I have just returned from Newcastle where my wife and I are purchasing a 2 bedroom inner-city apartment off the plan. We had considered all sorts of areas around Australia, New Zealand and the UK for this IP, but settled on Newcastle due to its burgeoning growth.
We all know that it’s becoming harder to find anything reasonably priced in Sydney, but the Central Coast and Newcastle are fast becoming realistically commutable or home-working options for Sydney, notwithstanding the job market picking up significantly there in recent years. Add to that the large number of international students attracted to the beaches and well-regarded university, plus the ongoing development of several ‘trendy’ cafe strips and we’re satisfied it’s the place to be. It doesn’t yet have the chronic oversupply of CBD units that Sydney, Brisbane and Melbourne (not to mention London) has and there are some good well-priced options on the market off the plan. Our unit has already been valued at 10% over the contract price and it’s not even finished yet.
I’d be happy to recommend agents in the area if you’re interested.