Get an edge on the competitive property market in Newcastle with a buyer’s agent.
With a history tied to coal and steel, Newcastle was once deemed the ugly stepsister of NSW regional cities. But major redevelopments coupled with the city’s enviable beachside location has seen Newcastle on the rise and in the midst of a property boom.
With the median house price in Newcastle now at $530,000, savvy home buyers are seeking an edge over their competitors. One way to steal a march on other house hunters is with a buyer’s agent, a licensed professional who can help you search for the perfect property at the best possible price.
Read on to discover how you can find an experienced and reputable buyer’s agent in Newcastle.
What to look for in a buyer's agent
When choosing a buyer’s agent it’s important to consider their qualifications, experience and knowledge of the Newcastle property market. By comparing a number of agents alongside their backgrounds and skills, you’ll be able to find the right person for the job.
What fees will I need to pay?
The cost of using a buyer’s agent in Newcastle varies according to their pricing structure. Some agents charge flat fees typically ranging from $5,000 up to around $15,000.
Others calculate their fee as a percentage of the price of the property you purchase, which is usually between 1% and 2% but can be as high as 3% in some cases. For example if you purchased a house at Newcastle’s median price of $530,000, fees could be anywhere from $5,300 (1%) to $10,600 (2%) or even up to $15,900.
Before choosing any buyer’s agent it’s important to know when you’ll need to pay those fees. While some have no upfront costs, others require you to pay an initial fee and settle the remaining balance when you buy a home.Compare average buyer's agent fees and commission rates in our detailed guide
What does a typical property cost in Newcastle?
According to data from the Domain Group, the median house price in Newcastle is $530,000. That puts Newcastle high on the list of Australia’s most expensive cities and shows the importance of finding a good buyer’s agent.
With their help navigating the property market you’ll have more bargaining power than other home buyers and can negotiate a better sales price.
These Newcastle suburbs are popular among home buyers
Median sales price: $583,000
Located just 6km from the CBD, Adamstown is home to a number of schools with strong transport links. The median sales price of $583,000 has risen 2.1% in the past 12 months.
Median sales price: $506,500
This inner-city suburb sits just to the south of the Newcastle CBD and boasts a number of historic terrace houses. The median sales price in The Hill is $506,500, a 16.4% rise in the past 12 months.
Median sales price: $1.11 million
This popular inner-city suburb can be found right at the mouth of the Hunter River and boasts a beautiful beachside location. The median sales price of $1.11 million in Newcastle East has increased 8.3% in the previous 12 months.
Median sales price: $965,000
This leafy inner-city suburb is home to a number of popular restaurants, cafes and pubs. Cooks Hill’s median sales price of $965,000 has increased 29.7% in the past year.
Median sales price: $542,000
Located 6km from the Newcastle CBD, Waratah features strong transport links, a hospital and a number of schools. The $542,000 median sales price in Waratah has increased 19.1% in the past 12 months.