NSW Home in new castle with long term plan for investment

Whats Garden Suburb like as a place to live in and also longer term growth potential?

 

I like Garden Suburb, it's leafy and green, decent schools (i think?!), short drive to shops, I think Cardiff station is reasonably close, again it's the other side of Lookout road, which is no big deal to me, however if you're into like trendy suburbs close to shops, you want to be on the newcastle side of Lookout road (Kotara, kotara south, charlestown, new lambton, lambton etc etc). i put an offer in for a property in Garden suburb, it wasn't accepted tho.

 

I have some townhouses in Mount Hutton that will be completed probably mid next year. A few 2 bed and one 3 bed remaining. 10 minute drive to John Hunter, 5 minute drive to Charlestown Square, 5 minutes drive to Warners Bay and 5 minute walk to Lake Macquarie Fair Shopping. 2 bed $390k and 3 bed $430k. If you're looking to move in straight away then I guess it's not suitable for you but if you're happy to wait then it's way below your budget and close to your work.

 

Watch interest rates rise in February and property prices drop in Newcastle and Sydney as Sydney investors dump properties they can't afford. Watch the money flow to Perth.

 

I don't think there will be any case of investors dumping properties in Sydney with a rate raise.
Most people in Sydney have heaps of equity in their properties as most bought long ago, and to simply dump property in Sydney due to a small rate rise would be very short sighted thinking.
Even if they sell, there will be a high number of people still looking to buy in Sydney - or they'll still be happy to buy elsewhere in NSW.

 

I'm looking to move start of next year.

Did some more hunting looks like town house or small cottage type house maybe the way I go. I'm thinking of something in new lambton or more central areas. As I suspect there will not be much interest for these properties further away from the CBD.

 

Yes I agree with Gockie.

I also tend to think a lot of more stock was bought in Newcastle too before the prices went up so those who cannot afford to hold stock when the interest rate goes up will be minimal as rental incomes were pretty neutral till a few years ago. Maybe a PPI's that over extended themself but I cant see a big property dump.
I would think that would more affect those that bought in mining towns etc
There is so little stock in both Sydney and Newcastle that it will be snapped up quickly anyway.

 

I even like West Wallsend. Character, main street and huge blocks.