Port Stephens council has provided approval for an $80 million upgrade and expansion to Newcastle Airport.
According to Newcastle Airport...When completed, Newcastle Airport will have capacity to increase domestic passenger flow from the current 1.2 million to a potential five million annually, as well as provide infrastructure to allow for international flights.
The redevelopment will provide the infrastructure needed for Newcastle Airport to be a global transport hub and significant alternate gateway into New South Wales.
For investors this will provide many great opportunities for growth. There will be workers coming in from outside the area for the term of their involvement and they will want to be close to their employment, so they will be looking for accommodation in the Port Stephens area. This will mean that demand for rentals will rise and the rents themselves will go up. Driving an increase in the investment return.
You also have one of the most picturesque areas in Australia around the Bay area so many of the permanent employees will be looking for nice homes in good locations to take advantage of the growth potential in the vicinity.
With this growth and demand you could see a boom in land and house prices within a
5 kilometre radius of the airport.
This is another area within the Newcastle and Hunter region that is showing great potential for employment, tourism and investment growth over the coming years.