Elermore Vale is a suburb located 13 km west of Newcastle, New South Wales. It has a recorded population of 5,526 according to 2016 ABS statistics. It is 141 km or around a 2-hour drive to Sydney CBD.
This suburb was formerly used by farmers for coal mining, and cattle and chicken rearing. However, in the 1960s, the area slowly transformed into a residential one as facilities were constructed such as schools and community centre.
Elermore Vale is popular with families and retirees as those with ages 65 years and over comprise 20.6% of the population. There is considerably high demand here as houses are only on the market for an average of 13 days.
Elermore Vale is a great place to raise a family. The area has a lot of accessible amenities and reputable schools.
According to Residex, Elermore Vale experienced market growth of 10.8% from Sep 2020 to Aug 2021 for houses. The market is also rich for units with a 9.6% growth on the same period. The market is predicted to grow from 1-4% in the next 5 years.
Positively geared properties
One of the factors most investors look at in determining positively geared properties is the rental yield. REA has noted a 4.4% p.a. yield for houses while 5.1% p.a. for units.
Another factor real estate investors look at is the vacancy rate. Lower vacancy rates might indicate low supply in the area thus, strong demand. As of September 2021, vacancy rate is at 1.4% (70 vacancies), a slight difference compared to last June which was at 1.6% (80 vacancies). This is considered a good number for suburbs across New South Wales.
The Elermore Vale Shopping Centre is your one-stop-shop. Locals love to go here for essential services such as the dentist and barber, grocery shopping, and good parking.
Leisure & Lifestyle
Elermore Vale is ideal for those who love to do outdoor activities, hanging out with family and friends as there are a couple of parks in the area. One can spend an afternoon with their dogs at the Elermore Valley Dog Off-Leash Area or simply have a walk at the George McGregor Park.
Although there are no major hospitals situated specifically here, the John Hunter Hospital and Newcastle Private Hospital are less than 5 km away or around an eight-minute drive. The Elermore Vale General Practice, located at Croudace Road, caters to consultations, child immunisations, etc.
Parents won’t be having a hard time selecting the best education for their children as there are various options to choose from within a 5km radius. There is the Macquarie College which is considered one of Newcastle's leading private schools. Some schools are Elermore Vale Public School, Wallsend Public School, and Jojo Public School.
If you consider buying at Elermore Vale, median prices are at $654,000 for houses while it is at $458,000 for units.
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