Waratah - Property Investment Suburb Profile (Updated 28 March 2019)

Are you considering an investment in Waratah, 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. ​

Waratah - Location Overview

​Waratah is centrally located just 6 kilometres from the Newcastle CBD, with popular Waratah Shopping Village offering a great variety of shops and cafes at its heart (plus an outstanding Christmas light display!). 

The suburb has grown from an industrial history into a vibrant and desirable residential location, serviced by quality shops and schools. The suburb's primary schools include Waratah Public School and Corpus Christi Catholic School, while Callaghan College and St Phillip’s Christian College provide quality high schooling. 

The University of Newcastle is just a train stop away, while the Calvary Mater Hospital  lies within Waratah itself. 

Housing in the area is diverse, from units and older homes to modern developments, however 3 bedroom home sales are significantly more frequently on market. 

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Waratah Median Sale Price Trend

Waratah 3 bedroom houses 

• As at 28 March 2019, the median sales price for 3 bedroom houses in Waratah, NSW in the last year was $604,250 based on 32 home sales
  
• Compared to the same period five years ago, the median house sales price for 3 bedroom houses increased 48.1%
  
• This equates to a compound annual growth rate of 8.2%.

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

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Waratah Weekly Rental Income Trend

Houses

• The median weekly rent for a 4 bedroom home in Waratah is $490pw as at 27 March 2019, based on 16 property listings in the preceding 12 months
• The median weekly rent for a 3 bedroom home is $420pw, based on 66 property listings
• The median weekly rent for a 2 bedroom home is $400pw, based on 40 property listings

Units

• The median weekly rent for a 3 bedroom unit is $460pw, based on 10 property listings
• The median weekly rent for a 2 bedroom unit is $340pw, based on 47 property listings
• The median weekly rent for a 1 bedroom unit is $240pw, based on 82 property listings

​Historical annual trend of weekly rents for each of these property types is shown in the chart below.

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Rental Demand in Waratah

Houses

• There have been an average 1,260 visits per listing per month of 4 bedroom rental homes in Waratah (based on realestate.com.au data over the 12 months to 27 March 2019), which is evidence of high demand
• 3 bedroom houses have received an average 934 views per month
• 2 bedroom houses have received an average 950 views per month

Units

• 3 bedroom units have achieved an average 1,191 views per month
• 2 bedroom units have achieved an average 802 views per month
• 1 bedroom units have achieved an average 322 views per month

These figures indicate a significant increase in interest in 3 bed units especially in recent months (Jan and Feb 2019). Demand for 3 bedroom units has surpassed 3 bedroom houses, and is very close to matching demand for 4 bedroom houses.  

Historical trend of rental demand for each of the above property types is shown in the chart below. 

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Waratah Investment Property Management 

We are highly experienced in managing investment properties in Waratah, as well as nearby suburbs including Georgetown, Islington and North Lambton.

If you have any questions regarding rental property management and our experience in the Waratah rental market, or you would like a no-obligation rental appraisal of a property in Waratah, contact us at any time. ​