Balanced rental housing market in Newcastle: HTW
The Newcastle housing market is currently balanced with rental vacancy in a period of stability, according to a recent Herron Todd White (HTW) report.
The property valuation firm says that the trend in the Newcastle is towards a tightening rental vacancy.
It also noted a very strong demand for newly constructed houses.
Newcastle is at the peak of the housing market with new properties almost always being sold at prices exceeding their potential resale value, the firm says.
A four bedroom house at 62 Wolfe Street, Newcastle (above) recently sold for $975,000.
Similarly, a three bedroom house at 336 Wharf Road, Newcastle (below) recently sold for $660,000.
A three bedroom house at 141 Parry Street, Newcastle (below) is available for rent from $530 per week.
A seven bedroom house at 18 Church Street, Newcastle (below) is available from $185 per week.
