Bar Beach Property Management
Bar Beach is an inner city suburb of Newcastle in New South Wales, Australia. It is 1.6 km. southwest of the Central Business District (CBD). There is a beautiful beach that runs along the eastern border of this suburb. A natural rock pool at the beach was named “The Bar”. This gave the suburb its name.
This suburb is quite small and has about 1,256 people as per 2016 census. This suburb is well-known for its heritage landmarks like Cooks Hill Surf Life Saving Club and Memorial, Reid Park Tennis Clubhouse and Tennis Courts and the Empire Park Bowling Club Fence. Many residential units in the Art Deco style are also listed as heritage units.
Real Estate in Bar Beach
Due to heritage properties, median selling price for houses in Bar Beach is $1.15 million. This is a slump of -35.1% in 2018 compared to 2017. Median selling price of homes in 2017 was $1.7725 million. Only 11 houses were sold in 2018. Average rental for homes is $598 per week. Suburb rental yield is growing at 2.8%. Number of current home rentals is 12.
An average unit in Bar Beach costs $762,500 and has seen an impressive growth rate of 40.7%. Last year, median price of a unit was $542,000. Those who bought a unit last year made a neat profit on their investment. Current median rent of a unit per week is $400 at a growth of 2.7%. Purchased and fully-owned properties are 58% of all real estate. 40% of properties are rented out as per 2016 data of ABS (Australian Bureau of Statistics).
Bar beach is a good suburb for property management with high-value investments in homes or units.
Population in Bar Beach
Bar Beach has more of a young and middle-aged population with a sprinkling of older residents. There are 87% couples. 43% of them have no children. Population is highest in the 20-40 years’ bracket. Older population above the age of 60 is over 220 people. Between 40 to 59 years, there are 390 people, and between 20 to 39 years there are more than 395 people. Below 5 years, there are 50 babies and toddlers while between 5 to 19 years, there are 210 children. Weekly household income is $1500+ for about 250 people. The same is between $500 to $1449 per week for another 60 people. The rest of the people earn below $499 per week. 55% of the suburb’s residents are employed in either full-time or part-time work. 43% of them are professionals. 64% of them drive their car to work.
There are 45% flats, 17% Semis/Terraces and 38% separate houses as types of dwellings. More homes and units are opening up for sales currently. 26% homes are fully owned, 24% are purchasing homes and 45% are living in rented accommodation. Since last year saw a slump in home prices, this can be a good time to buy real estate. No Bull Real Estate is a well-known real-estate agent with a credible reputation in Bar Beach. They specialise in Property Management and help you in getting good real estate investments.
For further information about real estate deals in this area, do contact No Bull Real Estate on 49552624 or go to the website www.nobullrealestate.com.au , your most reliable and friendly real estate agents in Newcastle.