Back in September 2020, we wrote a number of articles sharing data specific to Newcastle and Lake Macquarie investment property, which showed how people were relocating to regional areas away from capital cities. Those changes were cited at the time as resulting in driving house price growth and low rental vacancy rates in regional areas.
Now, a full year later, fresh research continues to emerge showing that this trend is lasting - great news for investors in the Newcastle and Lake Macquarie region!
In this post we summarise the latest research and data highlighting the impacts of regional migration on rental vacancy rates and housing affordability across the Newcastle and Lake Macquarie region. The findings are remarkably similar to our article 12 months ago.
We've all seen property prices skyrocket post-COVID, particularly in regional areas such as Newcastle and Lake Macquarie. Exodus from capital cities, increase in numbers of people working from home, and a desire to live somewhere with more space and a greater lifestyle has all been part of this shift.
In this post, we detail what this shift to the regions - specifically to the Newcastle and Lake Macquarie area - has had on two primary measures of the rental market: rental vacancy rates and weekly rental amounts.
We take a look at how these two measures have changed over the past 12 months across the following broad areas of the region, to provide a snapshot to answer the question "How's the market?":
Management of investment property can certainly be complicated. With or without a property manager, you need to navigate a world of legislative requirements, insurances, and for many starting out their investment journey, you need to chart a course through the unknown.
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So, we've developed a simple resource to help: PropertySnacks.
Carnelian Property Management Newcastle NSW
We are a family-owned and run Charlestown real estate agent offering expert property management across Newcastle and Lake Macquarie.