According to statistics released by the Australian Bureau of Statistics and published by the Real Estate Institute of Australia, roughly 12,729 estate agents do business in the state of New South Wales, working for more than 20,000 real estate establishments.
In cities where a score of real estate agents are available to help you sell your property, choosing the right estate agent for you becomes difficult. Fill out the form above to receive a comprehensive and comparative list of real estate agents in your area.
Modern real estate in Newcastle
The 2016 census found that Newcastle is made up of just over 138,000 private dwellings. The majority of these (78.1%) are separate houses, with 12.6% and 8.4% of these being semi-detached houses and flats or apartments respectively.
In the past decade, the city has started reinventing itself, and Newcastle’s industrial history is slowly making way for a wave of new developments, including many in real estate. A demand for residential real estate has seen a boom in new residential developments and the renovation in under-capitalised old buildings.
This, and the growth drivers that result from the gentrification of the city, makes Newcastle a good pick for real estate investment, and many Sydney-based investors are turning their attention to Australia’s seventh-largest city.
Commission structures in Newcastle can be divided into fixed or tiered commission, according to the terms that are negotiated with the agent. The agent commission rate in Newcastle is 2.33% on average, but commission rates may vary.
A smart city to watch
Newcastle is the second most populous city in the state of New South Wales, and the principal city in Australia’s Hunter Valley. Famous for its coal, Newcastle is letting go of its industrial past to focus more on commercial and residential infrastructure.
In 2017, Newcastle was named one of the world’s top “Smart Cities” to watch by National Geographic Traveler magazine. The city has become known as a Smart City due to innovative measures like smart parking and lighting that detects when streets are busiest to improve energy efficiency and city amenity. Newcastle’s business district is one of very few areas in Australia that offers free WiFi to residents.
Following the lead of groups like Renew Newcastle and Newcastle Now, Novocastrians have resolved to developing dilapidated and run-down buildings into pop-up spaces for artists like painters, furniture designers and writers to practice and exhibit their craft.