Charlestown, NSW, is a dynamic and thriving suburb located approximately 10 km from the Newcastle Central District (CBD). With a population of around 13,500, Charlestown has experienced a steady population growth of 4.1% over the past five years. This growth, coupled with the area's appealing amenities and lifestyle, makes Charlestown an attractive location for both buyers and investors.
Population and Demographics
The predominant age group in Charlestown is 30-39 years, indicating a young and vibrant community. Households are primarily composed of childless couples, and many residents are professionals, contributing to the suburb's dynamic character. The average length of ownership in Charlestown is 12 years, suggesting a stable and settled community.
Real Estate Market Overview
Charlestown's real estate market is robust, with a total of 4,390 dwellings. Over the past 12 months, there have been 155 new property listings, demonstrating an active market. The current median sales price for houses in Charlestown is $890,000, reflecting the suburb's desirability and the quality of life it offers.
House Prices
House prices in Charlestown have shown significant variation:
- Median Price: $890,000
- Lower Quartile Price: $813,750
- Upper Quartile Price: $1,031,250
These figures highlight the range of properties available, catering to different buyer budgets and preferences. The median price represents the middle sale price of all transactions recorded over the past 12 months, offering a clear indicator of the general market trend.
Market Activity
Recent market activity provides further insight into Charlestown's real estate landscape:
- Properties listed for sale include diverse offerings, such as a three-bedroom townhouse at 36/1 Roberts Street, listed at $545,000 - $585,000, and larger homes like 263 Pacific Highway, 4-bedroom, 4 bathroom and 2 car-spaces for $965,000.
- Recent sales demonstrate the varying prices, with a sale at 1/7 Chapman Street, selling for $805,000.
Rental Market
Charlestown's rental market is equally active, with both houses and units available for rent. The median asking rent for houses over the past 12 months is indicative of the area's rental yield potential, making it an attractive option for investors.
Properties for Rent
The rental activity snapshot shows a variety of houses available for rent, including:
- A three-bedroom house at 54 Jennifer Street listed at $620 per week.
- A five-bedroom house at 5 Coolac Close, listed at $780 per week.
Market Dynamics
Understanding the market dynamics in Charlestown is crucial for both buyers and sellers. The data indicates a healthy balance between supply and demand, with a steady flow of new listings and sales. This balance ensures that the market remains competitive, providing opportunities for both investors and homeowners.
Conclusion
Charlestown, NSW, stands out as a vibrant and desirable suburb with a robust real estate market. The steady population growth, active property market, and diverse rental options make it an ideal location for families, professionals, and investors alike.
For homeowners and potential buyers, staying informed about the latest market trends is essential. By understanding the dynamics of Charlestown's real estate market, you can make informed decisions and take advantage of the opportunities this thriving suburb has to offer.
Source: The data and statistics presented in this article are sourced from CoreLogic's Suburb Profile Report for Charlestown, NSW, as of May 17, 2024. For further details, please refer to the original report by CoreLogic.