Sydney. Those that are priced out of the market in Sydney may in fact start to see these areas as ideal locations to buy their piece of land and build their dream home in an affordable setting. We can still find plenty of great blocks of land in these locations, plenty of opportunities available for First Home Owners and Investors.
Where did you see the growth in Newcastle and the Hunter in 2013? What picks do you have for property in 2014? We would love you to share your thoughts and experiences.