Suburb Profile Report for Gateshead NSW (2290)

Gateshead House: Median price $371,440, Annual capital growth 5.38%, Number of sales 57, Weekly median advertised rent $350

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Expert Report

Property investors who have had real estate in Gateshead, 2290 should be relatively pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.66%

Over the longer term, Gateshead has seen property prices show investors a 20.21% return over the last 3 years. This is worse than over the last 12 months

Our latest figures would indicate that property sellers in Gateshead are currently offering property investors an average price cut of -4.44% below the asking price at the moment.

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Gateshead is one of the few suburbs in the Newcastle region where you can count on finding a house for under $300,000. It is just 6km to the beaches at legendary surf spot Redhead and a quick commute into Newcastle. That is moving the area up on the lists of first time home buyers especially, says local agent Damon Ellis.

Full summary

The suburb has been racking up around 10% average annual growth over the past 10 years; however, growth over the past 3-5 years has been well below that. There are now signs that the property market is on a rebound. 

Gateshead is one of the few suburbs in the Newcastle region where you can count on finding a house for under $300,000. It is just 6km to the beaches at legendary surf spot Redhead and a quick commute into Newcastle. That is moving the area up on the lists of first time home buyers especially, says local agent Damon Ellis. 

“You’re seeing a lot more activity there recently,” he says. “For example, I’ve got a couple who are looking at buying in Gateshead at the moment and they’re relocating from Queensland and their main things are affordability and being close to the beach. Redhead has recently become one of his favourite surfing spots.” 

Ellis says investors are also starting to take notice of Gateshead, which boasts strong rental yields of above 6% and a tightening rental market. The expanding Lake Macquarie Private Hospital means investors can count on a good pool of medical professionals looking for rental housing.

Best street(s):  Goundry Street: A broad street with good access and several charming brick homes.

Close
HOUSE UNIT
$371,440 N/A
2.89% N/A
7.66% N/A
5.38% N/A
$350 N/A
57 N/A
4.90% N/A
38.76 N/A

Source: CoreLogic

DSR Score for property investment : Good (U), Very good (H)
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Demographics
Total population 3574
Median household income ($/weekly) 819
Median age of persons 37
Median housing loan repayment ($/monthly) 1517
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 510 14.3
    25-34 years 450 12.6
    35-44 years 446 12.5
    45-54 years 488 13.7
    55-64 years 381 10.7
    Others 1299 36.3
    Age Group
    Census Count Percent(%)
    Not Married 1289 49.7
    Registered Married 1017 39.2
    Defacto Relationship 286 11.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 3115 91.9
    Papua New Guinea 40 1.2
    Philippines 16 0.5
    United Kingdom 77 2.3
    Other 55 1.6
    Others 88 2.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 19 0.6
    Christianity 2378 73.1
    Islam 26 0.8
    Other Religious Groups 14 0.4
    No Religion 814 25.0
    Others 3 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 148 12.6
    $400-$599 183 15.6
    $600-$799 149 12.7
    $1,000-$1,249 119 10.1
    $1,500-$1,999 123 10.5
    Others 452 38.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1266 47.7
    Employed, worked full-time 737 27.8
    Employed, worked part-time 421 15.9
    Unemployed, looking for work 141 5.3
    Employed, away from work 88 3.3
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 203 16.4
    Community & personal service workers 150 12.1
    Clerical & administrative workers 160 12.9
    Sales 174 14.0
    Labourers 211 17.0
    Others 343 27.6
    Occupation
    Census Count Percent(%)
    Pre-school 78 10.1
    Infants/Primary 313 40.3
    Secondary 233 30.0
    Technical or Further Educational Institution 62 8.0
    University or other Tertiary Institutions 71 9.1
    Others 19 2.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3169 92.9
    Semi-detached, row or terrace house, townhouse 164 4.8
    Flat, unit or apartment 70 2.1
    House or flat attached to a shop, office 9 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 543 42.6
    Being purchased 369 28.9
    Fully owned 364 28.5
    Other tenure type 0 0.0
    Tenure Type
Census 2011, ABS
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Recent sales & rentals