NSW Newcastle 2020

Discussion in 'Where to Buy' started by samiam, 1st Jan, 2020.

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  1. samiam

    samiam Well-Known Member

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    {Note from mods - this thread continues from here: Newcastle 2019 [NSW]}



    I thought I should start Newcastle 2020 thread

    1. Newcastle inner city bypass link road is already in pipe line (15 mil)
    2. John Hunter Hospital infrastructure upgrade planning is almost done, hoping to get budget to start in 2021 (700 mil)
    3. Ongoing CBD updates

    Don’t like too much competition here though as will be buying in Q2 2020!
     
    Last edited by a moderator: 1st Jan, 2020
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  2. Serveman

    Serveman Well-Known Member

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    Are there any houses under 500K in the Newcastle, Lake Macquarie district left worth buying. The only areas I could find were Maryland, Woodrising, Bolton Point and Medowie. These areas seem too far out for people want to work in Newcastle (What I have been told), or are they viable? Also aren't these areas still in declining stage of the property cycle?
     
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  3. DoggaPP

    DoggaPP Well-Known Member

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    Our PPOR is in Eleebana - prices definitely declining.
     
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  4. Niche

    Niche Well-Known Member

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    I work in Newcastle CBD and live in Jesmond and the drive is pretty good plus once the bypass is completed it will definitely be a lot smoother and quicker around Jesmond roundabout.

    Unfortunately for me I don't think Jesmond will have any CG soon due to it still being a low socio-economic area but the bypass could make areas like Wallsend and Elermore Vale more appealing.
     
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  5. Niche

    Niche Well-Known Member

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    It will also be interesting to see where they plan to extend the light rail to (if they ever do) as well as when it will actually happen and how that may affect prices
     
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  6. fols

    fols Well-Known Member

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    I wouldn’t touch these areas.
     
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  7. samiam

    samiam Well-Known Member

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    Are you sure?? I don’t think there is any suburb declining/declined significantly. There was a slow period for sure but not so much so in the areas I am looking at..
     
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  8. Edd

    Edd Active Member

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    Hi @fols , why not? Keen to hear your thoughts on Maryland.
     
  9. fols

    fols Well-Known Member

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    Some of those suburbs mentioned are very low socio areas & lack good fundamentals for capital growth. Maryland is a fair way out of town by Newcastle standards. For the $500K price point that @Serveman was talking about, I'd by trying to find a way to lift the purchase price to $600K, and getting something closer to city, eg Mayfield.
     
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  10. Propertunity

    Propertunity Well-Known Member

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    They’re cheap for a reason ;)
     
  11. Jazcat

    Jazcat Member

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    Anyone have any thoughts on charlestown?
    I noticed the prices seem to have bottomed out.
     
  12. TylerJamesson

    TylerJamesson Well-Known Member

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    Stick to Mayfield, Islington, Tighes Hill still have a lot of good properties around that you reno and add value.

    If possible aim for the biggest block size you can get.
     
  13. tomlemke

    tomlemke Well-Known Member

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    Your a wise man @TylerJamesson
     
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  14. Chase71

    Chase71 Well-Known Member

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    Hello
    Does anyone have any information or thoughts about CG on Stockton. Started to see a very slight increase.

    Thanks
     
  15. Cmelderis

    Cmelderis Well-Known Member

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    Hi All, looking to buy an IP in Newcastle around August-October this year. Our budget would be <500k we will be travelling over at end of March for a recon so am starting my research now into areas to investigate. I will continue to watch this thread but any areas people would recommend? Long term hold, happy with cf neutral or slightly negative. TIA
     
  16. Curious Johnny

    Curious Johnny Member

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    What are peoples thoughts on Islington ? Does the rental pool in this area seem to be okay with street parking ?
     
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  17. samiam

    samiam Well-Known Member

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    Islington has sailed for a while now
    Should be ok for the long term
     
  18. TylerJamesson

    TylerJamesson Well-Known Member

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    Don't understand why investors try and get fancy when the formula is brain dead simple. ie buy areas where there is high demand from buyers and limited supply of dwellings/land.

    Looks like this one on Kemp Street sold for $2.2m which is amazing.

    See plenty of upside in inner-city suburbs. You'll be laughing in 5 yrs time as walkability and proximity to the city commands a steep premium >>

    https://www.realestate.com.au/sold/property-house-nsw-hamilton+south-132461702
     
  19. tomlemke

    tomlemke Well-Known Member

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    The market seems like it's back to 2017 levels again, we saw a surge just before Christmas with a lot of homes that had been sitting around for a while all being sold.

    Some of the stand out sales in my opinion;

    30 The Terrace, The Hill sold for $3,810,000.
    https://www.realestate.com.au/sold/property-house-nsw-the+hill-132214342

    84 Braye Street Mayfield sold for $840,000 which is huge money, it had been nicely renovated but certainly wasn't in the most desirable part of Mayfield.
    https://www.realestate.com.au/sold/property-house-nsw-mayfield-132517054

    3/2A Helen Street Merewether sold for $1,452,500
    https://www.realestate.com.au/sold/property-apartment-nsw-merewether-132495526

    3 Barker Street The Hill sold for $1,975,000
    https://www.realestate.com.au/sold/property-house-nsw-the+hill-131966378

    Speaking with other agents i know there will be a lot of stock coming to the market over the next couple of months, it will be interesting if all these new listings will saturate the market and level prices out again. One of my colleges had 90 groups through a house in Rankin Park on Saturday which we haven't seen number's like that since the peak of the market back in 2017.
     
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  20. tomlemke

    tomlemke Well-Known Member

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    Huge money for the Western side of Stewart Avenue!
     
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