NSW Newcastle 2019

Mayfield seems to have some nice period homes around, but looking at some areas around Mayfield West and where that property is it seems a little dodgy, places just off the main road. Seems to be more owner occupier appeal towards the tafe or towards Mayfield East, would that be the consensus though on Mayfield ? What are peoples thoughts on Georgetown/Hamilton compared to Mayfield ?

 

Georgetown has gone up significantly in price in the last few years. You'd have to find a real bargain to make it worthwhile I think. Hamilton has been up for a while, but it has convenience appeal. Both are a bit higher socio-economic areas than Mayfield, but Mayfield continues to gentrify, particularly Mayfield East. I reckon there are still opportunities to be had in Mayfield (East, West, and middle).

Cheers,
inertia

 

Mayfield East has the coal dust from all the passing trains and the coal loaders close by.

I think Broadmeadow is undervalued if you're looking at the inner city ring.

 

@TylerJamesson I had a meeting with Chris and I was impressed! He has had experience with sub divisions, unit blocks and commercial which is good to know if I want to go that way.
Thanks for the recommendation!

 

I have been researching and trying to educate myself as much as possible on the Newcastle area, and was wondering if someone could answer a couple of questions. I am looking to purchase a PPOR and am looking for something which will be a quality investment also as long-term I want to build a portfolio, but I need somewhere to live also. In terms of what I can afford as close to Newcastle as possible, Mayfield and Waratah are the 2 locations I am looking at. Right now there are a couple houses, all renovated, in a similar location, but different prices, yet quite comparable.

65 Scholey Street, Mayfield, NSW 2304
440m2 / 3bdr / 2bath / 2gar
Roughly 1km from the train station, however the intersecting train lines run about 100 meters behind the house out to the coal trains and the Newcastle line. Price guide is 595-650.

92 Kerr Street, Mayfield, NSW 2304
345m2 / 3bdr / 2 bath / 2gar
Roughly 1.7km from the train station, however roughly 100 meters from the very busy road and on the same street as the school which means a lot of traffic out the front you would assume. Price guide is 700-770.

In terms of aesthetics I prefer the top one, but my assumption is land in the Mayfield North area is more appealing and more valuable then that across the pacific highway towards Islington and Hamilton North ? Any thoughts ?

 

Kerr Street has some of the most expensive homes in the suburb. Be very wary of the Price Guide these selling agents are quoting.....You can PM me if you wish.

 

I previously lived on Kerr St, and slightly closer to the main road than no.92. You are correct that there is parking and traffic due to the proximity of the school, however, if you have off street parking it is fine. The noise from the road is hardly more than a hum as the traffic is constantly moving on that section of road.
There is a bit of coal dust in that area - especially during summer months when the prevailing winds are from the east.
It is a very handy location though, with easy access to the beaches, city and Westfield.
Mayfield's Woolies is one of the best ones around the Newcastle area!
Good luck with your search

 

Waterford Financial are pretty good at what they do. They have most medical professionals in the Hunter as accounting and fin advice clients.

 

Hi there! I was wondering if anyone knew how much people paid for a two bedroom apartment in Lume facing the water off-plan? Thanks kindly!

 

Hi people! Anyone have experience getting a granny flat approved on a large but narrow property in Newcastle? I am looking at a property only 10m wide but very deep. I understand it will need a DA. Anyone know of DA being approved for a GF on a block that narrow?

 

I have spoke to Newcastle Council about a house in Broadmeadow with the same width. I did not buy it due to the price. They did not seem to have any great concerns about a granny flat. They seemed very helpful. Might pay to give them a call. But that is as far as I went with it

 

You won't be able to do a CDC so it will make it more convoluted.

Talk to Grant at Backyard Granny's, very knowledgeable.

 

hi there!
Hoping you'll read this and say "your plan is stupid because...."

I'm looking to buy a PPOR that will become an IP 2-3 years down the road. I'm limited by the Lambton High School zone -i.e. all of Lambton, Rankin Park and New Lambton heights and parts of New Lambton and Elermore Vale etc.

with a budget of 550-660K i've narrowed it down to some units in Elermore Vale and one in Lambton. they're all average, but we can tough it out for a couple of years. (i dont like elermore vale...too many units on the market, or in the works)

the plan only works if there's at least 2.5% yearly capital growth over this period, and the interest rates stay close to where they are.

rental yield for both properties is around 4% by my estimate

have at it!

 

I wont even pretend to be someone who has experience, I am in my education phase right now trying to learn everything I can. But, from what I have been reading and listening to, that unit at Elenmore Vale is an off the plan purchase which is pretty much always a no no except in very rare circumstances. The second unit in Lambton also looks to be a newish build with another unit in the building selling for $570K last September and that spent 100 plus days on market. I personally for my first investment from everything I have been educating myself on don't see either as a great long-term, or short term growth prospect and would steer clear. I am sure someone much more educated and experienced could offer better insights however

 

If you are after long term capital growth you would be far better off renting in the Lambton high School zone and purchasing a home over a new townhouse.

The properties below will all be good long term investments and should achieve close to your 4% returns.

3A Dickson Street, Lambton, NSW 2299

52 Bridge Street, Waratah, NSW 2298

81 Barton Street, Mayfield, NSW 2304

27 Highfield Street, Mayfield, NSW 2304

 

Hi I’ve recently been researching where to buy my first investment property. I’ve been reading up on future infrastructure and transport in Newcastle and I think I’ve decided Newcastle is the place I’m going to want to buy. The 3 suburbs I’m looking at at the moment are Lambton, Waratah and Mayfield. What’s everyone opinions on long term growth for these suburbs? I’m thinking 10-15 years in to the future. I don’t see myself living in this property but I’m looking for abit or equity to buy a house in Sydney in the future. Also would these suburbs be easy to get tenants or not?

I’m looking for a 2-4 bedroom house with a maximum value of $600,000.

If anyone has any positives/negatives or any information about these suburbs or investing in Newcastle in general that would be much appreciated

 

Parts of Mayfield have a reputation. Also I'd have Kotara and Adamstown in my shortlist as well.

 

Some part of Lambton (closer to Jesmond) got reputation but this should change. I am looking at those suburbs as well. I don’t want to spruik before I finish buying!

 

You’ve done your research well and narrowed it down to about the best suburbs for that price for long term gains imo although you won’t find anything decent in Lambton for $600k. Also add Georgetown to your list. I wouldn’t go any further west than mayfield or Waratah. The closer to the CBD then better if you’re looking at long term

 

The earth moved in Newcastle not long ago, see Second earthquake rocks Hunter on Monday