Suburb Profile Report for Gateshead NSW (2290)

Gateshead House: Median price $420,000, Annual capital growth 5.20%, Number of sales 39, Weekly median advertised rent $385

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report

Investment property in Gateshead has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -8.70%

The five-year average increase in median property values for Gateshead,2290 has given property investors a potential capital gain of 32.08% across each of those five years.

Sellers are offering property buyers an average discount of -5.97% to buyers in Gateshead at the moment, which is less than average for the rest of NSW.

A $385 per week rent on the median house gives suburb investors a gross yield of circa 4.77%, without taking into account capital value appreciation, which has been averaging out at 5.20%.

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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.

Metrics i HOUSE UNIT
$420,000 N/A
-3.06% N/A
-8.70% N/A
5.20% N/A
$385 N/A
39 N/A
4.77% N/A
53.1875 N/A

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Above average (U)
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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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