NSW Newcastle 2018

Discussion in 'Where to Buy' started by tomlemke, 26th Jan, 2018.

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  1. TylerJamesson

    TylerJamesson Well-Known Member

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    They already have at Lords Mullet Cafe @tomlemke
     
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  2. tomlemke

    tomlemke Well-Known Member Business Member

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    How good is that place! C33B4692-F4BA-4BB4-B188-E4C748084F7E.jpeg
     
  3. inertia

    inertia Well-Known Member

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    They've made it about 1/5 of the way down the street...
     
  4. inertia

    inertia Well-Known Member

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    They're an outlier!
     
  5. tomlemke

    tomlemke Well-Known Member Business Member

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  6. LukeR

    LukeR Well-Known Member

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    Any buyers advocates here happy to help out?

    Please contact me

    thanks
     
  7. tomlemke

    tomlemke Well-Known Member Business Member

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    Alan Fox @Propertunity

    Dale Slater @ Property solutions 101 ‭- 0438 408 577‬
     
  8. tomlemke

    tomlemke Well-Known Member Business Member

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  9. krispy

    krispy Well-Known Member

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  10. tomlemke

    tomlemke Well-Known Member Business Member

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  11. TylerJamesson

    TylerJamesson Well-Known Member

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    Good news. If they want people to look outside of Sydney, with its transport infrastructure at it's limited, the NSW State government need to CONTINUE to invest in other centres and cities.

    Newcastle had 20 years of ZERO government investment under 'safe Labor seat status' ie Bob Carr, Iemma, Rees, Obeid, ... no need to give voters anything. Now we're playing catch up and the investment dollars are flowing -- you can see the progress.

    The best thing for Newcastle is if it becomes a swinging seat rather than a rusted on ALP town. Wishful thinking I know, but remember the squeaky gets oiled FIRST.
     
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  12. Ald

    Ald Well-Known Member

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    It will be a very different town once the tide goes out in a few years time and the naked personal and government debt becomes apparent in a high interest rate and high unemployment environment. Newcastle doesn’t have the environment for young entrepreneurs to thrive and build the replacement industries for the sold to China coal mining and port. A young brilliant family arrives here and have to live somewhere in Fletcher or some other whoop whoop far away suburb, pay a fortune for childcare and kids sports ferrying them around and then a fortune for rent and utilities and have no money to start a business. I have mates that have started up a few tech start ups and spend their life writing grants and living with minimal salary instead of developing the technology, because the baby boomers are all investing in property and the asx top ten and nothing else. They quickly see if they can flog off their ideas somewhere and look to get out and find a job,

    Who are we kidding this boom in NEWCASTLE is debt fuelled and not providing any new permanent jobs. When the cranes, developers and construction workers leave within 3 years there will be an abundance of properties. The economy is based on university workers, hospital workers, temporary construction jobs, port and coal services workers, property managers and real estate agents selling the same assets over and over at a higher price to the next biggest fool who keeps offering more and more money instead of offering far less.
     
  13. MyDarlinghurst

    MyDarlinghurst Well-Known Member

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    I have to agree ; there will be a oversupply of apartment especially in the City
    Unemployment is high who is buying in the city part?

    Majority living there are Aussie bogans anyway and high crime
     
  14. Ald

    Ald Well-Known Member

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    Well surprisingly everything in the city sells immediately. There has been an incredibly low vacancy rate in Newcastle. Many people are renting here while the construction occurs and because of low interest rates and the assumption that Newcastle is “becoming a global city” because the mayor says so. This is the same mayor who any chance she gets takes her family on overseas holidays, to the Solomon Islands, to Hawaii, anywhere but stay in Australia and support Australian businesses and live in the best “global city” in Australia. That’s not surprising because with property becoming the best tax free superannuation investment one can make, no normal person can afford to holiday in Australia, because even camping in the bush has to be a revenue making exercise. The big Australian family can’t afford to go camping anymore because national or Nsw parks slugs them with exhorbitant fees and plays the conservation Card to justify their thievery. One cannot live like a free human being from 10000 years ago anymore, go try for a walk in the bush and fall asleep without getting harassed by a modern day Neanderthal in blue with a baton and a gun the next day, they arrest you for any triviality. Open your mouth and they shoot you. Even the European backpackers are avoiding Australia now because it’s too expensive and with the advent of expensive Airbnb and militant military equiped police and council rangers everywhere means Australia is not a great option anymore.

