Residential real estate agent reveals 2018 suburb predictions for Hunter
Hunter Valley real estate agent James Rodrick of the award-winning real estate group Starr Partners, has announced his top suburbs to watch in the upcoming year.
1. Raymond Terrace. Attractive to first home buyers, Raymond Terrace offers affordability and value with a median house price of $355,000 and 9.7% growth over the last 12 months. Close in proximity to the Nelson Bay area, only 35 minutes to Newcastle CBD and a short drive to Newcastle Airport, the suburb also benefits from being well-serviced by public transport as well as shopping centres, cafes and restaurants. In 2018, I think we’ll see a lot more buyers investing in the suburb, with the average price and strong rental yields of around 5.4% very appealing.
2. Maitland. The suburb of Maitland is often overlooked by buyers as many see it as being ungentrified, but it’s emerging as a trendy part of the region and had growth of 16% this year. We are seeing more cafes, restaurants and bars open, and the streets in and around the CBD are lined with character-filled terrace style homes that almost make it the Hunter region’s answer to Sydney’s Marrickville. Developers are seeing the potential in the area and there are a couple of apartment developments underway, as well as public and private sectors injecting significant investment with the revitalisation of The Levee and new Aldi store.
3. Bolwarra. Historically, Bolwarra has always been well regarded, but the larger block sizes are increasingly becoming more appealing from the younger generation of buyers who crave space. Changes to the catchment area of the popular Bolwarra Public School is really going to drive even further interest for this green and leafy suburb and see prices grow into the coming year and beyond.
4. Chisholm. The area has seen significant land releases over the last couple of years and I predict the area will continue to grow, particularly among families – the new school, medical facilities, childcare centres, recreational areas, shopping centres and proximity to Newcastle and Maitland enable an easy commute regardless of where people work.
5. Weston. Weston was on my list last year, but to me it’s still slightly undervalued with a median house price of $312,000. Being located close to the Hunter Expressway is a huge drawcard for the area as residents can easily travel to Newcastle, the Upper Hunter region, wineries and vineyards, and even Sydney. Weston is also going to be on the radar of those looking to invest in 2018 with rental yields of approximately 5.6%.