NSW Can we start a Newcastle thread

Double street frontage is their friend on that one. Narrow frontage makes turning circles really hard to achieve. I prefer a 20m frontage to get decent open space.

 

Yes, rental yield isn't as high as what it used to be. Jesmond has a high population of Uni students but the recent construction of dorms on the Uni campus has created more supply.

 

What about the future potential of TANDERRA – MORISSET, NSW ?

from the attached PDF file about the development it sounds promising.

 

I must admit im skeptical now or should i say cautious about Newcastle.
I still love Newcastle but im not going to rush in like i was before back in June.
I was quite lucky the agent didnt accept my 425k offer for a house that later sold for 390k in Lorna Ave Waratah .Not high enough she says curtly to me , but thats all i could afford , about 6 weeks later she rang to say my offer had been accepted but by then i had found another IP.


Seems a lot more houses for sale in certain areas.
I love the Jesmond area, close to shopping centre etc but i also love the Islington area close to railway station and Hamilton cafes shops etc.
I think Islington would be a better Capital Gain overtime though.
I try to read the Newcastle Herald online everyday and it seems Hamilton will be the main Railway Station .


CBD Area
I wonder how they will sell out the overpricedapartments in the CBD, do you think they will?
It would be great if they could but it may take time especially if theres no shopping centre in the CBD.
Im getting constant emails from agents advertising the CBD apartments.
What kind of people are they targeting to live in the CBD apartments?
I remember the old David Jones being there in Perkins Street.
I remember Newcastle City as a busy bustling place during my years at Uni driving a night Taxi.

Just looking at my old books, i have recorded taxi takings October 6th 1989, 3pm to 4am $432.00 and that was over 25 years ago, taxi 's in Newcastle probaly wouldnt get that amount nowadays !!! Just shows how busy it was 25 years ago !!

 

I don't know what your fascination with Jesmond is about. It does have a shopping centre true, but it's tenant population is over-represented by Uni students.

Now you are on the money. Iso has done, and is likely to continue doing, better than outlying suburbs IMO.

 

I suspect it will be like every other new development - you'll pay a premium for being brand new & shiny. The developer will take the first few years of CG as their profit margin. In 15 yrs time it will be part of the 2nd hand RE stock.
The developer is a known quantity so it has at least that much in its favor.

 

Ah I see,
thanks Allan @Propertunity

 

I see the residents in Newcastle are now opposing Mosques being built.
I find they are oposing a lot of development there.

But i do agree it was bloody ridicilous to close a Train Station going into the City .

This is what i would do if i was the Premier and not receiving any brown paper bags from developers..... I would open a train station in the city... I would again open the city shopping malls with David Jones etc inside the City ... I would open all the State Government offices in the city ...i would encourage immigration ...has immigration benefited Newcastle?

 

Errr... It's a Mosque, singular, in a rural area off the Hunter Expressway. It's mainly based on ignorance and fear. It's not even in the Newcastle LGA. It's like saying Parramatta Council is opposed to development because of something that is happening in Camden. Which also happened (a pigs head was left in the grounds of a proposed Mosque).

Oh, and accusations of corruption are pretty serious, and are grounds for defamation. Just something to think about.

 

Buchanan (Kurri Kurri) to Newcastle is like Emu Plains to Sydney.

There is a bit of that, but I think it is more the pendulum swinging way out to the left in response to some pretty aggressive pressure on the right. The more recent concept presented by ... Property Council or Urban Growth, can't remember, same same... is actually quite reasonable, but still got a bit of the knee-jerk reaction.

