NSW Newcastle 2019

Thanks Alan for the info. I am considering looking into Coral Homes or Oracle platinum homes.

 

Bar Beach just recorded the highest sale we have seen for a long time this month,
no sale price is being advertised but I was told it was in the vicinity of $5,500,000.

40 Kilgour Avenue, Bar Beach
40 Kilgour Avenue, Bar Beach, NSW 2300

It will be interesting to see if anything else will top this sale this year, this is about as good as it gets for location in my opinion for Newcastle.

The rest of the market has been fairly sluggish, Realestate.com told us today that the average days on market for the Newcastle area has risen this quarter from 50 days to 60 days. From what I have seen so far this year I feel we will see further drops in prices for the rest of the year.

Tom

 

Sold for $5,510,000 Tom.

 

Awesome place. Still wouldn't like the amount of foot traffic past my front door.

I agree can see some stagnate months ahead.

 

I'm with Prop on this one - wouldn't touch any of the new out-of-town subdivisions with a barge pole. Massive plots opening up, massive sprawl, no scarcity, miles from anywhere, boring as heck and date really quickly ... any chance you can sell and get out?

 

Plus Minmi will have 2000 houses closer in

 

Hmmm maybe I should list all the reasons why I wouldnt touch stockton. But that wouldnt be nice after fellow member have spent up big there. Point of the story everyone is different dont be so judgemental.

 

Not judgemental - just 30 years of experience. Good and bad

 

Any word on whether any upgraded infrastructure will be constructed?

The link road is already a congested mess.

My guess is no more schools or shops will be built, much like Cameron park i.e on the plans but never constructed.

 

City spreads west under huge housing estate plans

 

HUge block on land for sale. Im guessing this hill will be covered in housing estates soon. Land for Sale - 1a Raymond Street, Speers Point, NSW 2284

 

I’ve noticed prices down 10-15% around merewether / hamo east / the junction just over the last few weeks. Properties that were selling quick now having multiple price drops. Has reality finally set in that these places aren’t worth $2m?

There’s still some with ridiculous prices on them that I assume won’t budge without a serious reality check:
This one on a postage stamp on railway st for example.

9 Railway Street, Merewether NSW 2291 - House For Sale | Domain

 

Does anyone know if posting a property you have for sale in the forums is against the forum rules? @Simon Hampel

 

Im after a future duplex/townhouse site in Newcastle. Buy and hold develop down the track.
Up to 800K
Heading up fro Sydney and Will be having a drive around tomorrow. Pm me if anything comes to mind.

TIA

 

@krispy Oh lawd that is a big block of land at speers point.. I didn't realise it was privately owned, thought it was council land or something. I don't think we will see houses there for a long time. A developer won't bother spending money there until they can see the dollars.

Regarding @RyanB 's comments... wait until mid year and you will see more bargains.

 

A question for any of the more experience property Guru's on here - in the previous property slumps how has the local Newcaslte/Hunter market been affected, e.g. in Sydney you see these huge ups and downs, whereas in regional towns (tamworth, orange, Bathurst) the market doesn't really change (comparatively) through the ups and downs. Newcastle has evolved recently in terms of industry, jobs, population etc so will be interesting to see what happens the next 24 months.
The obvious answer would be 'somewhere in between' but a bit of feedback from experienced locals would be helpful. Thanks

 

https://www.google.com/url?sa=t&sou...FjADegQIAxAB&usg=AOvVaw2wZEg__d0RauhQy3IMbhqv

This one would be good to get.

 

All I know is the cut off time to buy a house in Newcastle was 2012 you could by houses in mayfield And stockton for 300k , new lambton for 400k and things where fair value and it was like that for years and years.

 

Newcastle doesn't have to dramatic dips and rises of Sydney ... it tends to stagnate, which can go on until the other markets recover. Newcastle then tends to move up around a year after Sydney.

As for "best time to buy" - I could quote 1988 when I bought a house at Valentine for $70,000 - so don't take any notice of that. The best time to buy is when you can afford to and, after doing all your research, you can see value for money.

Do not be fooled by sparkly and new - stick with "as close to the city as you can afford" - land over units if you can afford - renovators delights, that are structurally sound are usually a delight

 

OK thanks. I know perfectly well when I am going to buy and to stay from those new suburbs. god knows what the new estates are going to look like in 15 years. I built a lot of those new houses and it scares me to think about how long they will last.

I guess the real question is do we follow Sydney's lead.