Suburb Profile Report for Cooks Hill NSW (2300)

Cooks Hill House: Median price $840,000, Annual capital growth 6.55%, Number of sales 60, Weekly median advertised rent $510

Cooks Hill Unit: Median price $505,000, Annual capital growth 4.23%, Number of sales 53, Weekly median advertised rent $420

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in Cooks Hill have tracked higher than the NSW average of 7.93% over the last 12 months.

Taking the average capital gain, or increase in median house value, Cooks Hill,2300 has racked up an average of 20.86% over the period. This ranks it number 1114th in the whole country for real estate investors looking at median house price increases.

Our latest figures would indicate that property sellers in Cooks Hill are currently offering property investors an average price cut of -3.13% below the asking price at the moment.

Residents and property investors in Cooks Hill have been waiting around 24.57 days to sell a property.

The NSW suburb of Cooks Hill, 2300 is in the Newcastle local government area.

If you compare the increase in value of investment property in Cooks Hill, 2300 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this NSW suburb was 2.84%.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Cooks Hill has increased when compared to the 5 year average annual rate.

Vendor discounting in Cooks Hill is giving property investors an average Vendor Discount of around -2.62%. This puts suburb at number 418th in NSW when ranking the most discounted suburbs.

Often selling an investment property can take time, and in Cooks Hill the average time real estate has been on the market is 41.33 days.

With the median price for a house in Cooks Hill being $505000 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 4.32%

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
HOUSE UNIT
$840,000 $505,000
4.35% -7.00%
20.86% 2.84%
6.55% 4.23%
$510 $420
60 53
3.16% 4.32%
24.57 41.33

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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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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