Hunter Region is a Region of New South Wales, Australia. Situated at the northern end of the Sydney Basin bioregion, the Hunter Region is one of the largest river Regions on the NSW coast, and is most commonly known for its wineries and coal industry. Let’s move on from Hunter Region’s geography and talk about real estate facts and numbers!
As per CoreLogic, the strongest growth trends remain skewed towards the coastal and lifestyle markets with NSW’s Hunter Region recording a quarterly growth rate of 8.9%.
In quarter 2 of 2021, Hunter Region recorded a median house price of $597K, and a median unit price of $430K. This represents annual median price growth (that is Q2 2020 to Q2 2021) of 27.1% for houses and 32.3% for units. Between Q2 2020 and Q2 2021 total sales in both markets increased a whopping 61.5% for houses (to 273 sales) and by 18.5% for units (to 32 sales).
In June 2021, house rental yields in the Hunter Region were recorded at 3.8%. In the 12 months to Q2 2021, the median house rental price increased to reach $480 per week, this indicates that the Hunter Region has remained a strong rental market throughout COVID-19.
Also, in June 2021, the Hunter Region recorded a vacancy rate of 0.7%. Current vacancy rates in the Hunter Region are among the lowest in the past three years and have remained well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even with COVID-19. There is strong rental demand, thus investors can be confident of a conducive investment environment.
If the above data isn’t enough to convince you that Hunter Region is coming up as a potential regional investment hotspot, then down below are supplementary reasons as to why it is the perfect place to invest in!
- Contribution to Economy – The Hunter Region contributes over $34.7 Bn to the NSW economy, making it the largest economy in regional NSW. Just a two-hour drive north of Sydney, the region’s lush vineyards, wildlife reserves and world-class restaurants help to attract more than 2 million visitors every single year. The Hunter Region’s sustained economic growth is predicted to rise by nearly 75% by 2036.
- Industrial Diversity – Exciting upcoming projects will add to diverse industries, including leading educational and medical facilities. Combined with housing affordability, the Hunter Region is alive with opportunities for investors.
- Employment Opportunities – Currently, ~ 322K jobs stretch across industries like advanced manufacturing, aerospace, defence, tourism, mining, agribusiness and a start-up sector supported by the NSW government. With new infrastructure and developmental projects, jobs are predicted to increase to 384K by 2036.
- Infrastructure and Development –
With development increases and more employment opportunities, migration will be encouraged and investors will see furthermore potential in returns as well as price growth in the upcoming years. Let us walk you through, and give you a brief overview of the major infrastructural projects of Hunter Region!
– Hunter Expressway – $1.6 Bn has been committed to the new, four-lane Hunter Expressway to improve traffic flow along the New England Highway.
– Mining Projects – The mining industry is expanding with a $951 Mn extension project at Mount Pleasant and $509 Mn approved for a coal mine in Muswellbrook.
– Education – Further enhancing premier education facilities, $135 Mn has been committed to the University of Newcastle’s STEM building.
- The Hunter Region is home to 740K Australians, and there are predictions of significant increase in this figure. The NSW government predicts growth in the key areas of Newcastle, Cessnock, Maitland and Lake Macquarie by 100K people, from 2016 to 2041. To support this population growth, around 40K new dwellings need to be built.
- Bustling and Lively Neighbourhood – In terms of arts, culture, food and shopping, the region’s wineries count among a diverse range of recreational options. Historic Maitland is a hub of art galleries and Newcastle brims with boutique bars and performing arts venues.
Now that you know all the major reasons why you should invest in the Hunter Region, connect with our property consultants and get all the help and advice you need while planning your next investment in the Hunter Region! Get with us at at 02-81230180 or dropping us an email at email@example.com
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