All About Jesmond, Newcastle , NSW 2299

Jesmond Real Estate Market Outlook

Thinking about buying in Jesmond? Now could not be a better time, with 1966 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $741,000 with prices in this suburb ranging from $197,000 to $170,161,000. Jesmond is located fairly close to the coast at just 6Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

In Jesmond there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. Low average incomes in Jesmond is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. Low average earnings from people in Jesmond leads to lower quality housing which also negatively impacts the provision of facilities. As a consequence this area is often seen as less desirable, with lower quality of housing and slower price growth. Low population density implies low demand and limits housing choices and price increases. Could be a good entry point for first home buyers needing to somehow get into the market. Lower than average industry presence in Jesmond we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Jesmond a better buying opportunity than it may have been in the past.

Instant Property Valuation

Jesmond, located in Newcastle, New South Wales, is a suburb known for its diverse and increasingly sought-after housing market. Over the years, the area has seen a steady rise in both property values and demand, driven largely by its proximity to major institutions like the University of Newcastle and the John Hunter Hospital. The housing market in Jesmond is varied, offering everything from traditional family homes to modern apartments, making it appealing to a wide range of buyers including first-time homeowners, investors, and students. Recent trends suggest that Jesmond is experiencing a phase of gentrification, with more young professionals and families being drawn to the suburb due to its affordable prices compared to nearby areas like Hamilton or Merewether. The rental market is also buoyant, largely propelled by the student population, ensuring a steady flow of potential tenants for investment properties.

Living in Jesmond provides a blend of urban convenience and suburban tranquility. The suburb is well-connected, with public transport options including buses that facilitate easy commuting to Newcastle's city center and other neighboring suburbs. Jesmond is home to Jesmond Central, a key shopping destination that offers a variety of retail outlets, supermarkets, and dining options. Additionally, residents enjoy access to a multitude of recreational facilities, including local parks and walking trails. The community is vibrant and multicultural, reflecting a range of cultural backgrounds and fostering a welcoming atmosphere. Educational institutions and healthcare facilities are readily accessible, contributing to a comfortable lifestyle for families and individuals alike. The combination of affordable living, convenient amenities, and a strong sense of community makes Jesmond a desirable place to call home.

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