Reaching for the Sky

Charlestown’s Business District Draft Plan is on exhibition clearly confirming future growth is on Lake Macquarie City Council’s radar. The plan supports extensive growth through a mix of High Rise development consisting of Retail, Commercial & Residential. It will establish the opportunity for an Eat Street district currently lacking from previous plans. Full details can be viewed on www.lakemac.com.au.

GPT’s massive redevelopment continues with new levels now open with improved access to carparks and allowing for reopening of side streets and some sanity to return.
We currently are enjoying strong buyer enquiry for properties from out of area investors looking to establish them in the area. Charlestown region properties offer good value especially when you allow for the very low vacancy rates & rent achieved.

Also we are receiving regular enquiry from buyers looking to downsize their current property without sacrificing features or comforts in the new one; generous villas & apartments are in particular demand. While their existing property is being snapped up by families looking for the backyard.

Game on Charlestown

Sky Central Charlestown is soon to be completed with the builders busily fitting out the Apartments in both Towers. We are currently registering Tenant enquiries for the apartments as they come available. The multi-level Shopping Centre with Commercial Offices under the apartments are expected to be completed by December 2010 in time for the Christmas shopping season.
Mean while the redevelopment at Charlestown Square will soon see some form of traffic sanity with the reopening of Pearson & Frederick Streets. This will allow Shoppers & Businesses alike impacted by the roadworks to return to some form of normality.
Charlestown Central Business District will continue to go through extensive growth as more projects come online although the impact of each currently slatted for commencement are not of a scale or positioned that we should not see Pedestrian & Vehicle movement so extensively impacted as they have been during the past few months.

Is it the right time to Buy?

As an Real Estate Agent I am often asked that very question, A Consumer Sentiment Index produced by Westpac and the Melbourne Institute reference a ‘time to buy a dwelling index’, this index fell by 15.4% from 104.3 points in April 2010 to 88.2 points in May. Accepting that property values have increased by 12.5% over the year to March 2010 and standard variable interest rates have also increased from last September to their current level of 7.4% (by 1.6%), while it would be fair to assume many buyers may for now give up on their quest but remember the undersupply remains. The market adjusts very quickly as these statistics were gathered over a period of time but; the real market, that is the market now will be just statistics in time. One thing is for certain buyers currently have the ability to negotiate which wasn't there a few months ago. If the right property is there for the taking and you have the need, many would agree the time is right to buy.

Focused on Charlestown

Charlestown region in NSW offers a wide selection of properties at affordable prices while enjoying all the benefits of Coastal Living with Lake Macquarie, natural bushland and a selection of beaches nearby.

GPT Trust is investing over $400 million into Charlestown Square, growing their retail area significantly as well as employment opportunities that follow as the project matures over the next couple of years. Another Charlestown development, Sky Central is nearing completion with the scaffolding being removed as I write, consisting a twin eight storey building with pedestrian bridge to connect them over the Pacific Highway. Sky Central offers a mixture of Commercial, Retail & Apartments above.

It really has a sound future with the right work / life balance for today's needs.