Population growth can be a double-edged sword for property investors.

On one hand, if you have increased demand without increased supply, you’ve found a gold mine. Rents and house values go up hand-in-hand as more and more people want to move into the area. However, if developers create housing anticipating a demand that doesn’t quite come, you can find yourself buying in an area that’s oversaturated.

Either way, knowing which suburbs in Newcastle are expected to grow is an important piece of information for property investors.

Newcastle’s population growth (2021-2046)

Looking at the city as a whole, Newcastle’s population is expected to grow more than 20% in the 25 years from 2021 (when we last had a census) to 2046. This is an increase of almost 36,000 people over that time.

Property is likely to be in high demand, but where are the new residents likely to live? Here are Newcastle’s three areas with the highest projected population growth:

Broadmeadow and Hamilton North

Leave Newcastle for a couple of decades and the Broadmeadow region might be completely unrecognisable. With a population of 2,799 in 1,240 dwellings back in 2021, the Broadmeadow Precinct plans to build 20,000 homes and increase the population to around 40,000 people within 30 years.

As well as a huge number of homes, the plans include a world-class sports precinct, a new multi-purpose arena, an extension to the light rail line and a new town centre.

The excitement of all these changes is sure to bring people to the area but with so many units being built there’s a big question about how much financial growth investors might see. People who own family homes in Broadmeadow or neighbouring suburbs may benefit more.

Newcastle (including Newcastle East and Newcastle West)

The next area with the highest projected growth is around the CBD. By 2046, there’s expected to be an extra 8,938 residents (taking the population from 6,361 to 15,299) at an annual growth of 3.57%.

There are two areas of major development – the high rises in Newcastle West and the redevelopment of the mall in Newcastle East.

Hunter Street Mall is expected to be a busy area for construction over the next few years. Iris Capital owns the southern stretch from Perkins Street to Newcomen Street and has lodged plans to knock it down and build it back up, block by block. The first stage is already complete, with apartment blocks, the QT hotel and a number of small shops already operating.

Demolition has already started on the neighbouring block and once the apartment blocks are built here, work will continue east.

DAs have also been made to redevelop buildings on the northern side but no dates have been set for this work.

Fletcher and Minmi

With a population of 8,676 in 2021, Fletcher and Minmi are expected to grow by 2.3% over the next 25 years, taking the area up to 15,332 residents by 2046.

Some of the changes to allow this are already in place, with an 858-low residential subdivision in the planning stages for Minmi.

At the moment, these two suburbs offer some of the most affordable housing options in Newcastle LGA, making it an area already of interest to investors.

Other high growth suburbs in Newcastle

• Wallsend is expected to have a growth of 3,313 residents (0.89% a per year) by 2046
• Hamilton is expected to have a growth of 2,333 residents (1.68% a per year) by 2046
• Elermore Vale/Rankin Park is expected to have a growth of 2,259 residents (1.07% a per year) by 2046
• Mayfield/Mayfield East is expected to have a growth of 1,280 residents (0.42% a per year) by 2046
• Georgetown/Waratah is expected to have a growth of 1,193 residents (0.62% a per year) by 2046