    But back in NEWCASTLE, the Sydney and Newcastle people are buying everything because of Airbnb and good returns due to current construction situation and low interest rates and they all hope to quit their jobs in impossible to live in Sydney and come live here and wanting to buy a seemingly affordable property due to the low interest rates and proliferation of property investing since about 2003 into the national pastime, from being something a few smart people did to becoming the craze it has become just like bitcoin was a few months ago. Everyone believes that their Goverment will not raise interest rates or let the banks do so because so many people are in debt. Fantasy.

    When interest rates do go up, watch the people flee Newcastle with high unemployment and no new job creation and a city that has embarked on enxepensive infrastructure upgrades that must be maintained but who’s use can be avoided.

    The light rail is a white elephant project because nobody will pay nearly or more than $10 a day to travel on it down to the Hunter street mall and back when the CBD of Newcastle is basically now at Honeysuckle. If they have to they will use it only when it rains otherwise they will walk to work in the old CBD down hunter street mall in 15 minutes or they will cycle or scoot. Dumbest idea ever, shortest most expensive light rail ever built. That can be easily avoided with a walk or a bicycle. The city council and state government will then introduce no parking everywhere in the suburbs near NEWCASTLE and close off all the roads so that people can’t get into anywhere near Newcastle in a car without either paying the council massive parking fees or slightly less but still expensive train fees or bus fees. This will mean that people will push for work from home, businesses will move away from the CBD (I already know of a person that has moved their entire business of 45 staff from the CBD to Belmont when the train line garbage started nearly killing their business when key staff threatened to leave due to inaccessible city and the move eventually lowered all their costs and even their housing and travel costs, she sold their house in HAMILTON South bought in caves beach for half the price, other staff bought in lakeside suburbs and rent out their old places, she invested the rest and has doubled that, some of the staff travel now with traffic in the opposite direction and no longer pay for parking, nobody is going back to the cbd and everyone is happpier, I have noted many businesses that have left and won’t return). The cbd will become a weekend ghost town apart from a supermarket and the existing restaurants and new places on the foreshore. It will become a place of rowdy night clubs full of foreign students and the blight will continue. Just ask yourself why the council is standing on its head to create this NEWY Passport rubbish to try get people to win a prize by shopping in businesses in NEWCASTLE. It’s because they know that Business is dead and dying and they are desperate for some to remain. Everyone knows that the CBD is finished, Kotara and Charlestown is where everyone wants to be on the weekends and during the week. Better restaurants, safe entertainment. There is only one business that I use there in the CBD and they do home delivery because I can’t be bothered to go into the city and have to pay exorbitant parking that’s more expensive than driving to Kotara or Charlestown that has everything and more than the city can offer? Even that business has informed me that when the train line finishes their landlord has indicated a a rent increase or sale of the premises and so they will move out and are already preparing for that. In the city I have to see and worry about the parking meter maids street walkers looking for business. I see their countenance and their negative scowling faces full of bitterness and I just hope I don’t see them or manage to look away to avoid a bad day and their toxicity to pass to me. I just avoid the cbd now completely. I walk or cycle to my office and don’t give a damn about the stupidity of state and council governments that only think about how to maximise immediate profits without concern about anything beyond their current 3 year term, which is the democracy Australians love and adore because they maintain it and defend it with militant vigour.

    But everyone believes interest rates won’t rise.

