Question 1

Is Speers Point a nice place to live?

Accepted Answer

Speers Point sits on the western shore of Lake Macquarie, with a long foreshore park, lakeside walkways and picnic and playground areas. Boating, fishing and weekend barbecues on the water are common, while local shops and community facilities make day-to-day life convenient. Housing ranges from weatherboard cottages and modest postwar homes to renovated waterfront properties, attracting families, downsizers and people after a quieter pace who still want ready access to the amenities of nearby Newcastle and other regional centres. Local roads link residents to larger shopping and transport hubs.

With 3,400 residents and a median age of 45, household life in Speers Point is centred on couples, and roughly three in four homes are owner-occupied while renters make up 23.1%. The suburb is the focus of a council masterplanning process for Speers Point Park, a large regional reserve with sports complexes, a swim centre, performance and exhibition space, a dog park, boat ramp, jetty and regional playspace. Transport improvements and a major hospital extension are also being progressed. Whether that mix suits you depends on what you want from a suburb.

Question 2

Is it expensive to live in Speers Point?

Accepted Answer

Buying a house in Speers Point works out to about 14.5 times a typical local annual household income at the last Census, based on a median house price of $1,330,000 and a weekly household income of $1,766 as recorded at the most recent Census. Looking at rents, $775 a week for a house would use roughly 44% of that weekly household income, while $520 a week for a unit would use about 29.5%.

On these figures, buying a house sits well above local incomes at the last Census; renting a house would take a large share of a typical local household's income, and renting a unit represents a more moderate share. Whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Speers Point a good place to invest?

Accepted Answer

If capital growth is your focus, the house side of Speers Point moved sharply in the past year. House values climbed 27.7%, a strong rise, while house rents rose 10.7%, also a strong gain but notably smaller than the price increase, so capital growth on houses outpaced rental income growth over the year. On the unit side, rents edged down 1.0%, a slight fall for unit rental income over the same period.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$1.33M	N/A
Change in value Past 12 months	27.7%	N/A
Sold Past 3 months	11	N/A
Median days on market Past 12 months	51	N/A
Average rent Past 12 months	$775	$520
Change in rent Past 12 months	10.7%	-1.0%

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