The post-budget guide to commercial property investing

Carrington

POSTAL CODE: NSW, 2294
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Property investors have seen a 3.33% gain in CARRINGTON based on an increase in median home prices for the past three months.

Based on its average 5-year and quarterly capital gains CARRINGTON, 2294 saw average growth in the long term.

The NSW suburb 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 $1,007,500

Profits averaged 4.33% per annum over a 3-year period, due to an upward trend in home prices in CARRINGTON, 2294.

This means, real estate investors could earn a rental income of $740 based on current median home prices for the suburb.

The gross rental yield in CARRINGTON, 2294 is 3.82%.

An average of 4.33 real estate transactions take place per month in CARRINGTON which translates to 52 per annum.

Surburb overview

Carrington is an inner-city suburb in the City of Newcastle, NSW, with postcode 2294, situated on a peninsula between Throsby Creek and the Hunter River, north-west of Newcastle’s central business district. The suburb is about three kilometres from Newcastle’s central business district, with Cowper Street Bridge providing the principal road connection to neighbouring Wickham.

The 2021 Census recorded about 2,000 residents in Carrington, with housing comprising detached houses, terraced houses, townhouses, and other medium-density accommodation. Residential streets occupy the central parts of the suburb, while port, industrial and maritime land uses remain prominent around sections of the waterfront.

Carrington does not have a railway station, with nearby Newcastle Interchange providing passenger rail services towards the Central Coast and Sydney. Newcastle Interchange also connects with the Newcastle light rail network, while bus services provide public transport between Carrington, Wickham and central Newcastle.

Carrington Public School provides primary education in the suburb, while secondary schools and additional educational facilities are available across the surrounding inner Newcastle suburbs.

Local businesses include cafes, food outlets and neighbourhood services, while larger concentrations of supermarkets, pharmacies and shops are available at Newcastle West, Mayfield and central Newcastle. Marketown Shopping Centre at Newcastle West provides supermarkets and specialty retail, with additional commercial services available around the Newcastle city centre.

Medical practices, pharmacies and allied healthcare providers operate in surrounding suburbs, while major hospital and specialist services are available elsewhere in Newcastle.

Carrington’s location beside Throsby Creek and Newcastle Harbour provides access to waterfront environments close to the inner city. Shared walking and cycling paths around Throsby Creek connect Carrington with Maryville, Islington and other neighbouring areas.

Carrington Foreshore provides public open space and views across sections of the harbour and surrounding waterways. Nearby Islington Park features playgrounds, open space, and recreational facilities beside Throsby Creek.

Newcastle Harbour and the Honeysuckle waterfront provide additional walking and cycling areas, while Newcastle’s beaches and Bathers Way coastal walk are accessible from Carrington by road, bicycle or public transport.

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