Hunter Renters Spared Price Hikes

By MATT JOHNSTON

Figures from Housing NSW show the Hunter lags behind the rest of the state in rent increases. Since the start of 2015, rent has risen across the state at an average of 15%. While Sydney saw the greatest increase at 40%, the Hunter only saw a rise of 5%.

The cause of the sluggish growth is being put down to the number of investors providing rental properties in the region. According to Wayne Stewart from Century 21, a "steady supply of new stock to the market, which has kept rising rents to a minimum".

 Wayne says this is because "Newcastle has been the focus of investment for probably the last three years". As a result, new rental properties are coming onto the market every week, meaning supply more than meets demand.

"There's more choice for tenants coming into the marketplace, and that should stay that way for a while because Newcastle and the Hunter are still very strong from an investment point of view."

While this has all been good news for renters, investors might be less thrilled. Rental property vacancy is at 4% across the Hunter, which is slightly above the 'normal' rate of 2-3%. Wayne says investors "should do your research on what are the areas with the lowest vacancy rates to make sure you've got some strong growth and consistency of rent in your investment property".

www.dynamicbusiness.com.au

William Arnott's Iconic Cooks Hill manor on the market

BY JARROD MELMETH

Arnotts is a brand we all know and love, and the Newcastle family home where it all began is on the market.

'Leslieville', the sandstone Victorian manor in Cooks Hill was built in the 1870's for the biscuit company founder, William Arnott and his family.

The home features a grand staircase, six bedrooms, eight fireplaces, and has been carefully restored by the current owners.

Selling Agent Rob O'Brien said the iconic house has an interesting history.

"The original William Arnott's Steam Biscuits Factory which stood adjacent to 'Leslieville is long gone, but this iconic family home with unique Australian Heritage saw the beginning of the biscuit company that grew to become an icon.

"It's easy to imagine the echoes of music recitals or a formal dinner party as the Arnott family welcomed members of the growing family and guests from far and wide," Mr O'Brien said.

The Arnotts Biscuit company began as a small bakery opened on Hunter Street in Newcastle in 1865, where locals and crews of ships that docked at the ports, ate the famous bread, pies and biscuits.

The Newcastle-born biscuits are now available in more than 40 countries around the world.

'Leslieville' is currently on the market via Expressions of Interest.

63 Union Street Cooks Hill. The former home of William Arnott.