I’ve been saying it for six months now – and more and more experts are recognising growth hotspots in the Hunter Valley in NSW.
Portfolios has investment properties for sale in the Hunter Valley, and given the increased press on this area we think now is a good time to invest in this burgeoning region.
And here’s why…
In a recent article by “Your Investment Property Australia” the NSW feature in the journal had a glowing report on the current and future prospect for the Hunter Valley.
Australian Property Monitor’s Andrew Wilson says the Hunter Valley is one regional centre that is already charging ahead because of a sustained growth in demand for property due to the influx of workers in support of the booming coal mining industry.
In fact many areas of the Hunter have far outpaced Sydney over the past year, with a healthy proportion posting double-digit growth especially in the Upper Hunter where much of the new mining activity is located.
And we have also discussed in the past the hotspots within the Hunter, and the flow on effects to the region as a whole. In the article Simon Deeming from Hunter Valley Research Foundation backs this point up.
With unemployment at just 4% and a tight rental market rivalling that of Sydney, Deeming points to the huge amount of investment in mining and says that flows through to the rest of the local economy.
“The new mines are further and further up the valley, so that is really benefiting the Upper Hunter, but the infrastructure components run all over the place.” Projects such as the Hunter Valley Expressway and the ports expansion are developments that will spur growth in the Hunter for years to come.
A Close Alternative To Sydney
Another aspect of the Hunter boom is being fed from Sydney. In the article Deeming says he believes the Hunter region is already benefiting from a flow-on effect from its southern neighbour. “The softer side of the economy is exposed in Western Sydney and if you can get a job up here [in mining] rather than building houses which isn’t happening too much right now in the Western Sydney fringe, you can get paid a whole lot of money up here with a better lifestyle.”
Median home prices across the Hunter region average around $400,000, about $100,000 less that most Western Sydney suburbs.
Not Alone On The Hunter
John Anderson, senior economist at forecasting firm Macroplan, calls the Hunter the breakout area in NSW expecting price rises of 7–8%. Terry Ryder, another popular property forecaster, highlighted Newcastle as “Australia’s most under- rated market.”
This is also backed up by the API which we reported in previous articles.
The up shot is this article shows the Hunter is booming and will likely continue to do so. It is a diverse economy, well serviced and a great place to live.
Talk to Portfolios about the Hunter Valley and how you can purchase in this great market today.
I’ve been saying it for six months now – and more and more experts are recognising growth hotspots in the Hunter Valley in NSW.
Portfolios has investment properties for sale in the Hunter Valley, and given the increased press on this area we think now is a good time to invest in this burgeoning region.
And here’s why…
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