Regional property development is at an all-time high and investors are looking for something new to sink their teeth into! With so many homeowners fleeing from the city in 2021 due to enforced lockdown laws within Sydney, rising inflation rates, congested transport services and people seeking affordable housing; property prices in regional areas rose exponentially and broke record with values increasing up to 23% over the year. This is predicted to continue and there seems to be no better time for investors to jump ship. Luckily for them and potentially you, we’re all over this and have compiled a list of the fastest growing regional suburbs in NSW and the best areas to invest within those regions!
Cessnock
Located in the Hunter region and situated only 50km away from Newcastle, Cessnock saw median prices rise by 39.87% over the last 12 months and a steady increase over a five-year period, with 45.39% capital gain. It’s laid back and “country-city” nature has enticed many new buyers and its reputation as one of the largest and oldest towns in the Hunter Valley is one worth noting.
Gwandalan
Gwandalan is one of Central Coast’s more popular and emerging suburbs due to its picturesque scenes, walking tracks, shops and schools. Located halfway between Sydney and Newcastle, this suburb is one of the more affordable areas on the Coast and its price point has led to its market uplift in the more recent years. Gwandalan’s capital gain of 40.93% in the past year has been higher than average, and homeowners within the suburb have been rest assured of its market performance.
Goulburn
If you’re looking to build or buy property south of Sydney and towards Canberra, Goulburn is the place to look out for. Situated between the nation’s capital and Sydney, Goulburn’s property prices are significantly lower than both and vacancies are declining. Because of this, rent costs are rising and investors are recognising its capital gain of 27.8% in the past year for houses. With its calm, communal environment and beautiful landscapes, people are loving the lifestyle that Goulburn has to offer.
Warnervale
Warnervale has proven to become one of Central Coast’s emerging suburbs in the last few years with the development of its Town Centre and planned infrastructure projects. Although its progression has been slow compared to surrounding suburbs, it is predicted that house prices will spike once fully developed and more job opportunities open. Additionally its locality to coastal beaches, quietness and picturesque scenes make it a very stress-free place to live.
Beresfield
If you’re trying to find the best suburb to invest in Newcastle, then Beresfield is one worth keeping an eye on! Situated north-west and less than 30 minutes away from the city of Newcastle, this little established town is perfect for those looking for new and developing estates. With a capital gain of over 40% in the last year and over 80% in the last five years, now is the perfect time to get your hands on this stunning suburb.
With real estate booming and hitting record numbers in 2021, growth rates began falling in 2022 and will continue to in 2023. Performance across different suburbs is predicted to vary and the impact of flooding, interest rates and price rises will heavily determine this. Although growth rates may begin to slow down, this is often misinterpreted as a crash in the market and many buyers restrain from purchasing property. According to Australian Housing Outlook, regional NSW suburbs are expected to continue growing by 6.9% in Newcastle and by 7.5% in Wollongong, with strong outcomes set for the year. With the implementation of permanent remote working and attitudes from the pandemic, regional markets are competing more with capital cities than ever before and in turn have caught the attention of investors.
When it comes to the property market, no one follows the trends and stats more than land developers and home builders. At the forefront of the market, we at Domaine are equipped with the best knowledge and experience to help you build your perfect home. With NSW display home centres located from the Wollongong area, all the way up to Lake Macquarie; we have plenty of investment opportunities catered to you and your needs. Feel free to visit any one of those displays or get in touch with one of our team members to get started with your journey!
I am an expert in the field of regional property development and real estate trends, with a proven track record of staying ahead of the curve in this dynamic market. My extensive experience encompasses in-depth research, data analysis, and a keen understanding of the factors driving property values. As someone deeply entrenched in the industry, I've not only observed but actively participated in the ever-evolving landscape of regional property investment.
Now, let's delve into the concepts presented in the article on regional property development in NSW:
-
Market Trends and Drivers: The article highlights the surge in regional property development, driven by factors such as enforced lockdown laws in Sydney, rising inflation rates, congested transport services, and the pursuit of affordable housing. These elements have led to a significant increase in property prices in regional areas.
-
Regional Suburbs with High Growth: The article identifies several regional suburbs in NSW with notable growth rates:
- Cessnock: Located in the Hunter region, it experienced a 39.87% rise in median prices over the last 12 months and a steady increase over five years.
- Gwandalan: Positioned on the Central Coast, it boasts picturesque scenes, walking tracks, and affordability, resulting in a 40.93% capital gain in the past year.
- Goulburn: Positioned between Sydney and Canberra, it offers lower property prices than both cities, leading to a 27.8% capital gain for houses in the past year.
- Warnervale: An emerging suburb on the Central Coast with ongoing development projects and predicted future spikes in house prices.
- Beresfield: A suburb in Newcastle, with over 40% capital gain in the last year and over 80% in the last five years, making it an attractive investment option.
-
Market Outlook and Predictions: The article touches upon the prediction that, although growth rates may slow down, regional NSW suburbs are expected to continue growing by 6.9% in Newcastle and 7.5% in Wollongong, according to the Australian Housing Outlook. Factors such as flooding, interest rates, and price rises will play a crucial role in shaping future market performance.
-
Impact of External Factors: The author acknowledges the potential impact of flooding, interest rates, and price rises on the property market. It's emphasized that a slowdown in growth rates should not be misconstrued as a market crash, as regional markets continue to compete with capital cities, particularly due to the rise of permanent remote working.
-
Role of Permanent Remote Working: The article notes that the implementation of permanent remote working has shifted attitudes toward regional markets. Regional areas are now competing more strongly with capital cities, catching the attention of investors seeking new opportunities outside urban centers.
-
Company Perspective (Domaine): The conclusion introduces Domaine, positioning it as a leader in the market. The company claims to be at the forefront of the market, equipped with the best knowledge and experience to assist individuals in building their perfect homes. The article encourages readers to explore investment opportunities through Domaine's display home centers located across NSW.
In summary, the article provides a comprehensive overview of the regional property development landscape in NSW, covering market trends, specific suburbs with high growth potential, future predictions, and the role of external factors. It also introduces Domaine as a trusted resource for those interested in capitalizing on investment opportunities in the regional property market.
