Which areas represent the best value for money in Newcastle's property market?
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Buyers agent Chad Dunn, of Mayfield Property Group, has detailed eight suburbs he believes are on an upwards trajectory heading into 2022.
TOP FIVE GROWTH AREAS IN 2022
1: STOCKTON
- Median house price $865k
"Stockton's had its controversy over the years, but the Sydney market's looking at that and saying there's really good value in Anna Bay and Stockton where you can get 300 metres to the beach for around $1.3 million. It isn't Merewether ... but people from outside the area are saying we see those two suburbs as something completely different to what the local market is viewing them as."
2: WARATAH
- Median house price $710k
"It's a fringe city suburb, you've got the train line, three to four really good schools in the area and the hospital. People are buying blocks for $750,000 to $800,000, bulldozing the house and spending up to a million to build something. I'm not seeing that as much in any other suburb apart from New Lambton. I think Waratah's starting to become a hidden gem."
3: BROADMEADOW
- Median house price $737k
"Investors need to read up on what's planned for Broadmeadow over the next five years. You've got new sporting facilities ... there's a lot happening. Investors should keep that one on their radar."
4: BLACKSMITHS
- Median house price $800k
"If you want to be located further south in the Lake Macquarie region you're looking at $1.8 million in Catherine Hill Bay now as an average for a three-year-old house close to the beach in the new Beaches estate. In Blacksmiths, most of the streets within 500 metres to the beach you're still looking at under $1.5 million. We look at that as locals and say 'that's a lot of money' - that same sort of property 300 metres to the beach even on the Central Coast you're looking at $2.5 million now with no view."
5: MEDOWIE
- Median house price $630k
"Medowie to me is going to be the Matcham of the Newcastle-Port Stephens region. With the infrastructure that's gone in - it's got a golf course, proximity to the airport and it's also close to the freeway - over-60s that are looking for the tree change, they definitely have Medowie on their radar. I would urge anyone looking for an acreage just to have a drive through Medowie to see how much the area's changed."
TOP THREE 'UNDERVALUED'
1: BIRMINGHAM GARDENS
- Median house price $546k
"For a lot of buyers that have between $700,000 and $900,000 I think Birmingham Gardens is still really good value for the size of the block, the kind of home you're getting and that area really booms when the student accommodation area is doing well. Because student accommodation at the moment is so down - they'll probably start coming back in January - I think there's a really good window of opportunity in the next three months. For families that want a good size family home, all they need to do is look at something that's traditionally student accommodation and convert it back to a normal home."
2: ANNA BAY
- Median house price $691k
"Anna Bay traditionally isn't really seen by the locals as somewhere they could experience that good a growth, but the Sydney market looking for weekenders, they quite like the Barubi Beach, the cafe there and its proximity next to the bay."
3: CARDIFF
- Median house price $603k
"Cardiff has good sized homes; older, but they're good blocks. I think it's been slightly overlooked by probably the more expensive suburbs, New Lambton Heights, Garden Suburb and so on. They're starting to reach some good prices there, but that's a pocket buyers should consider, especially first home buyers that are being priced out of other suburbs."
- Median house prices as of July 2021, CoreLogic data.
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