Kurri Kurri and surrounding areas have fast become a popular option for property investors from all over the country. The completion of the Hunter Expressway in 2014 has driven development in the area, with Heddon Greta, Cliftleigh and Gillieston Heights becoming a housing-boom precinct.
The lure of relatively cheap land and large blocks combined with access to the Hunter Expressway has attracted hundreds to the Cessnock and Maitland local government areas, with Cessnock and Maitland tipped to be among the fastest growing areas in the state.
Local area developments including the $400 million expansion of Stockland Green Hills, the brand new Maitland Hospital currently being constructed at Tenambit, and the proposed redevelopment of Kurri Kurri’s Aluminium smelter land into a brand new housing and industrial estate mean this area has a big future. Maitland’s population has doubled in the past 24 years, a trend set to continue with a population of more than 104,000 forecast by 2036.
Kurri Kurri was established as a coal mining town back in 1902. It has experienced a resurgence thanks to the construction of the Hunter Expressway and has become a popular suburb to invest. Properties can still be found for purchase under $300,000 with the median house price currently sitting at $350,000. Compared to the sky rocketing prices of Newcastle, which is only a 20 minute drive from Kurri Kurri, the increased affordability, higher rental yields and high rental demand all points to this little country town being ideal for investment.
Cross over the Hunter Expressway from Kurri Kurri and you’ll find Heddon Greta, a small suburb that closely borders the Hunter Expressway and Cliftleigh. Boasting a pub, a few takeaway shops, 18 hole golf course and drive-in movie theatre, Heddon Greta is part of the Kurri Kurri to Maitland Boom Corridor. New estates such as Averys Rise and extensions to the current residential area have seen a rise both in population and house prices.
Cliftleigh is located 5 minutes from the Hunter Expressway and has recently expanded due the Cliftleigh Meadows Estate development. The master planned estate will add over 1,000 new homes to the area and is extremely popular with investors and young families alike. The estate overlooks the picturesque farmlands surrounding Testers Hollow and will offer 125 acres of parklands complete with playground equipment and barbecue areas.
Separated from Cliftleigh by Testers Hollow, Gillieston Heights is located just 5 minutes from Maitland. It boasts a school, corner shop, community centre, baseball/sports field, tennis courts, half netball/basketball court, and three playgrounds. Future development is planned for Gillieston Heights with the approval of an IGA, McDonalds, specialty shops, childcare centre and another school to be constructed in the future. The suburb has been booming for the past decade thanks to new housing estates including Saddlers Ridge, Alexander Point, Gillieston Grove, Wallace Creek and Settlers Ridge Retirement Estate. The area is very popular with families and is located within the Maitland Council LGA. Some sections enjoy elevated views of the surrounding fertile plains towards East Maitland and Swamp Creek Lagoon to the West.
It pays to speak to a local. The Ray White Kurri Kurri team have a wealth of market knowledge to help you make a sound investment decision. Whether you’re undecided on which estate to purchase in, wondering what rental income you could achieve, pondering whether to build a dual key or a duplex, we can help guide you in the right direction. We speak to tenants and buyers daily and know what they’re looking for and what sells/rents easily. We can offer a free rental and sales appraisal on your investment so you can cover both bases and have peace of mind that your investment is going to be a solid one.
Carolyn looks after all of our property sales within Kurri Kurri and surrounding areas. Carolyn can provide a free sales appraisal on your investment to give you an estimated selling price if you were to take it to market. Carolyn can also help advise you on whether it would be best to sell or keep your investment, and provide advice on floor plans, layouts and finishes.
Ryan is our dedicated Property Manager with 10 years of experience in the industry. He is extremely well versed on all regulations regarding tenancies and knows exactly what tenants are looking for and what price a property is likely to rent for. Ryan has a number of brand new investments on his rent roll including stand alone homes, duplexes and dual key. Ryan can provide a free rental appraisal on your investment, which includes an estimate of what your property would rent for in the current market along with information regarding our highly competitive rates and fees.
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