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Warabrook Property Management

Warabrook Property Management

  • 24 Feb 2020
  • Jon Byrne

Warabrook is a northwestern suburb of Newcastle in New South Wales. It is located 8 km. from Central Business District (CBD) and has a population of 1972 people according to the 2016 Population census. Warabrook is mostly a residential suburb. It does have a shopping centre, a facility for seniors and light industry. It was originally an abattoir and cattle yard which was developed later. In 1997, Warabrook Railway Station opened primarily for the University of Newcastle students of Warabrook and Callaghan. There is rail connectivity to the CBD. There is bus connectivity here but not very good. Warabrook has a small shopping area with supermarket but most large shopping closeby in Mayfield.

Real Estate in Warabrook
Median selling price for houses in Warabrook is $590,000. This is at a decline of -6.3% in 2019 compared to the last year. Median selling price of homes in the previous year was $630,000. Total number of homes sold was 21 in 2019. Home sales peak in May, July and August every year. An average home in Warabrook is rented out at $423 per week. Suburb rental yield is growing at a reasonable 3.7%. Number of current rentals is 26. An average unit costs $405,250 and has seen a moderate decline of -8.7%. Last year, median price of a unit was $444,000. Total sales recorded in the last two years was 15 units. Current median rent of a unit per week is $350 at a growth of 4.5%. Total units on rent were 18 last year. This is a good time for property management in Warabrook as the prices are low currently.

Population in Warabrook

This suburb has a mix of old and young population. There are 41% couples, out of which 39% do not have children and 16% are single parent families. Seniors above the age of 60 are over 580 people. Between 40 to 59 years, there are 540 people, and between 20 to 39 years there are more than 500 people. Below 5 years, there are 80 babies and toddlers while between 5 to 19 years, there are 300 children. Weekly household income is $1500+ for about 290 households. The same is between $500 to $1499 per week for another 250 households. About 100 households earn below $500 per week. 34% of the suburb’s residents are employed in full-time work, 16% in part-time work, 3% are unemployed and 48% are not in labour force accounting for children and babies. These are according to 2011 statistics. 67% of them drive their car to work and 4% work at home. There are 4% flats, 27% Semis/Terraces and 68% separate houses as types of dwellings. 37% homes are fully owned, 26% are purchasing homes and 35% 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

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