Speers Point was settled in 1828, and its main industry was coal mining from 1843 until 2003. Early transport in the area included steam trams (from 1912 to 1930), a rowing boat ferry service that operated across Cockle Creek in 1920 (before a footbridge was built in 1928), and bus services in the 1930s.
Since 1888, the suburb’s central community hub has been Speers Point Park. The grassy, lake-fronting park is home to a playground, BBQ and picnic facilities and a leash-free dog exercise area, with an adjacent swimming centre, jetty and playing fields for several local sporting teams. The Lake Macquarie City Farmers Market is also held at the park on the second and fourth Saturday of each month.
One of the most popular aspects of Speers Point is the shared walking and cycle track, which stretches around the foreshore through nearby Warners Bay.