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Home prices in Teralba double in 10 months | Newcastle Herald

News, Local News, Teralba, New South Wales, Home Prices, 2021, Newcastle Herald, Paul Avery, Lake Macquarie

The rise of the Teralva housing market is dizzying, even if a 30% annual price increase is virtually the norm. Median home prices on the outskirts of Lake McCawley surged from $ 370,000 to $ 680,000 between October and August 2020, according to CoreLogic data. In January-February alone, the median surged $ 135,000. Paul Avery of Avery Property believed that many factors contributed to the significant increase in numbers. He said the new developments at Billy’s Lookout led to an “explosion” of housing supply, diluting the number of old-style homes at lower prices. Related: “Magic” Belmont North Homes with Trains with Record Home Prices Rising Across Hunters Kahibaa: Home Sales Campaign in Front of Celebrity Sheep “Close to Newcastle, and Probably To the Same” I think it’s due to the area, like Warners Bay and Charlestown, “Avery said. “There’s a lot of hype because people understand the geographically central location and there are lots of new parcel areas where people can buy brand new homes.” Railroads are also attractive. “It wasn’t very popular to ride the railroad line many years ago, but today everyone is looking at fuel costs.” Teralva said in December 2020, the result of the first $ 1 million home. Recorded and sold 1.59 hectares of real estate on 190 The Weir Road for $ 1.52 million. The vendor built the house in 2014 after paying $ 165,000 for the property in October 2012. There are four suburbs with sales of over $ 900,000, three of which have been generated since May.

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Home prices in Teralba double in 10 months | Newcastle Herald

Source link Home prices in Teralba double in 10 months | Newcastle Herald

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