More confused now than ever

most of the city beautification projects and all the infrastructure projects have not even been completed yet so in all due respect I do not agree at all. Along with many other factors in the post I made above at the exact same time as your one. But I do not have a crystal ball, just going by real things, not just data which i realise is important too. Be good to hear more views on this from people who also are familiar with the area like propertunity etc.

 

Projects like the International airport extension have barely even started or the V8 supercars. The light rail has a long way to go. Mayfield coles village and supermarket, most of the building projects in the city are hardly even started

some more projects and articles:

• IT hub
• Newcastle 2030 Community Strategic Plan (PDF)
• new eco coal projects
• Newcastle ripe for sydney investors
• Seachangers and people working from home are boosting property prices
• House prices soar in sought-after suburbs of regional cities

just touched the surface but I have backed up my claims with facts not just speculation....

 

Some pics I took of a couple of many building going up when I was there in the city a few days ago, you think it's peaked there???

 

Hi Gonx

You're assuming that improvement in infrastructure means that prices will go up . Not always the case .

I've just had a quick look at a few newcastle suburbs and they seem to have gone up by around 60-70 % in the current cycle .

Newcastle is driven by Sydney .

Sydney goes up and people move to Newcastle because they can't afford Sydney or they cash up in Sydney and buy further north .

There maybe some movement left in Newcastle , but IMHO those places I"ve mentioned will probably move more in the medium term .

Cliff

 

Can I suggest look for suburbs still at commute distance (approx 1 hour) to the CBD, but still relatively inexpensive compared to areas closer in?
Overflow suburbs with good amenities usually do well, as people always end up having to compromise on price and location, so then move to the next more affordable and desirable area.

 

Hi see-change, yeah I would agree normally in the cycle but I think it's a little different as the cycle has only started to see increased prices in the last year. In the last 5-6 years it's only been a moderate price increase I believe. I think we will see an extended or double cycle here. The X factor is that the city started the Revitalise infrastructure project in the last year or so. That is probably been in the works for sometime but it still has a long way to go. They haven't even built the light rail which will be really good for the city. Just look at the photos and info in that link, it really does look a huge game changer for Newcastle. I know when I would drive up to Newcastle from Sydney years ago I used to think how ugly and forgotten the city area was. I was in the city the other day and the change already is dramatic and it will get much better soon. You really do notice the activity and energy going on with builders everywhere and new buildings going up nearly every corner. It would have been hard to have seen one of these 2 years ago. Then you have the Interchange which looks good. Broadmeadow station is also been revamped. That revitalisingnewcastle website I linked to above has a lot of interesting articles, I will look more myself shortly as I had lost that link until now.....

 

Ah

Ok Gonx

So this time is different ??

Scared Fry by See Change posted 21st Oct, 2015 at 8:25 PM

Cliff

 

Can't open link

 

Neither

 

Hi Savy mum,

I'm actually glad that I hadn't discovered Somersoft when I first started investing. I wouldn't have bought anything either due to being so confused.

These forums are great, but with so many options it can become overwhelming. Some say go up, others say go down. Some turn right, others turn left.....

Have you read Jan Somer's books? Try starting with these:

Books

They are written in plain English and consist of a no nonsense approach that demonstrates how wealth can be built up over time by investing in residential investment property. Jan's approach is not a get rich scheme, but a gradual accumulation of wealth over a period of time.....

 

Be wary, there are very few investment grade suburbs in Newcastle. All in all Newcastle is a very rough town of high numbers of Bludgers living in amongst prime suburbs evenly dispersed across Newcastle and there is a massive unemployment problem amongst the youth, 15%, drugs are rife and generally it's a messy place. Prostitution parlours there are plenty and as are tattoo parlours, which are an excellent business and every one on the street has a tattoo now so it looks like a prison population. Every week there are massive drug busts, cocaine on yachts in Lake Macquarie , marijuana growing commercial scale in the Churchill building in market town. So many pubs and alcohol and drugs and drunkenness. It's not going to result in many rich foreigners coming here to spend money, because they like classy, tasteful and architecturally beautiful added to their scenery. The restaurants on the foreshore are expensive and empty. To the normal European or Japanese seeing a person with multiple tattoos is a bit like the tattooed person hanging a sign on their necks that reads " hello I am a ******". They look at the cheap glass and steel buildings going up all cramped and they see it for what it is, ugly, cheap and nasty, stupidity. Low interest rates means loads of apartments are being built and being sold for incredibly stupid prices, bargains will be plenty in a few years time when the so called astute investors realise how ill informed they were.

Recently there has been an uptick of jobs related to the construction of apartments and some defence contracts, but the cbd has been and will remain dead for another two years and is not likely to recover. Coal mining projects will decline completely if Adani mine in Queensland goes ahead. The cruise ship terminal is on the wrong side of the river for it to be that exciting and over time only the budget cruises will stop here because it's damn ugly where they stop.

The city is being transformed into wall to wall apartment buildings and the views of the harbour will disappear from over 50% of the current, it's just dirty lobbying and your usual inept city council and politicians.
The fools will carry on about the light rail, when all it is is a phenomenonal epic waste of money that should have been squashed by massive street protests. A small fleet of half buses could do the circular route between train stations and the beaches more efficiently, so cheaply and when electric busses come, sustainably all at 20th of the cost. The light rail will kill the remains business on the cbd because people will go to Westfield. There is an absolute abundance of vacant offices already so who will come here? No educated people to drive the economy forward. It's sex, drugs, alcohol, music and surfing as usual in Newcastle, it really is.

The university buildings that are being built is for rich foreign students to pay astronomical fees while trying to study and they will be scrimping on everything and that money will go to executive bonuses so won't flow onto anybody. The apartment building developers, and all the constructions crews will all leave Newcastle once the buildings are built and the Sydney developers will spend their money in Vaucluse.

In short Newcastle is a great place to live if you are in a very few select suburbs near the beaches and near good schools and got loads of money, else it's a bogan paradise full of people expecting entitlements.

 

The major downer is that prices in your area have boomed to mental levels - the timing of buying right now is bad

This shouldn't be confusing. A bit depressing but not confusing.

 

Hi, you sound just like me when I started. I found Somersoft and it was really info overload. I went to seminars and was trying to find property that ticked ALL the boxes that all th different spruikers said you HAVE to have. It's not possible because different strategies need different things. I actually let a few good properties go as I was trying to tick all the boxes.
I ended up using a buyers agent for a couple then I started buying on my own once I found what strategy suited me.
As Gockie said- go to meetups. Networking is the key. You get to talk to people about your situation instead of reading broad ideas.
P.S We even have the same hubby. LOL
He'd come home and say "what have we bought now?".