Waratah Property Management
Waratah is a north-western residential suburb of Newcastle in New South Wales. It is 6 km. from Central Business District (CBD) and has a population of 4,491 people according to the 2016 Population census. Waratah once had a coal mine of the same name. Brick making was the main industry in the late 1800s. Then the Waratah Brickyard closed down in 1969. The suburb has come up a lot in the recent years and is now a preferred location for professionals and families. Waratah has excellent accessibility in terms of transport with a train line. There are public schools, Waratah Technology Campus of Callaghan College, pubs, shopping and sporting clubs. It has a major hospital, Calvary Mater. Waratah is highly sought after due to its excellent location close to CBD, over 150-year history, beautiful cottages and superb amenities.
Real Estate in Waratah
Median selling price for houses here is $547,500. This is at a decline of -8.8% in 2019 compared to the last year. Median selling price of homes in the previous year was $600,000. Total number of homes sold was 66 in 2019. Home sales peak in March, October, November and December every year. An average home in Waratah is rented out at $400 per week. Suburb rental yield is growing at a reasonable 3.8%. Number of current rentals is 115. An average unit costs $385,000 and has seen a decline of -12.5%. Last year, median price of a unit was $440,000. Total sales recorded were 41 units in the last two years. Current median rent of a unit per week is $300 at a growth of 4.1%. Total units on rent were 146 last year. This is a good time for property management in Waratah as the prices are reasonable currently.
Population in Waratah
This suburb has a mix of old and young population. There are 36% couples, out of which 39% do not have children and 23% are single-parent families. Seniors above the age of 60 are over 1200 people. Between 40 to 59 years, there are 1000 people, and between 20 to 39 years there are more than 1400 people. Below 5 years, there are 250 babies and toddlers while between 5 to 19 years, there are about 600 children. Weekly household income is $1500+ for about 600 households. The same is between $500 to $1499 per week for another 600 households. About 350 households earn below $500 per week. 28% of the suburb’s residents are employed in full-time work, 16% in part-time work, 4% are unemployed and 40% are not in labour force accounting for children and babies. 66% of them drive their car to work and 4% walked to work. There are 19% flats, 18% Semis/Terraces and 62% separate houses as types of dwellings. 21% homes are fully owned, 28% are purchasing homes and 47% are living in rented accommodation. Real estate here is good for both investment and rental purposes. No Bull Real Estate is a well-known real-estate agent with a good reputation. They specialise in Property Management and help you in getting good 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 https://www.nobullrealestate.com.au