NSW Home in new castle with long term plan for investment

Discussion in 'Where to Buy' started by legolas, 22nd Oct, 2016.

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  1. Raydar

    Raydar Well-Known Member

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    Well I'd skip Mayfield then :/
    But I still love the place. It is certainly a colourful place...
     
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  2. Propertunity

    Propertunity Well-Known Member

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    North Lambton is Newcastle University student territory and the lower CG rates are a reflection of this.
    upload_2016-10-28_20-3-10.png
     
  3. tomlemke

    tomlemke Well-Known Member Business Member

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  4. legolas

    legolas Member

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  5. drg86

    drg86 Well-Known Member

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    I'd live there any day. Just an easy move in ready place. It is on the good side of North Lambton away from the Uni, it's about 100m from the boarder of Lambton anyway.

    As for crime, can happen anywhere, but I've lived in Lambton, North Lambton, Mayfield East, Waratah West, Jesmond, Birmingham Gardens and Wallsend. Out of them guess which one we got robbed at...
     
  6. Ald

    Ald Well-Known Member

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    In your case I would definitely engage Alan Fox of propertunity.

    You need somebody who knows this place really well and knows how to deal calmly, unemotionally with the real estates and blow the wind out their sails.

    Newcastle is an incredibly, massively difficult place to buy property and it is exceptionally easy to buy a money sucking pit of rubbish.
    PM me and I will give you a good property inspector and conveyancer because there is loads of rubbish out there too in that aspect.

    Otherwise I would forget about it, invest your money in Vangaurd and when you are here buy then. Prices will drop some by then also.
     
  7. beertank23

    beertank23 Well-Known Member

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    Don't listen to ALD above and you'll do just fine!

    If you're after a 2 bed town house, there is good stock in Waratah which is a 5 minute drive to the John Hunter, moreover, there is a bus that goes from Hunter Stadium carpark to the John Hunter several times an hour specifically for the John Hunter to alleviate the parking issues, Hunter Stadium is a 5 minute stroll/amble from Waratah.

    I have a PPoR in New Lambton Heights, I'm probably a 1.5 minute drive from the John Hunter and there is zero John Hunter cars parked anywhere near me, good capital growth, rents are holding ok and is a leafy, hilly suburb if you're into that, the downside is its not trendy at all, there is zero cafes and trendy organic shops, you have to drive over the Lambton for that. 5 minute drive to Cardiff traino and 5 minute drive to Kotara and Charlestown shopping centres. Edit: Very little to no development in my part of new lambton heights, so no town houses.
     
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  8. larrylarry

    larrylarry Well-Known Member

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    Sometimes even if, that is if, you get the big picture right, you can get the details wrong. lumping other state economy with NSW is silly. sure, one can talk down an area but you'd better have real data and information to back you up. I have lived in Perth and I know what Perth is like. geez.
     
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  9. legolas

    legolas Member

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    Went upto newcastle today.
    #drg86. The property on hill st North Lambton had lots of interest. Has been very nicely renovated. Probably going to be to big for me to manage. I wouldn't be surpirsed if it may sell for more than advertised price given the interest level.

    Also visit few places in Elermore Vale. Seems to be good location for my purposes and good price point.
    Not sure about growth potential in the area. But I'm tossing up between a nice house in Elermore Vale or something cheaper/with less land in New Lambton.
     
  10. samiam

    samiam Well-Known Member

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    Quite a few hospital staff live in Elemore vale and rankin park. Buy closer to shopping centre and schools.
    CG is better at New Lambton. More central location and better schools. But you may not want to pay a top price just for that, esp at the moment, stocks are low
    Btw re: parking at John hunter, no problem finding a spot if you are a staff, different story if you are a visitor
     
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  11. Ald

    Ald Well-Known Member

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    Mr Beertank, now why would you get all angry at me just because I advised somebody to use the services of Alan Fox?

    I think you need to crack open another can and chill out a bit.
     
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  12. drg86

    drg86 Well-Known Member

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    I thought that Hill St would be popular. We'll see how it goes but I think you may be right and a bit of emotional attachment from purchasers will rally up the price.
     
  13. Ald

    Ald Well-Known Member

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    Hill street is overpriced.

    There will be very minor capital gains on it for the next ten years if you buy with a mortgage and 20% deposit.
     
  14. Ald

    Ald Well-Known Member

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    Hill street was purchased in 2013 for under $400k, three years later after a Reno its up for grabs at $700k plus. The owner is the smart one who will make the money, I was on my way to see it yesterday but just turned around and went and saw something else.
     
  15. lightbulbmoment

    lightbulbmoment Well-Known Member

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    Look to buy house and land in the nice streets of the junction and hamilton south area eg alexander street,. Also merewether side that is on the junction is nice aswell, eg turnbull and kenrick other side is overrated. Or a terrace in newcastle east.
     
  16. samiam

    samiam Well-Known Member

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    Nice CG suburbs but hardly any at OP's budget
     
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  17. legolas

    legolas Member

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    Are properties near grandview road in elermore vale a reasonable location. Seems close to hospital and on the cbd side of the suburb.
    Prices 400-600 in this area depending on quality. I'm thinking of getting something in the area .
     
  18. legolas

    legolas Member

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    Have been revisiting new lambton heights. Some the properties border elermore vale, rankin park.

    Is there any real advantage being in new lambton heights vs elermore vale. Obviously it is that bit closer to the cbd but does not seem to be a huge difference. Property growth in last few years seems to have been stronger in elermore vale.
     
  19. samiam

    samiam Well-Known Member

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    New Lambton Heights - a bit prestigious. Some designer homes on slopes are very beautiful but could be pricy. big blocks but not usable land eg subdividable. Popular with OO
    Elemore vale - some parts are better than others. Some of big blocks coming up now with townhouses/ villas. Elemore vale and Wallsend have had a good growth in last couple of years.
    Be careful buying closer to Cardiff border/side unless a super big block as it's in lake mc.
     
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  20. beertank23

    beertank23 Well-Known Member

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    Why do you say that? Just curious. I've got 750m2 in LMCC.