NSW Can we start a Newcastle thread

Discussion in 'Where to Buy' started by Brad81, 20th Jun, 2015.

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  1. tomlemke

    tomlemke Well-Known Member Business Member

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    Windales median online is fairly deceiving i have seen a few 3bd going for around the 330k mark with a 5 % yield i don't think its worth the hassle! My brother inlaw has a p.m business in newcastle and
    was just telling me the other day about the quality that shows up for opens. He took over from another agency after the house had been trashed, i tried to buy in gateshead on the Whitebridge side around a year ago but went to qld instead! i think you'd be much better off buying something in Charlestown or belmont for an extra 100k
     
  2. lightbulbmoment

    lightbulbmoment Well-Known Member

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    Lots of demand for development blocks in Newcastle as Ive seen lately


    Wanted to get one at tighes hill on the weekend, lots of people at the auction and went for more that I thought.
     
  3. Biz

    Biz Well-Known Member

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    Windale is an awful thing. They have sold off some of the public housing but even when they have sold off all that is planned it will still be 60% public housing. Shazz, Dazza and their staffy X are there to stay.
     
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  4. Xjas

    Xjas Active Member

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    Charlestown has been doing well for a while, Belmont has really only started to pick up recently but there are some areas of Belmont that aren't much better than Windale, Belmont South in particular has some really rough areas. Noticed Caves beach has really started moving lately too, a friend was at a first open there a few weekends ago and he reckons there was about 40 people through.
     
  5. tomlemke

    tomlemke Well-Known Member Business Member

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    Plenty of spending happening in Belmont tho the areas deffintly gentrifying! Yeah caves beach has gotten really expensive I think it's just to far from the city tho. What suburb are you in xjs?
     
  6. Michael_X

    Michael_X Mortgage Broker Business Member

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    Windale could be the Mount Druitt/Logan of Newcastle.

    It's moved quite a bit in the past 12-18 months already. Neighboring suburb of Gateshead has done quite well too. Purchased there in 2013 and have been very happy with the capital growth and rental return.

    Cheers,
    Michael
     
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  7. Ellis

    Ellis Member

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    I like Belmont and Belmont North, near the lake and the beach. Units and money being put into the area and a Bunnings is there now too. I've been advised against Windale for tenant reasons.
     
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  8. Propertunity

    Propertunity Well-Known Member

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    Gateshead is sometimes referred to (by agents selling there) as South Charlestown. (of course there is no such place - although there is a South Charlestown Public School). It has a more exclusive ring to it. :)
     
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  9. Biz

    Biz Well-Known Member

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    Realistically buying anywhere in Sydney/Newcastle/Central Coast you would be ahead now.

    I'll give Windale some credit though, the area is nice and "hilly" it almost reminds me a bit of Busby in south west Sydney. If that wasn't such a houso area it would actually be a nice place to live form a landscape perspective.
     
  10. inertia

    inertia Well-Known Member

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    The surrounding hills have mostly been renamed and developed (almost ironic that they built Tingara Heights as a swanky suburb, adjacent to the biggest houso suburb...)

    I like Mayfield, but the prices are getting a bit high for my current buy-in. If you can get something decent in Georgetown, Islington, Waratah, Broadmeadow, North Lambton... maybe an apartment in Charlestown (aka the Chatswood of the North).

    There are options, but given the current economy (a lot of people getting put off in the mines in the Hunter), and segments of unemployment (I think Newcastle has one of the highest youth unemployment rates) - I am looking at more conservative locations than speculative.

    inertia.
     
  11. Xjas

    Xjas Active Member

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    I agree Caves is a long way from town, I think the current activity there is more a result of Sydney prices as its a bit of a Sydney weekender type of suburb. We currently live in Pelican but will move to a house we already own in Caves in about 18 months.
    The only problem I can see with Belmont, and the whole lower eastern end of Lake Macquarie is the lack of employment locally, other than a few small businesses and retail there's not much there, a little bit of industrial at Red Head and Gateshead but most people like me have to travel for work.
    That and Lake Mac city council seems to be ramping up its conditions and restrictions on flood prone land which covers some of Belmont, a lot of Belmont south, Valentine, Marks Point, Pelican and Blacksmiths.
     
  12. tomlemke

    tomlemke Well-Known Member Business Member

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    I wonder if all the flood restrictions will stop any decent gains from happening! Your right about jobs most of the people from those areas either grew up there or love the lifestyle. My partners parents live at blacksmiths and her brother just bought a place on the water at marks point so I'm fairly familiar with all the flood restrictions. Hopefully for them Lake maquarie council realises thats its not going to be the end of the world by 2100.
     
  13. Xjas

    Xjas Active Member

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    Its hard say what effect the flood restrictions will have but when you look at Swansea I think the gentrification is happening there a lot slower than it otherwise would have had it not flooded in the Pasha Bulk storms, part of that is council restrictions and part is public perceptions. A lot of the other areas that are under the flood map aren't really considered by locals to be flood areas yet but the more council pushes it the more people will believe it.
     
  14. Brad81

    Brad81 Active Member

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    where can you obtain flod plain maps for NSW?
     
  15. Justin_Z

    Justin_Z Mortgage Broker Business Member

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    Look at the local council the area is part of. Their website usually have flood maps if the area is flood prone/flooded before.
     
  16. Ellis

    Ellis Member

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    Hi, I'd like to know how people feel about Newcastle's potential if Sydney slows.
     
  17. drg86

    drg86 Well-Known Member

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    Plenty of potential to be seen. There was just a big write up in paper about the investment for the area in the NSW budget. The city is changing since the heavy rail was cut and NCC have invested heavily in changing the coastline.
     
  18. larrylarry

    larrylarry Well-Known Member

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  19. tomlemke

    tomlemke Well-Known Member Business Member

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  20. larrylarry

    larrylarry Well-Known Member

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    Not concerned with flood?
     

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