Does anyone know how suburbs down the lake performed over the last 12 months? Speers Point, Warners Bay, Eleebana, Croudace Bay, Valentine. I don’t know where to find the data.
I’d guess pretty well. Doesn’t look like there’s a lot of stock on the market atm. 3 weeks before Christmas a friend in Eleebana asked if I could attend his open house to see how things were going. He told me the agent said he had an enquiry from a couple from Sydney who were keen to drive up for the open. This couple were leaving as we arrived and I heard them say to the agent they were tired of looking in Sydney and being trumped by offers well above above the million asking price. S9me cases 4 to 500k above. They ended up buying the house above the asking price. Following this thread as Im trying to get my wife to sell...
I’m also curious to know the rental demand down there. Is majority the retirees? Any experts? @tomlemke? Thanks guys.
Hi @Zeehan, attached is the last 12months of data, well above the average across Newcastle of 10% growth. @Bluechips The vacancy rate is well below 1% so I wouldn’t have any concerns about finding tenants.
No expert but did live in Warners Bay for a few years until recently, initially renting then purchased PPOR there. In our short time there have seen change of demographic from retirees and older owner occupiers to younger families buying into the area. About to rent out what was our PPOR and by all accounts it will go very quickly.
