Merewether Property Management
Merewether is the most populated inner city suburb of Newcastle in New South Wales, Australia. It is situated 3 km. from the Central Business District (CBD). It has a population of around 10,984 as per 2016 census. Merewether was established in 1890 and derives its name from Edward Merewether, owner of Burwood Estate that it was a part of. In olden times, coal mining was the biggest industry here. Merewether also once had extensive pottery works and brickyards. Merewether has Newcastle’s most popular beaches, Dixon Park Beach, Merewether Beach and Burwood Beach. Merewether Ocean Baths are the largest in the Southern Hemisphere. These beaches are a big attraction to both tourists and local residents. There are 3 schools here including Merewether Public School. Residents are close to shopping, clubs, parks, cafes and beaches. Merewether has good bus and road connectivity.
Real Estate in Merewether
Median selling price for houses in Merewether is $1,250,000. This is at a decline of -8.8% compared to last year. Median selling price of homes in 2017-18 was $1,370,800. A total of 109 houses were sold in the period of Apr 2018 - Mar 2019. The sale of homes here spikes in the months of March, June, August and November. Average rental for homes is $550 per week. Rentals are growing at 2.3% annually. Number of current home rentals is 167. For units, median selling price is $640,000 which is at a growth of 2.5% as compared to last financial year. The average median price in the previous year was $624,500. There were 154 sales last year. Current median weekly rent is $370 at a growth of 3% based on 336 rentals last year. Merewether has excellent real estate investment opportunities and is a good choice for property management.
Population in Merewether
Merewether has a mix of younger population and seniors. Families include 47% couples, 40% couples with no children, and 12% single-parent homes. Age wise, seniors above the age of 60 are about 2250 people. Between 40 to 59 years, there are 3250 people, and between 20 to 39 years there are around 3250 people. Between 0 to 19 years, there are 2500 babies, children and teens. Weekly household income is between $500 and $1499 per week for about 1000 people. 400 people earn between $100 to $499 per week. The same is about $1500 per week for about 2200 people. 41% of the suburb’s residents are employed in full-time work while 21% are part-time workers. 70% of them drive their car to work, 3% walk to work, 3% cycled to work and 4% worked from home. 29% of them are not in labour force accounting for the students and babies and 3% people are unemployed. As far as homes are concerned, 33% homes are fully owned. 30% people are purchasing homes and 34% are rented accommodations. When we look at dwelling structures, 60% are separate houses, 20% are flats and 19% are semis/terraces. All stats are as per 2016. If you are looking for property managers, No Bull Real Estate is the perfect choice for you. They specialise in Property Management and real estate investments.
For further information about real estate in this area, contact No Bull Real Estate, your most reliable and friendly real estate agents in Newcastle & Lake Macquarie. Buying, selling, leasing for residential, commercial, industrial property, contact your local expert to buy, sell or lease today on 49552624 or www.nobullrealestate.com.au