NSW Can we start a Newcastle thread

Yes great to see. Most people see this as a good thing for the city. The comments on the article are relatively tame so far. I would love to own in Wickham, growth has been insane in recent years.

 

Basically from Warners Bay to Mayfield to the coast.

Finished one (rezoning) so need something new. Going to build something for a change. My business partner is designing it.

 

yeah totally agree most of the cbd is heritage listed so makes it a nightmare to develop anything
there are only 44 houses in wickham and stock is held pretty tight so if you can get something
with land you will see pretty good c.g long term

 

yeah we bought 2013 original 1890 terrace now worth double what we paid for it

 

I was planning to sell my PPOR in North Lambton this coming spring/summer in preparation for moving out of the area next year.

I had a few agents come around to give me an appraisal and they're saying that they can't see demand getting much stronger than it is now so recommending I list now and one already has a buyer they would like to bring around next week. I thought it was just agent hype to get their sales sooner rather than later but I just found that the Heron Todd White property clock for June is also saying Newcastle is at it's peak.

What's everyone's opinions on the best time to sell? Should I entertain this potential buyer next week or wait a few more months (during which time I was planning to paint internally and replace the carpet)?

 

I would take a HTW property clock with a good pinch of salt. No-one can pick the peak of the market until you look back and see prices have come off. IMO, Newcastle prices are a long way from falling or even leveling out.

Spring. But that does not mean you won't get a good price from a motivated buyer in Winter.

 

I would wait till spring, If you don't need to sell right now. More people at opens then in my observations = more competition and possibly a better price. Do the paint and carpet (Masters are doing free install right now) it may make the buyer more emotionally attracted to it.

 

Thanks guys, that was my thinking as well. I think that Newcastle still has some steam left and I would probably get a better price by offering to more buyers. Also, if I sell now I don't know where I would live!

But I might name a high price to this potential buyer and try my luck. Apparently she's moving to the area after just selling her PPOR in Sydney, so she's cashed up and used to high prices

 

I was just looking at areas in Newy that might give me better sleep at night (Yes, I'm jumping on the band wagon). There's an article on flood areas...See http://www.theherald.com.au/story/497137/newcastles-most-flood-prone-suburbs/ not sure if anything has changed. Would love some comments from those with local knowledge.

High Flood Risk – H
Medium Flood Risk – M
Adamstown (M)
Bar Beach (M)
Beresfield and Tarro
Birmingham Gardens (M)
Black Hill
Broadmeadow
Callaghan
Carrington
Cooks Hill (M)
Elermore Vale (M)
Fletcher
Georgetown (M)
Hamilton and Hamilton North (H)
Hamilton South (M)
Hexham (H)
Islington (M)
Jesmond (M)
Kooragang Island
Kotara (M)
Lambton
Lenaghan
Maryland
Mayfield (M)
Merewether (M)
Minmi
New Lambton (H)
Newcastle (city centre)
Rankin Park
Sandgate
Shortland
Stockton
The Hill
The Junction (M)
Tighes Hill
Wallsend (M)
Warabrook
Waratah
Wickham (H)
Maryville (H)

 

@larrylarry You're mostly right with that data however it all depends on the address as each property will be different. You can't write off a suburb or postcode completely.

There are hills in most of those suburbs. It is generally flat from the city out to Mayfield between the river and Kotara.

http://www.newcastle.nsw.gov.au/environment/flooding_and_waterways/living_with_floods

Google maps and street view will give you a good indication to start with.

 

Thanks @drg86 would it be easy to know if I do a drive around ? Are there flood zone signs?

 

Nope. And NCC is painful. LMCC have them all online. Makes it a lot easier.

I'm in Carrington which is very low lying. But I'm in the entre of the Island and haven't been flooded despite some serious storms. 200m down the street very different.

 

Would love to meet you guys when I get to Newy. I've been there for client meetings before but not familiar with the area at all.

 

Driving around will give you a good idea. There isn't flood signs that I'm aware of.

 

my family and I will do a day trip to newy this Friday 10/7. I hope to see some properties.

 

Drove through Newcastle City last week, dead depressing is how I would describe it.
Walked up near the lighthouse to the beach which is nice but going up the main Street it seems like Detroit .

