Newcastle region property prices cool as Sydney investors pull back
The retreat of Sydney investors and weaker buyer confidence have contributed to price falls of up to 10 per cent in parts of the Newcastle region, but billions being spent in infrastructure could turn things around.
Billions of dollars in planned infrastructure investment are adding to Newcastle’s longer-term growth story as the property market adjusts to weaker investor demand. (Image source: Henryk Sadura/Shutterstock.com)
The disappearance of economic refugees from Sydney, previously a linchpin of the property markets of Newcastle and surrounds, have helped contribute to price falls of up to 10 per cent, according to experts.
Extending from around 120km to 300km north of Sydney, and including the city of Newcastle
and Lake Macquarie at its south end, the Hunter Region has been hit by the housing downturn affecting much of the rest of the nation.Yet it’s not all…
