Merewether Real Estate
Merewether is a suburb of Newcastle in New South Wales, Australia. It is just 3 km. from Newcastle CBD. It is 6.4 square kilometres in area. Its population was 10,468 in 2011 which went up to 10,9701 in 2016 at a growth rate of 4.8% in 5 years.
This suburb was named after Edward Christopher Merewether, its owner. It was established in late 1880s. Coal mining was the primary industry back then.
The suburb is loved by families and singles alike. It has a great location central to Newcastle CBD with close proximity to beaches and cafés. This suburb is very safe, clean and green, has restaurants, shopping centres, parks and sporting fields. There are 15 public parks spread over 38% of the area here.
It is a favoured neighbourhood with good options to buy, sell and rent homes.
Real Estate in Merewether
Median selling price for houses here was $1,375,000 in October 2020. This is at a good increase of 16.03% in the period October 2019 – October 2020 as compared to last year. Last year in October, the same was $1,185,000. Total annual sales of homes was 153 for October 19--October 20.
The median asking rent for houses is $600 per week in October 20. Ten houses are currently listed on the market for rent.
Median selling price for units here was $577,500 in October 2020. The decrease in price was 2.61% in as compared to the price in the previous year. Total annual sales of units was 79 in the period October 19--October 20. Thirty four units are currently listed on the market for rent. Asking rent is $425 per week.
Two pieces of land were sold in the period October 19 - October 20. Their prices ranged between $1M to $2M.
Merewether is reasonable for property management as you can buy and sell homes and units currently.
Population in Merewether
This suburb is home to more couples with children or families. There are 40% couples without children, 47% couples with children and 12% single-parent families.
There are 21% seniors above the age of 60 living here. Between the ages of 40 to 59 years are 28% people in this suburb. There are about 28% people in the younger age group of 20 – 39 years. 23% people are teens and children in the age groups of 0-19 years.
The predominant age group of people here is in the 20-29 years age group. Couples with children are in the majority here. Mortgage repayments range from $1800 - $2399 per month. Most people here are professionals.
Income in Merewether
Household income is up to $52,000 for about 25.5% households. The same is between $52,000 and $130,000 for another 33% households. The rest earn between $132,000 to $182,000.
Homes in Merewether
33% homes are fully owned, 30% are purchasing homes and 34% are living in rented accommodation.
Real estate here is good for both investment and rental purposes with decent increase in prices. No Bull Real Estate is a well-known real-estate agent with a credible reputation. They specialise in Property Management and help you in getting good real estate investments.
For further information about real estate in this area, do contact No Bull Real Estate, your most reliable and friendly real estate agents in Newcastle and Lake Macquarie. Buying, selling, leasing for residential, commercial, industrial property, contact your local expert to buy, sell or lease today on 49552624 or https://www.nobullrealestate.com.au
Note this article is not a financial or legal advice. Please check with your financial and legal qualified advisors before taking any decisions on your own.
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 https://www.nobullrealestate.com.au