The post-budget guide to commercial property investing

Boolaroo

POSTAL CODE: NSW, 2284
HOUSE

A steady increase in median property prices over a five-year period in the suburb translates to a 34.11% capital gain.

It also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $1,012,500

The augmented property values in the suburb are trailing behind the territorial average of 6.44% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $700.

Home owners selling their properties and realtors in BOOLAROO usually have to wait an average of 41.3 days days before their assets are lifted off the market.

The NSW suburb ranks 409th on the list of best yielding suburbs for rental properties in NSW, posting a 3.6% return.

It also places places 608th in Australia based on median property value growth during the quarter.

Surburb overview

Boolaroo is a residential suburb in the City of Lake Macquarie, NSW, with postcode 2284, situated near the northern shore of Lake Macquarie between Speers Point, Argenton and Teralba. The suburb is about 16 kilometres west of Newcastle’s central business district, with Main Road and nearby Lake Road providing connections towards Newcastle, Cardiff and Glendale.

The 2021 Census recorded about 1,400 residents in Boolaroo, with the suburb containing established housing alongside newer residential development. Separate houses make up much of the local housing stock, while former industrial land has contributed to changes in land use in parts of the suburb.

Boolaroo does not have an operating passenger railway station, with nearby Cockle Creek and Cardiff stations providing rail connections towards Newcastle, the Central Coast and Sydney. Bus services operate through Boolaroo and surrounding suburbs, providing connections with Glendale, Cardiff, Speers Point and other Lake Macquarie centres.

Boolaroo Public School provides primary education in the suburb, while secondary schools and additional educational facilities are available in nearby Glendale, Cardiff, and surrounding areas.

Local shops and businesses provide access to some everyday goods and services, while the nearby Glendale commercial precinct contains supermarkets and a broader range of retail facilities.

Medical centres, pharmacies and allied healthcare providers operate in Boolaroo and surrounding suburbs, with larger hospitals and specialist facilities available elsewhere in Lake Macquarie and Newcastle.

Boolaroo lies close to the northern shoreline of Lake Macquarie, with neighbouring Speers Point providing direct access to the waterfront. Speers Point Park features extensive open space, sports areas, picnic facilities, and playgrounds beside the lake.

The Lake Macquarie Variety Playground within the park provides accessible play facilities, while the surrounding foreshore supports walking, running and cycling. Nearby, Lake Macquarie City Art Gallery at Booragul presents exhibitions and cultural programs within a lakeside setting.

The shared pathway network around northern Lake Macquarie connects several nearby communities and provides additional opportunities for cycling and walking.

Local parks and sporting facilities in Boolaroo complement the larger recreation areas available at Speers Point and around the northern lake foreshore.

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