Suburb Profile Report for Cooks Hill NSW (2300)

Cooks Hill House: Median price $965,000, Annual capital growth 8.68%, Number of sales 54, Weekly median advertised rent $500

Cooks Hill Unit: Median price $575,000, Annual capital growth 6.28%, Number of sales 59, Weekly median advertised rent $400

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Cooks Hill has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 29.75%

The five-year average increase in median property values for Cooks Hill,2300 has given property investors a potential capital gain of 71.25% across each of those five years.

Sellers are offering property buyers an average discount of -3.92% to buyers in Cooks Hill at the moment, which is less than average for the rest of NSW.

In the last year 54 properties changed hands in Cooks Hill, which puts it as the 608th most active market in NSW when comparing the number of sales per suburb.

Advertised rents are around the $500 mark per week – giving a return of 2.69% based on the median price in Suburb

Cooks Hill, 2300 ranked 127th in NSW when comparing growth in median property values or capital gain over the last 12 months. Cooks Hill is one of 3163 in our list for NSW

Cooks Hill,2300 was ranked 228 in Australia by increase in median property value over the quarter.

Our latest figures would indicate that property sellers in Cooks Hill are currently offering property investors an average price cut of -2.30% below the asking price at the moment.

Often selling an investment property can take time, and in Cooks Hill the average time real estate has been on the market is 33.2 days.

Using the current median advertised rental of $400 and the average annual increase in value of a median property of 6.28%, investors should hope to achieve an overall return of 3.62%

YIP MAG Information supplied by:

YIP MAG
November 2015

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Don’t be put off by Cooks Hill’s high median house price of $795,000.Full summary Don’t be put off by Cooks Hill’s high median house price of $795,000.

There are some excellent options for purchasing property in this suburb for under $600,000.

This includes two-bedroom houses on Bruce Street, which is within walking distance of the popular shopping and dining precinct on Darby Street.

This kind of property would suit young professionals who can take advantage of the fact that it neighbours the Newcastle CBD.

For around the median price there are also threebedroom houses on Bull Street that are ideal for families.

Houses in this suburb are already selling quickly, as they typically spend just 39 days on the market, which is a strong figure for the Newcastle LGA.

Other indicators of healthy current demand are the auction clearance rate of 72.2% and the fact that there’s 1.12% of stock on the market, according to DSRdata.com.au.

This is not too surprising given the suburb’s sought-after location just a few minutes’ drive from Bar Beach, not to mention the trendy new cafes that have been popping up recently.

And one of the best things about investing in Newcastle is all the infrastructure development that’s underway.

One such development is the $95m education precinct in the CBD.

This will mean that 3,500 students will be able to attend this campus during the day, with the first students commencing in 2017.Close
Metrics i HOUSE UNIT
$965,000 $575,000
5.75% 5.89%
29.75% 12.75%
8.68% 6.28%
$500 $400
54 59
2.69% 3.62%
36.62 33.2

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
Find a mortgage broker in Cooks Hill NSW
Demographics
Total population 3621
Median household income ($/weekly) 1398
Median age of persons 32
Median housing loan repayment ($/monthly) 1950
Average household size 2.1
  • Census Count Percent(%)
    20-24 years 466 12.9
    25-34 years 876 24.2
    35-44 years 475 13.1
    45-54 years 420 11.6
    55-64 years 405 11.2
    Others 979 27.0
    Age Group
    Census Count Percent(%)
    Not Married 1552 55.6
    Registered Married 822 29.5
    Defacto Relationship 416 14.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 2974 87.3
    Papua New Guinea 49 1.4
    United Kingdom 132 3.9
    United States of America 23 0.7
    Other 73 2.1
    Others 156 4.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 64 1.9
    Christianity 1873 57.0
    Islam 19 0.6
    Other Religious Groups 22 0.7
    No Religion 1293 39.4
    Others 14 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 138 9.6
    $400-$599 108 7.5
    $1,500-$1,999 177 12.3
    $2,000-$2,499 115 8.0
    $2,500-$2,999 168 11.7
    Others 729 50.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1363 45.6
    Not in the labour force 785 26.3
    Employed, worked part-time 616 20.6
    Employed, away from work 118 4.0
    Unemployed, looking for work 104 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 223 10.6
    Professionals 875 41.7
    Technicians & trades workers 209 10.0
    Community & personal service workers 201 9.6
    Clerical & administrative workers 229 10.9
    Others 360 17.2
    Occupation
    Census Count Percent(%)
    Pre-school 65 6.8
    Infants/Primary 186 19.4
    Secondary 117 12.2
    Technical or Further Educational Institution 108 11.3
    University or other Tertiary Institutions 456 47.5
    Others 28 2.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Semi-detached, row or terrace house, townhouse 1461 44.1
    Separate house 1133 34.2
    Flat, unit or apartment 712 21.5
    House or flat attached to a shop, office 10 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 863 54.6
    Being purchased 377 23.8
    Fully owned 335 21.2
    Other tenure type 6 0.4
    Tenure Type
Census 2011, ABS
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