The Junction Property Management
The Junction is a small, inner city suburb of Newcastle in New South Wales, Australia. It is located 2.8 km. from the Central Business District (CBD). It became a suburb on 17 May, 1991. Originally it was a part of Merewether, which is reflected in the names of some of its establishments. The Junction has a population of around 1000 as per 2016 census.
The Junction has two schools that cater to Primary students. Mr. Edward Charles Merewether donated the land on with The Junction Public School was established in 1872. The school was extensively damaged in the 1989 Newcastle earthquake that lead to a lot of it being demolished.
The other school is St Joseph's Primary School in Farquhar Street and is a Catholic school that was established in 1885.
Real Estate in The Junction
Median selling price for houses in The Junction is $1,450,000. This is at an increase of 8.8% compared to previous year. Median selling price of homes in 2017-18 was $1,332,500. A total of 13 houses were sold in the period of Apr 2018 - Mar 2019. Buying homes is a good investment here. The sale of homes peaks in February, September, November and December. Average rental for homes is $535 per week. Rentals are growing at 1.9% annually. Number of current home rentals is 10.
As far as units are concerned, median selling price is $680,000 which is at a dip of -13.9% as compared to last financial year. The average median price in the previous year was $790,000. There were 11 sales last year. Current median weekly rent is $380 at a growth of 2.9% based on 35 rentals last year.
The Junction has good real estate investment opportunities that are perfect for property management.
Population in The Junction
The Junction has a mix of younger and older people. Families include 43% couples. 39% of them have no children, and 18% are one-parent homes. Seniors above the age of 60 are about 240 people. Between 40 to 59 years, there are 280 people, and between 20 to 39 years there are more than 340 people. Below 5 years, there are 40 little kids and babies while between 5 to 19 years, there are 150 children and teens. Weekly household income is $1500+ for about 210 people. The same is between $500 to $1449 per week for another 140 people. The remaining working population earns below $499 per week. 37% of the suburb’s residents are employed in full-time work while 20% are part-time workers. 60% of them drive their car to work and 7% walk to work. 30% 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. 26% people are purchasing homes and 37% are renting accommodations. When we look at dwelling structures, 45% are separate houses, 21% are flats and 33% are semis/terraces. 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 deals in this area, contact No Bull Real Estate, your most reliable and friendly real estate agents in Newcastle. 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