Newcastle, NSW
Purchased via negotiation
- Purchase Price: $690,750 in Sept 2023
- Valuation in Jan 2024: $750,000
- ROI: Over $59,000 equity gain in 4 months
We purchased this investment property in Newcastle, in one of its more popular suburbs, as a great asset for our overseas based clients. We provided research into a number of suitable locations and decided on the Newcastle market for their first investment.
Although we had access to this property off-market, we allowed it to go to market due to the vendors price expectations. This proved to be the right strategy and we were able to secure it after the vendors expectations had adjusted to the current market.
Sitting on a large 820sqm parcel of land, this home is well located in an owner occupier dominant market, and with a rental vacancy of 0.5% quality tenants will not be hard to find.
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