Some of the nation’s leading real estate industry experts have predicted their top suburbs for 2024.
Approximately 40% of these are in regional locations, and generally these experts are predicting demand to be stronger in more affordable capital cities and the bustling regions, like Newcastle.
In the greater Newcastle region, 4 suburbs that made the top 20 suburbs in NSW are listed below.
Nominated for “family appeal, location and gentrification”, Hamilton remains an ever popular and very central suburb and is very close to the CBD and beaches. Hamilton is home to amazing cafes, shops and parks, and has some very nice character homes. It had a median sale price of $905k based on 44 house sales over the past 12 months.
For those of you who are on a lower budget, Maitland is a solid option to consider – whether you are an owner occupier or investor. Maitland was also the 5th top Local Government Area (LGA) in Australia for inter-region migration, in CBA’s recent Regional Movers Index report (read more about this here).
Nominated for “location and population growth”, Maitland is “a city on the rise” and has a population of over 90,000! Maitland is only 40 minutes drive to Newcastle, 2 hours to Sydney and on the doorstep of the Hunter Valley wine industry. It is also very affordable with a median sale price of only $585k based on 44 house sales over the past 12 months. If you are interested in Maitland, do your due diligence as it is a reasonable sized city with many suburbs to choose from.
Nominated for “gentrification, affordability and location”, Mayfield is only 10 minutes drive from the Newcastle CBD and offers an up and coming area with a cheaper price point. Mayfield had a median sale price of $810k based on 23 house sales over the past 12 months.
If you are an owner occupier looking to get as close to the revitalised Newcastle CBD as possible, Mayfield is definitely worth a look!
Nominated for “location and amenity”, New Lambton is a premier and very popular, central suburb in Newcastle. Surrounded by quality shops, pubs, clubs and schools, and only minutes to the John Hunter Hospital, New Lambton is home to some exceptional properties and had a median sale price of $1.02M based on 133 house sales over the past 12 months. New Lambton is also on the doorstep of Newcastle’s main sporting and entertainment facilities.
Read more here… https://www.realestate.com.au/news/hot-100-suburbs-to-watch-in-2024/.