NSW Newcastle 2018

Thank @Islay, @Whale_monkey, @lightbulbmoment, @Propertunity for their comments. They are very informative.

Alan @Propertunity – hope to touch base when their loan has been pre-approved.

 

No worries

 

We've exchanged on a new purchase in Stockton - so I now feel free to let some little inside info out on this rapidly gentrifying suburb of Newie.

We bought 2 blocks from an amazing surf beach beach and fishing breakwater - 10 minutes walk to the supermarket and a ferry terminal that, with a 2 minute trip, takes you into the heart of the CBD, 500sqm+ block - huge foreshore park to sit and watch the big (and I mean BIG) ships come and go, if that's your thing - 20 minutes drive to what "is now" an international airport (just the beginning of it's overseas ventures) - 20 minutes drive John Hunter Hosp (we're getting older) - rent income will be low initially, until we're ready to move in around 2-3 years, but it's only a 40% borrow, so rent will cover costs

But ... the agent let it slip that 6 out of 10 listings are deceased estates - so the oldies are "moving" out, and those with some cash to renovate are moving in - AND - from two sources I've heard there are plans afoot to massively upgrade the Stockton foreshore, to mirror the Newcastle side, with over the water restaurant, cafes and shopping precinct. Combine that with discussions for the ferry to extend it's route ... I'm liking it more and more

 

I like Stockton for all those reasons @Lizzie. Only a few short years ago we purchased a few properties there for clients. It always amazed me that locals thought Stockton was "too far away" - they had childhood memories of long drives to get there on holidays (before the bridge). It seemed that every 2nd house was undergoing a renovation. Great beaches.

I'd be even happier with it once the Orica plant is closed or relocated and they stop gassing residents, google: "hexavalent chromium emission incident"
orica-kooragang-island-incident But that was 7 years ago now, let's never speak of it again

 

And if you have young children what about the huge stockpiles of coal and the coal loading facilities which fill the air with particles just behind Stockton - it will be years, if ever, before it is closed... I would think twice about living there if you had asthma or any breathing problems.

 

I am a fan of Stockton today. Orica is a problem and I am not a fan of great white sharks either - they breed there. I am old enough to remember the bad old days of heavy industry and having to catch a punt to get to Stockton. However having said all that, today I love to walk around the old streets and there is the beginning of a café culture vibe developing. A couple of weeks ago took our almost 3 year old grand daughter on the ferry. It is a beautiful city looking from the working harbour and Stockton is so central. I have been encouraging my young adult children to consider Stockton in there PPOR search - they tell me "it's on the list"! I hope you enjoy your move Lizzie when you make it

 

Lizzie
Congratulations on your purchase.

I have had an IP at Stockton for the past 12 months. My plan is to retire there.
Looks like a great place to live.
Interested to hear about your knowledge on the foreshore upgrades.
I sent you a PM

 

They are further from Stockton than they are to Mayfield, Warabrook, Tighes Hill and Fern Bay (check on googlemaps) ... even as the crow flies, Georgtown, Waratah, Islington and Hamilton North are just as close to the coal loaders as Stockton ... and Carrington, Maryville and Tighes Hill have the grain silos on top of that as well ... don't let the drive "past" the loaders fool you about the distance.

 

So are our plans ... although hubby might continue to do some contract work (hence the airport being vital). Looks like the movers and shakers are "moving" in. I can see it being the new Balmain of Newcastle ... with the added bonus of an awesome beach

 

I can see the attractions of Stockton, time I took another visit ... wishing you all the best for your move.

 

Can I get some feedback on Georgetown for an IP purchase? Advantages of this area I can see are it’s close to CBD, nice residential area, close to Waratah village, some decent 400m2+ block sizes, close to transport. Any disadvantages?

 

@Propertunity @tomlemke id be interested in your thoughts on this? Looking long term by the way Thanks in advance

 

It's fine. When doing an inner ring of 5-8kms from the CBD search, we always include Georgetown. We've purchased there many times.

Watch for areas of flooding.

 

@Aaron Duffie I like Georgetown, plenty of nice older style homes on decent blocks. $600,000 doesn’t get you much in this suburb anymore.

Something like either of these properties I feel you will do well with long term.

26 Brett Street, Georgetown, NSW 2298

12 David Street Georgetown NSW 2298 - House for Sale #129232670 - realestate.com.au

What I would avoid if buying in Georgetown-

-Steets backing onto the train line
-The industrial part
-Houses backing onto Turton Road
-Low lying areas

 

Thanks @tomlemke much appreciated. I was looking at the one in David St but was thinking it’s not near any shops/amenities like the streets closer to Waratah village even though it is closer to town? I do like it for the large block size and scope to add value as there is a DP already approved for extension. What are your thoughts?

 

Hi Aaron,

David Street is one of the best Street in Georgetown, I wouldn't be concerned with location as it would be lucky to be less than 500m to the shops in Georgetown and around 1km to Waratah shopping village.

 

Ok Thanks heaps!

 

Hi Guys,

First post on the forum and just wanted to start by saying thanks to all contributors - I am currently in the research phase of my property investment journey and am loving the info and advice on the forum so far.

My partner and I are currently looking at purchasing an investment property in the near future with the intention of building towards a small portfolio to hold long term. We are also looking at engaging some potential advisers (mortgage brokers, investment advisers, BAs and the like) to help us on our journey but really want to get an experienced team behind us without the affiliations and self interest that can come with this. So my question to the forum is can anyone recommend any individuals or businesses in the Newcastle region that they would recommend as a starting point.

Thanks in advance for any opinions and recommendations.

 

Alan @Propertunity

 

Thanks @samiam. Hi @Bitte. I’d be happy to chat with you when you’re ready. We’ve purchased 100’s of properties in Newcastle for people over the last decade.