Why you should invest in Newcastle – part 2
Located 160km north of Sydney’s CBD, the harbour city of Newcastle has so far escaped the astronomical prices that Sydney’s real estate market has become famous for.
However, with $6.5 billion in NSW Government funding set to reinvent this once industrial port city, Newcastle is on the verge of significant property price growth.
In this three-part series, we explore the reasons Newcastle is becoming the next investment hotspot – and why you should keep this city firmly on your radar.
Missed Part 1? Read it here: World class infrastructure: the future looks bright for Newcastle
Part 2: Lifestyle and location: life’s a beach in Newcastle
Lonely Planet has listed Newcastle in its Top 10 cities, describing it as underrated with Sydney-like assets. And in 2016, Newcastle took out the no. 2 position in ‘Australia’s Top 10 Destinations to Experience’ by travel company Experience Oz. So what’s driving the popularity of Newcastle as a place to visit?
Central and scenic
Only a 40-minute drive from the wineries of the Hunter Valley and the natural beauty of Port Stephens and Lake Macquarie, Newcastle boasts an idyllic location on the central NSW coast. And with its own postcard-perfect beaches, the city continues to attract visitors in droves.
Thankfully, the NSW Government is doing everything it can to enhance and preserve this for future generations. In addition to a $650 million Revitalising Newcastle program, which will improve transport and public spaces in the CBD, the Bathers Way project is constructing a 6km walkway between Merewether Ocean Baths and Nobbys Beach. Once complete, visitors will be able to easily enjoy the spectacular views of Newcastle’s coastline.
And due to the growing popularity of cruising, a new $13 million multi-purpose cruise ship terminal facility will be completed in Carrington by the end of 2018 – bringing in even more tourists to the area.
A blend of old and new
In addition to carefully maintained historic buildings such as Customs House, Civic Theatre and Fort Scratchley, Newcastle is also home to striking contemporary architecture like the $90 million Newcastle Courthouse development and NeW Space, a $95 million city campus for the University of Newcastle that prides itself on its innovative approach to education.
The $17.8 million Hunter Innovation Project, due for completion in 2019, will see the installation of free Wi-Fi and smart technology throughout the CBD, along with an Innovation Hub that aims to attract and retain entrepreneurial talent, and nurture businesses in new and emerging industries.
Preserving the city’s heritage, while embracing its desire to be a centre of innovation, will ensure that Newcastle maintains a unique cultural identity that will please Novocastrians and visitors alike.
Flourishing food scene
Over the last few years, Newcastle has begun to be recognised nationally for its contemporary approach to quality casual and fine dining. The café scene is buzzing, and restaurants such as Reserve, Rustica, Subo and Chef Hatted Restaurant Mason have made a name for themselves on the Australian food stage.
Craft breweries and Melbourne-inspired small bars are growing in numbers, particularly along vibrant Darby Street in Cooks Hill and Beaumont Street in Hamilton.
Honeysuckle, a major harbour renewal project, is now home to numerous waterfront restaurants, cafes and bars like Silo, which prides itself on its use of fresh Hunter produce, and Nagisa, a modern Japanese restaurant with an extensive Japanese craft beer and sake menu. And beach lovers’ favorite, Merewether Surfhouse, boasts a casual elegance with spectacular ocean views.
What does this mean for you?
With significant investment in urban renewal and innovation, a growing hospitality and tourism industry, and an enviable location and lifestyle, Newcastle represents a truly exciting investment opportunity. But the time to get in is now, before the completion of major infrastructure programs drives property prices further.
Want to know more?
We have a number of exciting investment opportunities coming up in Newcastle soon. Please contact us today to find out how we can help you build wealth through smart property investment.
