While some cities are facing significant challenges with rental vacancies in the post-coronavirus property market, Newcastle is seeing strong demand for new home rentals.
Despite the uncertainly from the COVID-19 epidemic, the Newcastle and Hunter region is still receiving plenty of activity with people seeking affordable housing near capital cities.
Doma Group wants to develop the vacant site in Newcastle's booming Honeysuckle precinct into a hotel with 179 rooms and a rooftop bar and a 4,793sq m office building.
Cessnock and Maitland are forecasted to be among the fastest growing areas in NSW with the population in the Hunter region expected to increase by 14.5 per cent by 2041.
The First Home Loan Deposit Scheme will start in January 2020, and it could help the recovering property market gather pace. This is what it means for investors.
The REINSW Residential Vacancy Rate Report for September revealed that rental vacancy rates have dropped across the board. For instance, the Hunter's rate is down to 1%.
Gosford is becoming a world class health, research and education precinct, and the new facility will be funded by the government and the University of Newcastle.
Newcastle is investing more than ever into roads, community buildings and parks, with $91.6 million spent on major infrastructure upgrades and projects.
Work recently began on a new education and research facility at Gosford Hospital. The new facility will boost the local economy and create more jobs for people on the Central Coast.
