The Lower Hunter coalfields is going through a real estate renaissance with investors and cashed up home buyers beating a path to real estate agents doors.
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Blue collar villages like Gillieston Heights, Heddon Greta, Kurri Kurri and Weston, once the reserve of the great Aussie battler, have gained wide appeal among Sydney folk after a lifestyle change. Even the vineyards and its blue chip investments continue to lure international punters.
PRD Nationwide East Maitland office manager Stacey Pethers said her agents had experienced their best winter in business and expected spring to bring even more prosperity.
“The Hunter Expressway has definitely boosted sales in the Kurri Kurri, Heddon Greta and Gillieston Heights area,” she said.
“There are far more investors coming from the outer suburbs of Sydney and they’re mentioning the Hunter Expressway.”
Cessnock councillor and principal of LJ Hooker Cessnock, Bryce Gibson, agreed that the Hunter Expressway had driven robust sales and activity in Kurri Kurri and Heddon Greta, as well as Weston.
“The lifestyle choice is a big factor for anyone buying property and you can change most things about a house, except for its location,” Mr Gibson said.
“Where else in NSW or Australia can you live within 15 minutes from some of the world’s greatest concerts, restaurants, wineries, and golf courses without the multi-million dollar price tag.
“The fact that we are geographically well-positioned between Newcastle and the Central Coast and within striking distance of the Upper Hunter, we have the perfect balance.”
He said the common buyer price points for investing and owner occupied homes was between $250,000 and $350,000.
Mr Gibson said there was a reasonable pipeline of new land within the Cessnock Local Government Area, with the large urban release area of Bellbird North and Kitchener, Bellbird Heights plus the Rose Hill development at Millfield on line.
He is selling also blocks at Stonebridge Golf Course and Vineyard Grove.
Forty-six per cent of homes sold in 2014 in Cessnock were bought by locals already living in the LGA, 19 per cent came from Newcastle, the Central Coast and Lake Macquarie. The balance went to intrastate or interstate people. (Source: domain.com.au).
Long-time Cessnock real estate principal Alan Jurd of Jurd’s Real Estate said sales had been strong from February this year.
“Sydney people are selling up and getting the $1.2 million windfall on their homes in Turramurra for example and coming here to buy great rural properties,” he said.
“It’s not so much younger people, because there are not the job opportunities here as there are in the city, but it’s more the retirees and investors moving in.”
Mr Jurd said they were looking for lifestyle blocks, B&Bs or cellar doors where they could earn an income as well.
