Charlestown - Property Investment Suburb Profile (updated 28 March 2019)

Wondering if you should invest in Charlestown NSW? In this suburb profile we provide an overview of median sale price trends, trend in weekly rental income, and an overview of rental demand.

​Data provided is from a variety of sources, including CoreLogic RP Data, the Australian Bureau of Statistics, and RealEstate.com.au. This information is intended as a guide and not financial advice. Please discuss your individual investment goals and circumstances with your accountant and/or financial advisor before taking any action. ​

Charlestown - Location Overview

​Charlestown is a suburb of the City of Lake Macquarie in New South Wales and is the largest town within the city. It is the largest business centre in Lake Macquarie and lies approximately 10 kilometres from Newcastle CBD. 

Central to the suburb is Charlestown Square, the area's largest shopping centre, featuring restaurants, cafes, cinemas, bowling and first class retail stores. The suburb also serves as the district's transport hub, with many bus connections servicing the Newcastle and Lake Macquarie areas via Charlestown. 

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Charlestown Median Sale Price Trend

Charlestown 4 bedroom houses 

• As at 29 March 2019, the median sales price for 4 bedroom houses in Charlestown, NSW in the last year was $700,000 based on 41 home sales
• Compared to the same period five years ago, the median house sales price for 4 bedroom houses increased 30.8%
• This equates to a compound annual growth rate of 5.5%.

Charlestown 3 bedroom houses 

• As at 29 March 2019, the median sales price for 3 bedroom houses in Charlestown, NSW in the last year was $601,500 based on 86 home sales
  
• Compared to the same period five years ago, the median house sales price for 3 bedroom houses increased 43.2%
  
• This equates to a compound annual growth rate of 7.4%.

Historical trend of median sales growth for 3 bedroom and 4 bedroom properties in Charlestown is shown in the below chart. 

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​Charlestown Weekly Rental Income Trend

Houses

• As at 28 March 2019, the median weekly rent for a 4 bedroom home in Charlestown is $500pw based on 37 property listings in the preceding 12 months
• The median weekly rent for a 3 bedroom home is $430pw, based on 140 property listings 
• The median weekly rent for a 2 bedroom home is $370pw, based on 54 property listings

Units

• As at 28 March 2019, the median weekly rent for a 3 bedroom unit in Charlestown is $450pw based on 45 property listings in the preceding 12 months
• The median weekly rent for a 2 bedroom unit is $370pw, based on 87 property listings 
• The median weekly rent for a 1 bedroom unit is $320pw, based on 37 property listings

​​Historical trend of weekly rent for houses and units in Charlestown is shown in the chart below. Interestingly, median rental return for 3 bedroom units has overtaken 3 bedroom houses, and median rent for 2 bedroom units has overtaken  2 bedroom houses.

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Rental Demand in Charlestown

Houses

• ​There has been an average 1,193 visits per listing per month of 4 bedroom rental homes in Charlestown (based on realestate.com.au data), which is evidence of high demand
• There has been an average of 903 visits per 3 bedroom rental home over this same period
• There has been an average of 1,079 visits per 2 bedroom rental home over this same period
• This is based on average data for the 12 months preceding 28 March 2019

Units

• ​There has been an average 792 visits per listing per month of 3 bedroom units in Charlestown (based on realestate.com.au data)
• There has been an average of 672 visits per 2 bedroom units over this same period
• There has been an average of 791 visits per 1 bedroom units home over this same period
• This is based on average data for the 12 months preceding 28 March 2019

Historical trend of rental demand for all units and houses in Charlestown is shown in the chart below. Interestingly, demand for 4 bedroom houses is consistently higher than all other property types, and has experienced phenomenal growth in interest in the previous few months up to Feb 2019. 

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Investment Property Management in Charlestown

​We are highly experienced in managing investment properties in Charlestown, as well as neighbouring suburbs including Dudley, Kahibah, and Warners Bay. If you have any questions regarding rental property management and our experience in the Charlestown rental market, or you would like a no-obligation rental appraisal of a property in Charlestown, contact us at any time. 

Let's talk about Charlestown