See Change in Newcastle
When ‘Brand Newcastle’ was launched a few years back there was a bumper sticker getting around: NEWCASTLE, SEE CHANGE. With the recent development boom in the CBD, Newcastle has transformed from steel city to cosmopolitan heart of the Hunter. All eyes are on Newcastle with investment pouring in from both public and private sources. If ever there was a time to make a sea change to Newcastle it’s now, which is why it’s also one of the best locations to invest and build in regional NSW.
Why Newy?
Newcastle is the coastal gem that has it all: long sandy beaches, great surf, a world-class university, thriving music and arts scene, and facilities for every sports passion. The weekly Farmer’s Markets, diverse eateries, coffee, breweries and distilleries make it a ‘foodie heaven’. It’s only two hours by car to Sydney and in under an hour the Hunter Expressway has you in Hunter Valley wineries and stunning countryside. Newcastle offers a relaxed way of life with something for everyone making it a great place to consider a property investment.
Green lights for construction in Newcastle
Investors and developers keen to build a multi-unit development in Newcastle will be encouraged to know that Newcastle recorded the third highest number of building approvals for new dwellings in NSW this financial year. Council’s Accelerated Development Application pathway fast tracked more than 20 per cent of the city’s $1.5 billion development pipeline, determining the applications in less than 10 days, during the 2022/23 financial year.
The latest forecasts show the Newcastle local government area population set to increase by 41,150 residents to 202,050 by 2041, stimulating the demand for almost 20,000 new dwellings. City of Newcastle’s Planning and Environment Executive Director Michelle Bisson said CN is on track to meet its new housing targets.
“CN has also been planning for future growth and higher densities to facilitate housing opportunities for our community through our work on the renewal corridors, Wickham Masterplan and currently through our collaboration with the Department of Planning on the Broadmeadow Place Strategy.”
Coastal and city highlights
From its coastline to its vibrant inner city suburbs, Newcastle has a wealth of selling points to ensure great rental returns or a sure sale on any property investment.
The 6km long Bathers’ Way is a spectacular coastal walk. Beginning at Nobby’s Beach, it takes in the iconic Newcastle Ocean Baths, offers stunning views of both the beaches and the harbour from the Anzac Memorial Walk, then finishes at the Merewether Ocean Baths.
Newcastle East is nestled behind Newcastle beach and includes streets lined with beautiful Victorian terraced houses. Heritage buildings house boutique shops, cafes and eateries as well as galleries, including The Lock Up, a former Police Station and gaol.
The leafy suburb of Cook’s Hill is most famous for Darby St’s independent retailers and gastronomic delights. It’s also home to Newcastle Art Gallery, currently undergoing a major expansion project which will enhance Newcastle’s reputation as a cultural tourism destination.
Opposite the gallery, beautiful Civic Park hosts the monthly Olive Tree Markets. Within this cosy precinct the magnificent Civic Theatre and the grand sandstone City Hall offer culture and entertainment. Across Hunter St lies the Newcastle Museum and Honeysuckle Foreshore where cosmopolitan bars and restaurants overlook the harbour.
Beyond Newcastle West
Newcastle Interchange, a new multi-modal transport interchange at Wickham in the city’s west is central to the Wickham Masterplan. Council’s vision is for the light rail to be extended from here out to Broadmeadow which will become a new sports and entertainment precinct. This is a suburb about to undergo massive transformation and definitely worth investigating for a multi unit property development.
Popular inner city suburbs
Beyond the centre of Newcastle, there’s a lot of potential for property investment, particularly mixed styles of property development, especially around renewal corridors, including Hamilton. Offering a feast of multicultural culinary delights, Hamilton’s Beaumont St runs through the length of this well-established suburb. Where Beaumont St ends, the cool bohemian vibe of Islington begins. Its second hand shops and boutiques are great for fossicking, and Slingtown is the place to recharge and enjoy excellent coffee.
The Throsby basin includes the gentrified suburbs of Tighes Hill, Maryville and Islington. These inner suburbs are ideal for commuting into the CBD either by bus or on the cycle path which runs along the Throsby Creek to the Hunter River. With a demand for medium density housing, this area is worth investigating for those wanting to build a multi-unit development in Newcastle.
Another outlier worth considering is Carrington – home to the Newcastle Rowing Club, Earp’s gin distillery, plus great pubs and eateries including the much loved Carro Bowlo. Carrington has become a popular place to call home for young professionals, city families and retirees alike with a strong rental and owner/occupier market.
Your property development in Newcastle
As transformation continues in Newcastle there is a growing demand for multi unit projects. If you’re keen to find a builder in Newcastle look no further than Valley Homes. With over 50 years experience in the construction industry and a familiarity with the requirements of local council, Valley Homes is the Newcastle builder you can trust to ensure your property development goes to plan. Call us today.