I get that for a developer, a greenfield project is easier and gets better return, but the fact is you don't get that in an inner city environment, and Newcastle has some amazing buildings that should be getting used, and it is developers sitting on them.

yeah.... I think I am probably like most Newcastle residents these days in that I no longer care - I just want all parties to stop wasting money. Its the fig trees all over again. My preference would have been to put the heavy rail underground, but if they are going to cut it and put in light rail, then for gods sake make a comprehensive network servicing the big trouble spots - city, hospital, uni. A light rail circuit servicing those areas, with some parking stations scattered about the town centres it passes through would be awesome. But its never going to happen. A massively improved bus service would be cheaper, more effective, and responsive to changing needs.

BUT for me the biggest issue with the rail is they way they went about it. They cut it first to force the issue (always easier to beg forgiveness than ask permission...) and once it was done, realistically there was no going back. I would have preferred to see an actual, costed plan before the cut was done. It would have gotten a better price when selling off the government land at the least. Starting the work without a plan in place just seems silly to me (or was there a *secret* plan in place?!?!?!?!?!?!?!)

Not going to happen

The Gov didn't close the shopping centre, private businesses (developers) did.

What does that mean? do you mean push the Gov jobs to regional centres including Newcastle?

There's a bit of that, and it certainly has historically, but I don't think there is much targeted promotion for immigration here. We have received a few groups of refugees though.

Cheers,
Inertia.

 

Yeah, I'm pretty sure there is no evidence that the premier is accepting brown paper bags. You don't get to that level of politics being that incompetent

Cheers,
Inertia.

 

maybe @darlinghurstboy drove taxi's with the premier in newcastle and witnessed it happening.

 

That was the Property Council who released it recently, but I'm pretty sure it was an original plan that was developed a few years ago by Urban Growth. Rumours have it that Urban Growth will be releasing their plans this week, which should be interesting.

I'm with you on that one, but have also heard the costs would have been prohibitive due to the high groundwater levels and localised contamination issues. I'm just happy that its easy to walk across the rail corridor now, would be even better if there were a few more road crossings, but I guess I'll have to be patient...

 

Funny how it went full circle. Initial concepts were panned. Went through iterations of bigger buildings, people whinged, wound it back to pretty much the same as an earlier concept and it gets praise

I've heard mixed comments on cost of going underground. One of which is that the rail corridor is one of the few areas of land that is not undermined. Don't know how true that is, but going underground was dismissed before any serious costing/analysis was carried out.

I find the road crossings thing interesting. People want the rail cut to give greater access to the harbour. They want the new Wickham interchange east of Stewart Ave with the purpose of reducing obstructions to through traffic. BUT if vehicular access to the foreshore is increased, it will just create another barrier to the harbour. Personally I don't think there should be more road crossings, and people should be dissuaded from driving in there. *Hopefully* some decent public transport will solve that problem, but I wont be holding my breath.

cheers,
Inertia.

 

Was up in Newey on the weekend. Spent Saturday arvo at Merewether Surfhouse. How good is that place!

 

Yeah that's true, Newcastle East and parts of Wickham are OK, but even the Port has been undermined from the old mines around Carrington (heres a map of the city showing areas where development restrictions are in place Mine Subsidence Board - Newcastle City Area). All the new high rise buildings around the city (eg law court, Uni and the Doma site next to NIB) have had to drill down to the old mine workings (approx 70m) and then pump in grout to stabilise the site.

 

Check out Sold Price for 31/1 Forbes Street Carrington NSW 2294
Sold for $798,500.

 

Simple reason it sold for that much.
I do 30 second hill repeats on Mt Carrington 2 times a week. That place has direct views to there. An open house was held when I was doing some.

If anyone wants to add value, then let me know, and my muscular calves can help increase your sale price.

If there is one thing I have learnt from the discussions around Jesmond etc it is that correlation = causation.

 

This just popped up when i viewed the link, crystal ball would of been nice back in 2011 and how i miss those yields.

Sold Price for 45 Young Street Carrington NSW 2294

 

Was there a taxi waiting for you at the bottom of the hill?

And seriously, that's a mountain?

Cheers,
Inertia.
- who used to do hill repeats on Memorial Drive. Really should do some running again some day.