Newcastle, NSW
Purchased via negotiation
- Purchase Price: $822,500 in Aug 2023
- Valuation in Jan 2024: $860,000
- ROI: $38,000 equity gain in 5 months
We purchased this investment property in Newcastle for our long-term clients and it is their third investment property, only minutes away from the CBD and beaches.
Our clients are a young couple in their twenties who have decided to rent-vest. In three years they have purchased three properties (Brisbane, Regional VIC and Newcastle) with a market value of around $2m.
This property provides them with access to the strong Newcastle property market and into a suburb that has generated on average 9.5% growth per year for the last 10 years. We are excited to see the continued growth of their property portfolio.
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