Newcastle: a viable alternative to Sydney
Redevelopment and growth in Newcastle
From an industrial hub to Australia’s seventh largest city and one of the top 10 cities in the world (per Lonely Planet in 2011), Newcastle is experiencing great redevelopment and growth.
The recent surge of investment activity includes the new Wickham transport interchange, the new light rail system on Hunter Street, the Newcastle City University Campus construction and much more. With the government’s support and the NSW Government’s Urban Renewal Strategy for Newcastle, investors have increased confidence with the property market. “Investors are attracted to the convenience of inner city residency and the lifestyle opportunities it affords them in a commodified bundle,” Colliers International Director Residential Project Marketing Dane Crawford said. For Sydney-siders that are priced out of the market, Newcastle offers city, metropolitan and regional living opportunities. As economic conditions improve, Newcastle will continue to be a rising property market and a viable alternative to Sydney life.
Original article and photo: Redevelopment And Growth Make Newcastle Ripe For Sydney Investors