Find Finance & Mortgage Brokers in Newcastle

Find Clarity in the Newcastle Loan Market Newcastle is NSW’s second-largest city and Australia’s seventh-largest, located 160km north of Sydney on the Hunter River where it meets the Pacific Ocean. The city serves as the economic and education hub for the Hunter Region with a total regional population of 500,000 and city population of 348,539.

Newcastle’s property market experienced significant boom during COVID but then entered stagnation through 2023 before recovering to its 2022 peak of $860,000 by mid-2024, with current medians ranging from $836,519 to $920,000 depending on source and timing. The market is characterized by tight supply with inventory levels around 2 months of stock (low even for regional cities), declining days on market since mid-2023 indicating increasing demand, and strong fundamentals including unemployment below 2.9% compared to NSW average of 3.7%.

Housing stock includes beachside properties in premium suburbs like Merewether ($2.15M median), Bar Beach, and Newcastle East, affordable family homes in growth suburbs like Mayfield and Waratah, lifestyle properties around Lake Macquarie with waterfront access, and apartments concentrated in the CBD and near the University of Newcastle. The city is experiencing significant Sydney migration driven by Newcastle’s 58% lower property costs and improved connectivity via the NorthConnex tunnel which funnels directly to the M2, making Sydney commuting viable.

Major infrastructure and economic drivers include the world’s largest coal-exporting port providing economic stability, University of Newcastle with strong research and student population, $3B Hunter Park/Broadmeadow urban renewal project, John Hunter Hospital as major employer, and emerging tech and creative industries. The rental market is exceptionally tight with vacancy rates at 1%, median house rents at $650/week and units at $570/week (both up from previous years), and strong rental yields of 4-7.7% depending on location making it attractive for investors.