Corlette tops list of 2017 Newcastle property hotspots

Corlette takes the equal top spot as Newcastle's 2016/2017 hotspot for investing in units with an expected increase of four percent over the next 12 months.

The median price at Corlette currently sits at $489,500, according to APM, in their forecast developed by APM senior economist, Dr Andrew Wilson.

An example would be a three bedroom unit at 8/12 Yawl Close (above) that was recently sold for $535,000, which is $45,500 more than the median price.

The Smart Investor magazine, published by Fairfax Media, ranked the hill, Toronto and Cooks Hills as other likely best hotspots.

Suburb                  Postcode       Median price         12 month forecast

Corlette                 2315             $489,500                       4%

the hill                 2300             $440,000                        4%

Toronto                 2283             $525,000                        4%

Newcastle East      2300              $1,080,000                     4%

Salamander Bay     2317             $402,500                        4%

Cooks Hill              2300             $550,000                        4%

Waratah               2298              $303,000                        4%

Wallsend               2287             $367,000                         3%

Newcastle West     2302              $467,000                        3%

Adamstown           2289              $376,250                        3%