There is no denying that Newcastle is a city on this rise. Impacts of COVID-19 paired with advances in technology have changed the way people live and work, with a clear result showing people can easily work remotely. This has caused a shift in investment trends with dozens of regional areas benefiting as a result.
Residents and investors are now seeking alternate locations to live and/or invest as major cities become less and less affordable. In comparison, Newcastle offers affordable property prices making it an attractive alternative to buying in Sydney with very similar profits to be made by investors and developers.
With only a 2-hour drive from Sydney, a growing population and major city development, it is easy to see how Newcastle is a highly sought-after city for investors. In comparison to larger metropolitan markets, it offers lower land values and higher yields for both domestic and international investors. Sydney and Melbourne rental yields can sit between 3%-4% whereas Newcastle is seeing a great yields between 5% – 6.5%.
Newcastle also offers newcomers and investors an enticing lifestyle change, providing convenience of big-city living without the hectic pace or traffic. It hosts some of the best beaches, lakes and parks in the Australia as well as providing a lower cost of living. Paired with large development projects in the Newcastle CBD, there will be no shortage of great places to eat, drink, shop and overall enjoy.