I must say as a student at Newcastle University I drove Taxis in 1989 /1990 and the place was pumping back then, even after the earthquake.
My takings on a Friday night were $400 plus and that was over 25 years ago , i doubt taxis there even take that now.

Having said that I do like the Waratah , Birmingham Gardens areas .

I know there has been a few articles about crime in Newcastle but I can assure you even in 1990 Newcastle was a rough type of place.
I quickly learned to ask to see the money first, lol this was to nearly every customer on the nightshift lol.
I was robbed twice in the year 1990 but i really enjoyed driving cabs there, even as i drove through Newcastle last week the first time in years, it all came back to me as i scanned the sidewalks.
I drove through with a friend on this windy afternoon and it was very eerie, hardly any cars on the road and many unemployed people hanging outside the pubs.
He was not impressed with Newcastle and is a Sydney boy.
"Looks very rough place so depressing he said.

"This is where i got a knife to my throat when i was driving a cab" i said to him excitedly pointing to the laneway of Hunter street.

Of course nowadays i could afford to buy 2 or 3 cabs up that way rather than work for someone.I do miss those days.

Mayfield back then was full of black smoke.Hated to breathe that in .
Islington was full of bikie type characters.
Hamilton was predomitaly italian people back then.
Stockon had a very very bad reputation.



i think the prices will rise there, only thing im concerned about was reports that Newcastle University was building accomodation and a Campus in the City area and an over supply of student accomodation.
I still have doubts about Windale , i did go there last week and in my opinion it seems to have not improved from when i knew it in 1990,mind you i had more problems with people running without paying in places like Merewether rather than Windale.

Overlooked areas are Belmont and Charlestown.
I stopped off at Charlestown on the way back to Sydney, i admit i havent seen much change,but i think this area has potential particulsrly with families.

I remember the very big homes down at Eleebana, and Warners Bay.
Yeah i think Newcastle has potential just they are lagging behind in development.
One thing i noticed was a lot of immigration to the area.
25 years ago i never hardly saw any Asians except around the University areas.
Nowadays there are a lot migrating and i noticed African people so certainly prices should rise as more immigration arrives.
Im not sure where the African people live but it can only help house prices.

Recently they closed the Newcastle CBD railway line which i think was a good thing.
They need development badly unfortanetely they have a lot of greenies there refusing to move with modern times.
I miss Newcastle, well the Newcastle of 25 years ago anyway.

As for buying in Newcastle City , i cant see any potential for the City area as theres no shopping centres , and most Govt offices are in the Suburbs.
The City seems to be overpriced example 1 bedroom unit 450k , who is going to rent it out?
Theres no railway station in the City anymore, no shopping centres, so absurd price to pay unless your waiting for it to develop.
There used to be a David Jones in the City that seems to have gone.
I think personally its better to stick with the suburbs.

 

The flood map is here: http://www.newcastle.nsw.gov.au/environment/flooding_and_waterways/living_with_floods

It doesn't show you street names or anything but if you know roughly where the street is you can get a good idea. Best thing is to request contracts for the properties you are interested in and the section 149 will tell you if it is effected. After a few weeks of research and looking through contracts you quickly start to learn where all the risky spots are.

 

Yes, S149 is useful. I won't be see that many places so I am going to narrow it down to Mayfield generally, Waratah and Lambton. @Darlinghurst Boy thanks for your post too. It's a helpful observation. I guess the vibes can be differ in different burbs. I will report when I return on Friday evening.

 

That's a very large area.

 

Yes it is a large area. So your best bet is to look west from Mayfield if flood is you major concern. I personally would buy as close to the city and beaches as I could.

@Darlinghurst Boy Yes I'd agree with your observations on Hunter St and that area of the city being dead. It is better than a couple of years ago, it got real bad, so is on the up, every few months seems to be a few more multi million developments going ahead. There is a city shopping centre in Newcastle west called Market Town. Has recently been developed too. In my observation people hold other priorities over how close a major shopping complex is, they like Cafes, CBD and Coast. The vibe that was missing from Hunter St can be found in Darby St and along the bathers way on a nice day. Once this rail is out of the way the 'new' vibe that Honeysuckle presents should flow back over to the dead parts of Newcastle. Can't really say only the burbs have potential when Newcastle West/Wickham has doubled in 2 years.