Waratah West Property Management
Waratah West is a suburb of Newcastle in New South Wales. It is 8 km. from Central Business District (CBD) and has a population of 2,988 people according to the 2016 Population census. It’s a small suburb very close to University of Newcastle thus making it popular especially with students. Waratah West has modern houses along with old brick homes. Braye Park is a large recreational area here. It has walking areas and picnic facilities. Morpeth Road Reserve and Thomas Percy Oval are recreational areas. Waratah West is close to the university, shopping, schools and other amenities.
Real Estate in Waratah West
Median selling price for houses here is $507,500. This is at a rate of -4.8% in 2019 compared to last year. Median selling price of homes in the previous year was $533,000. Total number of homes sold was 48 in 2019. Home sales peak in February, May, June and November every year. An average home in Waratah West is rented out at $380 per week. Suburb rental yield is growing at a reasonable 3.9%. Number of current house rentals is 112. An average unit costs $500,000 and has seen a decline of 15.6%. Last year, median price of a unit was $432,500. Total sales recorded were 5 units in the last year. Current median rent of a unit per week is $295 at a growth of 3.1%. Total units on rent were 27 last year. This is a good time for property management in Waratah West as the prices are reasonable currently.
Population in Waratah West
This suburb has a large youth population as it is close to University of Newcastle. There are 34% couples, out of which 39% do not have children and 23% are single-parent families. Seniors above the age of 60 are over 625 people. Between 40 to 59 years, there are 575 people, and between 20 to 39 years there are more than 1200 people. Below 5 years, there are 175 babies and toddlers while between 5 to 19 years, there are about 425 children. Weekly household income is $1500+ for about 360 households. The same is between $500 to $1499 per week for another 450 households. About 180 households earn below $500 per week. 28% of the suburb’s residents are employed in full-time work, 18% in part-time work, 5% are unemployed and 43% are not in labour force accounting for children and babies. 65% of them drive their car to work and 3% walked to work. There are 3% flats, 8% Semis/Terraces and 88% separate houses as types of dwellings. 30% homes are fully owned, 25% are purchasing homes and 40% 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