Georgetown

POSTAL CODE: NSW, 2298

HOUSE

UNIT

GEORGETOWN, 2298 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in NSW have risen as a whole, pulling GEORGETOWN, 2298 values up and netting property investors a capital gain of 8.96% for the past year.

Investors saw the median home price rise to $1,051,500.

Profits due to an upward trend in home prices in the suburb averaged 7.9% per annum over a 3-year period.

GEORGETOWN now ranks at the 1036th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in GEORGETOWN are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $790 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In GEORGETOWN, homes and units usually stay on listing for an average of 47.2 days.

In 2016, 43 properties were sold in GEORGETOWN during the past year, making it the 457th most active market in NSW based on total real estate transactions.

GEORGETOWN ranks 467th in NSW when it comes to estimated capital gains experienced by property investors over the past three years.

GEORGETOWN, 2298 has a capital gain of 2.16% for the past year, which is higher than average compared to its 5.97% growth within a five-year period.

With the median home price in GEORGETOWN sitting at $710,000, and the average rent at $562.5, property owners could potentially earn a 4.12% increase in gross rental yield.

Property investors have seen a -0.7% drop in GEORGETOWN based on a decrease in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that GEORGETOWN, 2298 obtained a 1.27% growth over a ten-year period. It ranks 1782nd on our list of suburbs that property investors should look into.

Surburb overview

Georgetown is an established residential suburb in the City of Newcastle, NSW, with postcode 2298, situated between Waratah, Broadmeadow, Hamilton North and Lambton. The suburb is about five kilometres west of Newcastle’s central business district, with Georgetown Road and nearby arterial roads providing connections to central Newcastle and surrounding suburbs.

The 2021 Census recorded about 2,000 residents in Georgetown, with separate houses being the predominant type of housing. Residential streets make up most of the suburb, with local shops, community facilities, and small open spaces integrated into the established neighbourhood.

Georgetown does not have a railway station; nearby Waratah and Broadmeadow stations provide access to passenger rail services. Broadmeadow Station provides connections towards Newcastle Interchange, the Central Coast and Sydney, as well as regional rail services to other parts of NSW. Bus services operate through Georgetown and neighbouring suburbs, providing connections towards Newcastle’s central business district, Waratah, Broadmeadow and other metropolitan centres.

Schools are available in Georgetown and surrounding suburbs, with additional primary and secondary education facilities in Waratah, Lambton and Hamilton. The local commercial area along Georgetown Road contains cafes, food outlets and other neighbourhood businesses, while nearby Waratah provides supermarkets, pharmacies and a broader range of everyday services.

Waratah Village is a major nearby shopping centre, with additional retail facilities available at Mayfield, Newcastle West and Kotara. Medical centres, pharmacies, dental practices and allied healthcare providers operate in Georgetown and surrounding suburbs, while John Hunter Hospital at New Lambton Heights provides major emergency and specialist services.

Local parks and playgrounds provide space for walking, play and informal outdoor recreation within and around Georgetown.

Nearby Waratah Park contains sporting fields and recreation areas, while Broadmeadow has several major sporting and entertainment facilities. McDonald Jones Stadium hosts rugby league, football, and other events, and the nearby Newcastle Entertainment Centre hosts concerts, exhibitions, and community events.

Islington Park and the Throsby Creek shared paths provide additional opportunities for walking and cycling within a short drive.

Newcastle’s beaches, harbour foreshore and Bathers Way coastal walk are also accessible by road or public transport from Georgetown.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,051,500	$710,000
Growth Report
Median Quarterly	-2.55%	-0.7%
Median 12 month	8.96%	2.16%
Median 3 years	23.71%	10.08%
Median 5 years	29.02%	5.97%
10 years average annual	7.55%	1.27%
Weekly media advert. rent	$790	$563
Time on Market	47.2 days	N/A
Gross Rental Yield Percent	3.91%	4.12%

Demographics (Median Values)*

Total Population 9498

Weekly Household Income 1174

Household Size 2.30

Average Age 36

Monthly Loan Repayment 1733

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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