Recent figures from Australian Property Monitors and the Real Estate Institute of NSW (2010) show that while the median house price for a decent-sized family home in Sydney is fast approaching $600,000, Newcastle’s median house price is less than two thirds of that, at $355,000. It is possible in Newcastle to own a spacious family home close to the city’s best beaches and the inner city not be out of pocket for more than about $420,000.
Rental properties, particularly in more rural locations, can still be found for under $150 per week.
Long-time Newcastle real estate agent Sonia Walkom, of Walkom Real Estate said she believes Newcastle and the Hunter region offered a rare combination: a wonderful lifestyle combined with reasonably priced real estate. “It really is a lovely place to live and bring up a young family with a great lifestyle,” Mrs Walkom, who played a role in helping doctors relocate to Newcastle when the John Hunter Hospital was being established, said. “There is the the Bay, Lake Macquarie and of course the wineries. “It is a safe, friendly community and also a very academic community, with the university and excellent schools, so I am a firm believer in this place and what it has to offer.”
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