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Newcastle Property Prices Outstripping Capital Cities

By Darren Penn

The median house price in Newcastle has grown faster than in every Australian capital city over the past 5 years, providing good news for home owners.

Data collated by Propell, a national property valuation company, also shows the growth in Newcastle’s median price will outstrip all Australian capitals except Sydney this year.

Propell’s data shows Newcastle’s median prices are expected to rise by 8% over the next 12 months and the median price of units in Newcastle is even closing in on Melbourne and Perth, having already overtaken the median unit price in Adelaide, Canberra and Hobart.

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