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NSW Can we start a Newcastle thread

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

  1. tomlemke

    tomlemke Well-Known Member

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    Have a read of the article @Chattyboy it summarises OTP pretty well and the comments are all pretty spot on. Still a huge shortage of apartments still in the city, lots of interest from Sydney buyers.

    Oversupply is on the horizon no ones knows when, once that happens it will take years to see any growth. If you have your heart set on buying something, i would be buying something with a view or something thats not the usual cookie cutter 1 and 2 bedder.
     
  2. Chattyboy

    Chattyboy Member

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    I have got a few IP in newcastle. It is just that despite the uni has built hundreds of students accomodation which has affected the student market, in addition the new OTP "The Grounds" right in front of the uni entrance would make the market even worse...

    any thoughts?
     
  3. larrylarry

    larrylarry Well-Known Member

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  4. Scott No Mates

    Scott No Mates Well-Known Member

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  5. samiam

    samiam Well-Known Member

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    Isn't it at north Lambton? I thought student rental market around Uni is suffering enough already. I would buy family house with a bit land as close to city as possible imo, having said that prices recently been crazy. Where are your other ips?
     
    Last edited: 11th Jan, 2017
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  6. larrylarry

    larrylarry Well-Known Member

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    Wonderful read! Thanks.
     
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  7. 10year

    10year New Member

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    Hi all, just wetting my feet in property investment so keen to hear opinions and learn something. What's the opinion of cardiff, a fair bit of industry there but gets closer to the lake, some good shopping and not too far from the bypass to get around. Thoughts?
     
  8. Chattyboy

    Chattyboy Member

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    I have bought a 2 bedder in the city, also in Jesmond and Shortland. These were like three to four years ago, unfortunately the prices haven't gone up a lot like the ones which we have got in Sydney :(

    I have got family members bough in Waratah West, and suffering from shortage of students..:(
    Fortunately,Air B&B type rental has helped a lot...
     
  9. Chattyboy

    Chattyboy Member

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    I would only go for places with a big block which could be developed in the future, such as turning into three to five townhouses or similar
     
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  10. tomlemke

    tomlemke Well-Known Member

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    You would of still had decent growth in those areas if you have bought 3-4 years ago. Probably better growth then the apartment in the city.
     
  11. tomlemke

    tomlemke Well-Known Member

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    Long term it will pick back up once there is a shortage of student accommodation again.
    I feel the market is at the peak and the amount of houses / townhouses they keep building you could be in for a long wait for growth. Thats just my prediction.
     
  12. tomlemke

    tomlemke Well-Known Member

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    I like Cardiff still good value, same with Glendale and Wallsend. They are both becoming their own little mini Cbd's
     
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  13. larrylarry

    larrylarry Well-Known Member

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  14. tomlemke

    tomlemke Well-Known Member

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    Brett Bailey is the King of over quoting, that apartment last sold for 400k in 2013. I would say it would be worth around 500k now, he's probably wanting well into the $500's. Its been on the market for 35days, i think 1 bourke st Carrington 1 Bourke Street Carrington NSW 2294 - House for Sale #123019678 - realestate.com.au has more potential he's had that one for over 300 days and that started off at around $550k.
     
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  15. larrylarry

    larrylarry Well-Known Member

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    what would 1 bourke street fetch you think? Pretty ok gain for 92A... it's unique. If the rent is $500 per week, i doubt it will sell for less than $500K. I'm now looking at other areas...mayfield is too hot.
     
  16. tomlemke

    tomlemke Well-Known Member

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    If you got 1 Bourke st for 450k to 460k I think it would be really good buying. Yeah Mayfield has been insane over the last 6 months, close to 100k growth in some parts. Mayfield hasn't double yet, the median was at 330k around 2012. It should hit 600k this year.
     
  17. tomlemke

    tomlemke Well-Known Member

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  18. Chattyboy

    Chattyboy Member

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    For the ones around Jesmond area, Not really decent growth across the 3-4 years time frame if there is only 10% increase (maximum). This means roughly about 2.5 to 3.3% growth per year.

    However, the city bedder was ok, and did slightly better with a 30% growth in 3 years. This means roughly about 10% increase per year.
     
  19. TylerJamesson

    TylerJamesson Active Member

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    Mayfield is on track to become on par with Wickham and Maryville but with better amenities and shopping. It very much has a Newtown feel to it. Cafes, pubs and restaurants popping up everywhere, 7 minutes into the CBD along with a brand new Coles shopping complex going in. Serious gentrification happening.

    Just look where the smart money is investing for growth... they have done all the due diligence for you. Coles Property arm has a vested interest to see land values in the area grow, as does Woolies property arm as the current Woolworths is being modernised and refurbished.
     
    Last edited: 26th Jan, 2017
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  20. lightbulbmoment

    lightbulbmoment Well-Known Member

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    I took a drive through tighes hill yesterday where houses are now selling for
    600k for a little box on 200sqm and you can high five your neighbour through the bedroom windows. Thats place has some cleaning up to do.

    There were multiple mattress s on the side of the road, graffiti on the side of houses, cars out the front people where working on sitting on bricks, hardly any one looks after there lawn which was waist height in many places. Lots of alternate people walking around. For a ppor i would never want to live here. But obvs people see lots of value there, its got that inner city vibe.
     
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