Newcastle growth rates tipped to exceed Sydney: HTW
Cooler investment sentiment may be making its way to Newcastle and the Hunter Valley from Sydney according to Herron Todd White's February Month in Review however hotspots in Newcastle still remain.
HTW note some speculations tip growth rates to exceed Sydney’s, with HTW predicting strength in the local market will remain property located within a five kilometre radius of the Newcastle CBD and within close proximity of the University of Newcastle.
"Residential property in popular holiday destinations such as Nelson Bay will remain in high demand, however it’s important to remember large external financial events can impact discretionary spending in different ways," the report said.
"Some people may be encouraged to holiday and spend their money locally which benefits local economies, while some people may refrain from holidaying at all until economic conditions improve. Sadly, housing market prospects in the towns dependant on the mining industry do not look like improving in the short to medium term.
Williamtown’s contamination issue continues to dominate media headlines and unfortunately for many living within the identified contamination zone, 2016 remains a year in question and we are all hoping for a positive outcome here.