Charlestown suburb profile
Charlestown is a bustling suburb located in the Lake Macquarie region of New South Wales, approximately 10km southwest of Newcastle's CBD. Known for its vibrant commercial hub, Charlestown Square, the largest shopping centre in the region, it offers a wide array of retail, dining, and entertainment options. The suburb is characterized by its mix of residential areas, including family homes and modern apartments, catering to diverse lifestyles. With its proximity to beautiful beaches, parks, and excellent schools, Charlestown is a popular choice for families and professionals seeking a balanced lifestyle with urban conveniences and natural attractions.
Charlestown property market performance
Current median dwelling price$787,500Past 3 months
Property growth+3.7%Past 12 months
Charlestown’s property market has experienced modest growth over the past 12 months, with house values increasing by 2.8% and unit values by 2.4%. The median house price over the past three months has averaged $910,000, while units have averaged $608,500, indicating steady demand in the area.
Sales activity has been robust, with 55 houses and 24 units sold in the past three months. Houses are selling relatively quickly, with a median of 27 days on the market, compared to 34 days for units, suggesting a slightly stronger demand for houses.
The rental market in Charlestown has seen significant increases over the last 12 months, with house rents rising by 12.1% and unit rents by 10.0%, reflecting a strong demand for rental properties in the suburb.
Houses | Units | |
---|---|---|
Median price Past 3 months | $975K | $600K |
Change in value Past 12 months | 3.6% | 3.7% |
Sold Past 3 months | 49 | 14 |
Median days on market Past 12 months | 48 | 68 |
Average rent Past 12 months | $675 | $520 |
Change in rent Past 12 months | 12.5% | 8.3% |
5 year median price trend for houses and units
Charlestown demographics
Charlestown, located in the Hunter Region of New South Wales, is a bustling suburb known for its family-friendly environment and convenient amenities. With a population of 13,601 and a median age of 38, Charlestown attracts a diverse mix of families, professionals, and retirees. The suburb's proximity to Newcastle and its comprehensive shopping and recreational facilities make it a popular choice for those seeking a balanced lifestyle.
The suburb's housing market is characterized by a high rate of home ownership, with 35.2% of properties owned outright and 38.1% owned with a mortgage. This indicates a stable community with many long-term residents. The rental market, comprising 26.7% of properties, offers options for those seeking flexibility, including young professionals and families transitioning into home ownership.
Family life is a significant aspect of Charlestown, with 42.5% of households being couple families with children and 39.0% being couple families without children. The presence of one-parent families, making up 17.5% of households, adds to the suburb's diverse family dynamics. Charlestown's community-oriented atmosphere, combined with its accessibility to schools, parks, and shopping centers, makes it an attractive location for families and individuals alike.
Charlestown infrastructure, key developments and investment opportunities
Charlestown is undergoing significant developments that are likely to impact its property market. The ongoing expansion and renovation of Charlestown Square, the largest shopping center in the Hunter Region, continues to enhance the suburb's retail and entertainment offerings, potentially boosting property values in the surrounding areas. Additionally, the recent upgrade of the Charlestown Swim Centre has improved local recreational facilities, making the area more attractive to families and fitness enthusiasts.
Infrastructure improvements are also noteworthy, with the completion of road upgrades along the Pacific Highway improving traffic flow and connectivity. The Charlestown Library and Cultural Centre serves as a new community hub, offering educational resources and cultural events. These developments, combined with Charlestown's strategic location approximately 10 kilometers from Newcastle's CBD and its proximity to beaches and the Glenrock State Conservation Area, continue to enhance the suburb's appeal for both residents and investors.
Charlestown rental market trends
The rental market in Charlestown has experienced notable growth, with house rents increasing by 12.1% over the past year to $650 per week, while unit rents have risen 10% to $550 per week. With its strategic location and ongoing development, Charlestown continues to attract both renters and investors seeking promising returns in a vibrant community.
Suburbs near Charlestown
Some popular suburbs near Charlestown include:
How does Charlestown compare to nearby suburbs?
- Median house prices: Charlestown’s median house price is 2.8% higher than Kotara’s.
- House price growth: Over the past 12 months, house prices in Charlestown have grown 0.8% higher than in Kotara.
- Unit price growth: Property prices in nearby New Lambton have risen 6.1% more than in Charlestown over the past year.
- Selling speed for houses: Properties in Charlestown are selling 20.0% faster than in New Lambton.
- Selling speed for units: Properties in nearby New Lambton are selling 58.8% faster than in Charlestown.