NSW Newcastle 2018

Around 500k on the house says 480k

 

I think u will get this approved, in regard to front boundary the architect will provide an avg setback of the street houses 20m each way so if the setback doesnt meet the guidelines this is easy argued.

My architect mate told me when issues arise straight away to minimise time lost he will submitt a letter with DA from a planner stating clause 4.6 exceptions to development standards.

 

Heres setback guideline if needed,

 

Bit confused by this one

https://www.google.com/url?sa=t&sou...FjABegQIBhAB&usg=AOvVaw23uWeSN1C_6DjhLsXnrhS8

 

This one has some potential to split if anyone is looking, exsisting house on 300sqm2 is still going be worth low to mid 500’s.

109 Howe Street, Lambton

 

Looks like Sydney and Newcastle are stalling -- days on market are increasing and less urgency among buyers/investors isn't what it was in mid 2017.

Thats what I'm seeing anyway. 'Quality' is still selling but things have certainly slowed.

 

U must be lying the letters i get in the mail weekly keep saying they have 50 people showing up to houses , multiple offers, buyers ready to go etc etc

What are u gunna do with ur house at hamo ? its very close to the action.

 

They decided to leave the aerial shot out for this one hahaha

 

Haven't decided yet Lightbulb. Going to lease it and hold for now. Have cleaned it up inside with a fresh coat of paint.

No hurry to make a capital investment decision beyond that... the area is starting to pick up a bit. That mockingbird cafe and Lords are quite packed every weekend so good signs for Hamilton village.

 

Have you ever fixed your investments? Who on this forum has recently fixed or is about to?

 

Thank you Allan I see your point.

 

Not a matter of IF, rather WHEN it will happen @lightbulbmoment. There are only a small number of true suburban 'villages' in the Newcastle city ring which have walkability to pubs, shopping, food, cafes, banks, transport, amenities. The Junction, Cooks Hill, Hamilton are the main ones that have it all. It's the same logic why people love the character of the living in the 'Inner West' in Sydney.

Villages are only going to become more desirable in my opinion. Especially as a developer. Everyone wants proximity and walkability -- whether it be 'day to day' lifestyle amenities or 'beaches' (which when you think about it beaches are not very appealing to most of us during the colder months which is about 2/3rds of the year).

 

Good spot , plenty of value add potential to the house and a decent amount of land under your feet for the area i like it.

 

Market Update - from what I'm seeing on the ground in Newcastle the market has definitely changed. Has a early 2016 feel to it, prior to the x2 interest rate cuts.

Mediocre properties in the mid $1m's aren't moving like they used to unless they are exceptional. Properties in the mid 1.5m to 1.0m staying on market for longer.

 

I guess the following article in today's SMH lays it all on the table as to the cause of the lack of buying activity ie finance taps have dried up. The market was running pretty hard over the last 18 months. Can't go on forever.

'Housing slump': Mortgage lending plunges, further weakness expected

 

A quick browse through sold section tells me otherwise constantly blown away by what people are paying.

 

Merewether maddness still screaming along....seems like name your price there at times and people will pay it.

 

https://www.google.com/url?sa=t&sou...FjABegQIBxAB&usg=AOvVaw1-M4kdTW4F3hpE60xgDTzz

This is good value ! Land on rates notice would be worth more and the DA process would of been stressful and exspensive.

Goodluck with the build though its going to cost a fortune!!