    Well that’s a fantasy, interest rates are going up to 10% and perhaps even more, because the spending that has happened recently is much like the spending Volcker did in the USA in 70’s and 80’s and that means that when the USA can’t afford to pay back their bond obligations by raising more debt to pay back the old debt because the people or banks won’t allow it, then they will raise the interest rate to inflate away the principal value of the trillions of dollars worth of bonds. This means house prices will stagnate and also drop, getting a new loan will be difficult and banks rely on a even higher interest rate from existing customers to make up shortfalls in new customers. You see now in the USA life is affordable houses are cheaper, food has not increased in price and unemployment is at record lows. It’s perfect conditions for quickly raising interest rates without causing a major housing price increase that will floor the economy there. The USA will succeed because they had the foresight to know that the best control on capitalism is to allow that housing prices can never be indefinitely inflated to cause debt slavery by allowing the people to walk away and leave the houses to the capitalists. That’s the best control the people can have against a dictatorship of capitalism. Australia has not learnt that lesson and remains a country of debt slavery which is why the foreign banks love to loan money to Australian banks and why the government has to have massive immigration, artificial land shortages, minimal infrastructure to frustrate, low speed limits, garbage roads, red tape on development, massive stamp duty, foreign buyers of property, crazy superannuation schemes, subsidies, tax concessions and all manner of new schemes they will bring in, all these things with the one aim of keeping the house prices high and stable and climbing. Everything the government does is directed towards keeping house prices high and they do not innovate in any other way except to achieve that. If they build apartments it’s for temp jobs, and then they fill them with immigrants and keep the situation the same as it was. Their new model which will shortly become apparent to all is to do what America started in the 80’s become an exporter of money, you will see Australian government debt rise to the multiple trillions over the next decade as successive governments raise the population, keep the construction, keep the stamp duties high and limit expansion and infrastructure away from the cities into new areas forcing more infilling only. Australia will sell bonds worth trillions over the next decade to pay for this unsustainability and leave the problem for future generations, just like Reagan, Bush and Obama did and then seethe when the people elect Trump to clean up the mess.

    As for the Bogans, you refer to, Newcastle is a place that has housing commission dispersed everywhere throughout the city in every suburb. Merewether has huge amounts of housing commission just by the beach. They are everywhere. In cooks hill in Nesca parade , in HAMILTON south on Glebe road and on parkway avenue and in the junction, absolutely everywhere and interspersed amongst decent working people. So you will walk with your kids on the streets and the Newcastle high school kids will be swearing at each other and causing trouble and fighting. Market town is full of drunks and druggies near the methadone clinic by the KFC. Brothels everywhere, tattoo parlours everywhere and none of the old buildings being restored or renovated and new businesses moving in as the commercial property is astronomically expensive, the blight will, remain. None of that will change . Newcastle must be the centre of live music in Australia. And that drugs, tattoos and alcohol rock and roll and motor head mixed with surfing and skating culture is what everybody here aspires to.
     
  15. Propertunity

    Propertunity Well-Known Member

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    Meanwhile, back on planet Earth, Open homes I visited last week-end were very well attended with multiple offers being received in many cases.

    But please keep up the negative banter, I could do with a bit of help (less competition) buying some 'bargains' for paying clients. Geeze, the clients we purchased for in Mayfield a few years ago for $280K are very happy to be sitting on a val of $580K now.
     
  16. inertia

    inertia Well-Known Member

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    Mate, could you use some more full stops? I nearly passed out holding my breath reading some of those sentences.
     
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  17. lightbulbmoment

    lightbulbmoment Well-Known Member

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    a few years ago for 280k and now worth 580k please post 2 examples to show this is true
     
  18. lightbulbmoment

    lightbulbmoment Well-Known Member

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    Cheapest i ever seen in mayfield was around 300k 5 years ago so would be cool to see u back it up with some examples.
     
  19. lightbulbmoment

    lightbulbmoment Well-Known Member

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    Based on my quick research of selecting the search criteria on RE.com "lowest price" for mayfield the absolute prime time to buy was 2012 many sold houses between 250 to 300k. You could also still pick up baragins in 2013 and even 2014 i seen a couple around the 300k for renovators.
     
  20. Propertunity

    Propertunity Well-Known Member

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    Sorry mate I cannot expose my clients which I'd be doing in this process, however, we have purchased dozens and dozens of Mayfield properties over the last 10 years in the high $200K's to early $300K's which were all median type properties and I note the current median is $608,500.