Property Values – Newcastle
The property value of a piece of real estate is actually very reliant on factors outside of the building and lot that are actually being evaluated. One of the factors that many people do not necessarily think of, is the amount of festivals and events that are held throughout the city.
The city of Newcastle holds many cultural events and festivals every year. Some of the more popular are:
The Mattara Festival
This festival was founded in 1961, and is often considered to be the “official festival of Newcastle”. This statement can be mildly confusing, as Newcastle is very much an urban city, while the festival takes on many of the characteristics that a country fair would, such as rides, band competitions, and a parade.
This Is Not Art
This Is Not Art, is an annual new media festival that is held every year during the October long weekend. Established in 1998, the This Is Not Art festival is one of the top art festivals in the nation, and focuses on the ideas and art projects that are not included in other art festivals and shows.
The Newcastle Regional Show
This festival is held every year at the Newcastle Showground, and is made up of elements such as rides, fireworks, and wood chopping displays.
The Newcastle Jazz Festival
The Newcastle Jazz Festival is held every August, and attracts musicians and music lovers from all over the country.
The Shoot Out 24 Hour Filmmaking Festival
Established in 1999, the Shoot Out 24 Hour Filmmaking Festival was designed to bring filmmakers together to create a short film in a matter of only 24 hours.
In addition to these festivals, the city of Newcastle is known for its many sporting events, as well as its many concerts, and art exhibits. The property values in Newcastle are reflections of the many cultural events that take place throughout the city. These festivals and events create not only entertainment for the residents, but also job opportunities, in industries such as event organization and management, marketing, janitorial, culinary art, technology, and more.
The job opportunities are a huge factor for people considering moving to Newcastle. This is because people move to where the wok is. One of the biggest things that people who are moving look for is a city that provides lots of opportunities for their families. Aside from employment opportunities, educational opportunities are perhaps the second most dominant in terms of what families look for. Property values not only in Newcastle, but in other major cities that have so many job opportunities are much higher than those in cities or more suburban or rural locations where the job opportunities are few and far between.
As stated before, educational opportunities are a huge factor for people looking to move to a new city. These events are not only wonderful sources of entertainment, and job opportunities, but they also look for volunteers regularly. Volunteering is extremely important and looked highly upon by both employers and post-secondary educational institutions. In many cases, students who participate in volunteer opportunities such as events like these gain additional knowledge from their outside of the classroom learning.
For all of these reasons and more, these events are extremely important to the property values of houses both in Newcastle, and other cities. Property values are made up of many factors, and these events actually impact several of the major ones. What some people do not realize is that many of these factors are connected, meaning that these events do not just impact the factors discussed, but more, including the tourism industry, entertainment, and the diversity of the city.