NSW Newcastle 2020

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

Join Australia's most dynamic and respected property investment community
  1. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    2,126
    Location:
    on my way
    {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
    tomlemke and DoggaPP like this.
  2. Serveman

    Serveman Well-Known Member

    Joined:
    17th Apr, 2017
    Posts:
    1,413
    Location:
    North West Sydney
    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?
     
    DoggaPP likes this.
  3. DoggaPP

    DoggaPP Well-Known Member

    Joined:
    23rd Jul, 2018
    Posts:
    319
    Location:
    Lake Macquarie NSW Australia
    Our PPOR is in Eleebana - prices definitely declining.
     
    Serveman likes this.
  4. Niche

    Niche Well-Known Member

    Joined:
    6th Jun, 2019
    Posts:
    119
    Location:
    Newcastle
    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.
     
    Serveman likes this.
  5. Niche

    Niche Well-Known Member

    Joined:
    6th Jun, 2019
    Posts:
    119
    Location:
    Newcastle
    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
     
    Serveman likes this.
  6. fols

    fols Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    737
    Location:
    Sydney
    I wouldn’t touch these areas.
     
    Lizzie, Tom87, tomlemke and 1 other person like this.
  7. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    2,126
    Location:
    on my way
    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..
     
    Niche likes this.
  8. Edd

    Edd Active Member

    Joined:
    8th Jul, 2019
    Posts:
    35
    Location:
    Newcastle
    Hi @fols , why not? Keen to hear your thoughts on Maryland.
     
  9. fols

    fols Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    737
    Location:
    Sydney
    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.
     
    Propertunity likes this.
  10. Propertunity

    Propertunity Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,476
    Location:
    NSW
    They’re cheap for a reason ;)
     
  11. Jazcat

    Jazcat Member

    Joined:
    16th Feb, 2019
    Posts:
    12
    Location:
    Newcastle
    Anyone have any thoughts on charlestown?
    I noticed the prices seem to have bottomed out.
     
  12. TylerJamesson

    TylerJamesson Well-Known Member

    Joined:
    15th Feb, 2016
    Posts:
    409
    Location:
    Australia
    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 Business Member

    Joined:
    21st Jun, 2015
    Posts:
    950
    Location:
    Newcastle
    Your a wise man @TylerJamesson
     
    George O'Brien and TylerJamesson like this.
  14. Chase71

    Chase71 Well-Known Member

    Joined:
    5th Jan, 2018
    Posts:
    54
    Location:
    Under Your Bed
    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

    Joined:
    10th Sep, 2015
    Posts:
    480
    Location:
    Perth
    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

    Joined:
    19th Sep, 2019
    Posts:
    10
    Location:
    New South Wales
    What are peoples thoughts on Islington ? Does the rental pool in this area seem to be okay with street parking ?
     
    TylerJamesson likes this.
  17. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    2,126
    Location:
    on my way
    Islington has sailed for a while now
    Should be ok for the long term
     
  18. TylerJamesson

    TylerJamesson Well-Known Member

    Joined:
    15th Feb, 2016
    Posts:
    409
    Location:
    Australia
    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 Business Member

    Joined:
    21st Jun, 2015
    Posts:
    950
    Location:
    Newcastle
    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.
     
    Tom87, samiam, The Prestige and 2 others like this.
  20. tomlemke

    tomlemke Well-Known Member Business Member

    Joined:
    21st Jun, 2015
    Posts:
    950
    Location:
    Newcastle
    Huge money for the Western side of Stewart Avenue!
     
    TylerJamesson likes this.

Buy Property Interstate WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia