501/489 Hunter Street, Newcastle NSW 2300
501/489 Hunter Street, Newcastle NSW 2300
Top-floor city living | North aspect & terrace | Recently updated | Priced at last sale value
This unit presents a rare top-floor configuration in a central city building, offering a north aspect and private outdoor space which are uncommon in the urban core. The recent kitchen update aligns with modern expectations. This property suits an owner-occupier seeking a low-maintenance city lifestyle with light and aspect, or an investor targeting a tenant demographic that values these premium features within a walkable location.
The primary risk is the absence of capital growth since its 2022 purchase, with the current listing priced at its acquisition cost. This suggests a stagnant market perception or a vendor motivated for a swift sale. The building’s age and strata health are undefined costs. Proceed only if a below-list purchase can be secured, positioning it as a long-term hold for lifestyle or a yield play, given the evidenced rental demand in the building.
Detailed Independent Property Report prepared by PropCred Analyst team for 501/489 Hunter Street, Newcastle NSW 2300
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
2
Income Risk
Execution Risk
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Market Insight
Newcastle presents as a vibrant coastal city with a diverse property market, where demand is significantly outstripping supply, as evidenced by declining new listings and strong quarterly sales growth. Demand is driven by skilled professionals and supported by major infrastructure investments, including a transformative precinct redevelopment and enhanced transport links. While the market demonstrates robust momentum, key risks include affordability pressures in certain areas and pockets of price volatility in select suburbs, alongside new apartment supply entering specific precincts.
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PropCred Estimated Value
Bedrooms
Bathroom
Parking
1
Land
135m²
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