The Amato Property Blog
Suburb snapshot: cooks hill
Cooks Hill, nestled within the heart of Newcastle, stands as a vibrant testament to the blend of historical charm and contemporary lifestyle.
This suburb, with its leafy streets and rich cultural tapestry, offers a unique living experience that attracts a diverse mix of residents, from young professionals to creative types and families.
Renowned for its artistic flair, Cooks Hill is underpinned by a thriving cafe culture, boutique shopping, and a strong sense of community. The suburb’s architecture is a mix of heritage terraces, modern apartments, and quaint cottages, offering a visual narrative of its evolution from a coal mining town to a cultural hub. Its proximity to Newcastle’s CBD, stunning beaches, and the famous Darby Street, with its eclectic mix of eateries and galleries, encapsulates the essence of urban living with a laid-back vibe.
Education & Community Life
While Cooks Hill itself is more known for its lifestyle rather than educational institutions, it benefits from close proximity to several reputable schools in surrounding areas, catering to a range of educational needs. The community vibe is palpable in local events, markets, and festivals that bring residents together, celebrating the suburb’s rich heritage and vibrant present. Educational facilities in the area include:
Newcastle Community Preschool
Cooks Hill Preschool
The Junction Public School
Newcastle High School
Newcastle Grammer School
Cafes, Bars, Restaurants, and Public Spaces
Cooks Hill is a haven for foodies and social butterflies, boasting some of Newcastle’s best cafes, restaurants, and bars. Darby Street, in particular, is a culinary hotspot, offering a variety of dining options that reflect the suburb’s diverse cultural influences. Public spaces such as the Centennial Park provide green retreats amidst the urban environment, offering spots for relaxation, picnics, and leisure activities. Checkout these spots:
Property Market Guide
The real estate landscape in Cooks Hill is as diverse as its population, with a mix of historic homes, modern apartments, and everything in between. Detached house account for approx. 12% of the properties while we more commonly see units at 64% and semi-detached properties at 24%.
The demand for property here is consistently high, driven by the suburb’s desirable lifestyle, proximity to key amenities, and its unique character. Property prices reflect the suburb’s popularity, with a competitive market that sees significant interest from both buyers and renters alike. The current median list price for houses sits at $1,501,050 (Jan 2024). Showing a steady increase from October 2023 when we saw median prices dip to $1,480,525 after a peak of $1,602, 500 in September 2023. Units have remained stable $825,000 (Jan 2024).
Investors will find the rental market equally compelling, with a median lease price now at $749, incrementally up from $708 12 months ago. The rental yield sits at 2.6%, combined with a low vacancy rate of 2.09% – down from 2.4% one month ago – signalling a strong demand for rental properties and a potentially competitive market for renters.
Market Dynamics
Cooks Hill enjoys a robust property market, characterised by a strong demand that often exceeds supply. This dynamic ensures property values in the suburb remain buoyant, making it an attractive area for investors and homebuyers seeking long-term growth. The rental market is equally vigorous, catering to the suburb’s transient and permanent populations.
The average days on market (DoM) for properties in Cooks Hill is 48 days, indicating a market where properties are selling at a moderate pace. The current inventory level of 3.3 months suggests a tight market that may reduce the opportunity for negotiation.
Financial Considerations
Investing in Cooks Hill can be seen as a premium choice, given its property prices relative to the broader Newcastle area. However, the suburb’s appeal, including its lifestyle, location, and growth potential, justify the investment. Financial considerations should include potential for capital growth and rental yields, especially for properties with unique attributes or proximity to key attractions. Property tenure data indicates a relatively even split between owner-occupiers (44%) and renters (52%).
Investment Potential
Cooks Hill represents a solid investment opportunity, with its appeal enduring across market cycles. Its blend of cultural depth, lifestyle amenities, and architectural diversity attracts a wide range of tenants and buyers. This diversity underpins the investment potential. Properties in Cooks Hill are not just homes but investments in a lifestyle that continues to attract interest far and wide.
Final Thoughts
Cooks Hill is more than just a suburb; it’s a lifestyle choice for those who value culture, community, and connectivity. Its unique blend of historical charm and modern urban living makes it one of Newcastle’s most coveted addresses. For potential residents and investors, Cooks Hill offers not just a place to live, but a place to thrive amidst a vibrant community atmosphere.
Property Spotlight!
72 Parkway Avenue, Cooks Hill, NSW 2300
Cooks Hill Retreat
Luxury and style at 72 Parkway Avenue, from the vaulted ceiling to the northern aspect and private inground pool. Anideal coastal home for teh new owners
Sold (Feb 14 2024): $3,550,000
Luxury and style in Cooks Hill
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Disclaimer
Amato Property, together with their directors, officers, employees and agents have used their best endeavours to ensure the information passed on in this document is accurate. However, you must make your own enquiries in relation to the information contained in this document and seek advice from your financial advisor, broker or accountant to ascertain its application to your circumstances.
Tony Amato
Tony purchased his first investment property in the early 90's in an inner city suburb of Sydney. He enjoyed a successful career in sales and marketing within the pharmaceutical industry where he was able to grow as a communicator and negotiator. His passion for property is matched by his wife, Sarah's, and together they have spent the last two decades buying, renovating and selling properties. His passion for property and serving others culminated in the founding of Amato Property, a buyers agency that treats its clients like family. With a history in real estate, sales, negotiating and small business, Tony has been able to apply his experience to deliver a truly unique buyers experience.
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