NSW Newcastle 2020

It Would depend on What part, I would avoid 90% of the suburb, PM if you are looking at something and I will let you know my thoughts.

 

Tourle street, which is pretty much where Mayfield West begins, and Buruda st seem to be ok. Within walking distance of Mayfield West Public school and the before mentioned businesses on the Pacific Highway. That's just for further consideration and not outright advice though- I've stayed in Mayfield on many occasions but don't know it as well as the locals.

 

The Market is still really strong, two great results for period homes that need updating.

Sold for $2,080,000

77 Tooke Street, Cooks Hill, NSW 2300
https://www.realestate.com.au/property-house-nsw-cooks+hill-134861674

Sold for $1,926,000
13 Stanley Street, Merewether, NSW 2291
https://www.realestate.com.au/property-house-nsw-merewether-134860730

 

Sounds about right @tomlemke - would need to spend around 400-500k to do a high end internal reno on kitchen, bathrooms, joinery, living areas maybe add a pool which would bring the valuation up to $2.6m-2.75m

200sqm internal reno at $3,000+ per sqm if you were doing it at a high end.

The Stanley Street one had a good block and potential for a MULLET heheh

 

Any idea how much an approx standard internal reno costs per sqm?

 

I would say a standard Bunnings reno ie where you source most of your off the shelf materials from Bunnings would be around $1250-$1500.

If you’re looking at a custom high end Reno using architectural fixtures and fittings which Bunnings doesn’t really carry you’re looking at double that as a starting point. Just to give you an example...

These posh door handles are $150 each - Bankston 0320_ Door Lever Annecy Round Rose Pair | Keeler Hardware

High end tap ware $600+ - Brodware | brands | Cass Brothers Australia

 

That's really helpful, thanks for that. A bit more expensive than I anticipated, makes me appreciate other people doing the work even more!

 

Is there anything at all within 600k budget in Newcastle?

 

Depends what you're after. Go to realestate.com.au ... put in Greater Newcastle ... max $600,000

Those is the result for houses only:

https://m.realestate.com.au/buy/pro...000-in-newcastle+-+greater+region,+nsw/list-1

Even more of you leave the "property type" open

 

Two big results in the New Lambton school zone:

$1,160,000
Sold 34 Carrington Parade, New Lambton NSW 2305 on 21 Nov 2020 - 2016583682 | Domain
- Bought by an investor who lives round the corner

$1,030,000
54 Portland Place, New Lambton
54 Portland Place, New Lambton NSW 2305 | Domain
- Bought by a younger (presumably owner occ) couple

Has anyone else noticed the hard differentiation in demand between New Lambton properties inside and outside of the school zone border? It’s approx. a 10-15% premium in 2020’s market by my calculations.

 

That's a rather "piece of string question". There is a huge difference between a paint, new carpet, change of bathroom tapware and maybe some new kitchen cupboard fronts - and - a complete gut and rebuild.

Kitchens and bathrooms are your most expensive areas

 

Everything is expensive if you're going high end custom interiors. One-off architecture + interior designs like these are $4000 up to $10,000 a sqm.

It all costs $$$ if you're doing something that is timeless and beautiful. The reason why it costs so much is that it's really hard to create modern perfection.

You need to start with the finished design on paper and then work backwards. Also not too many trades in Newcastle that can do super high-end detailed builds... there is GTS Construction but that's about it. You need an eye for detail like no other for this kind of stuff...

Work — Madeleine Blanchfield Architects

Studio Bright | Ruckers Hill House

Studio Bright | Perimeter House

 

Thanks @Lizzie , will do some research on which out of these suburbs are good as per socio economy and gentrification

 

Completely agree Declan. I've been watching this market for a while and it's nuts. Definitely helped along by the contraction in the school zone in August.

Big money here for bigger blocks at the moment....

 

I've noticed this too. Some houses previously in New Lambton PS Zone now in Wallsend South PS Zone. Was talking to an agent who said they'd sold homes to families specifically to be in NLPS zone who are now looking at moving again as they aren't in zone anymore and their kids hadn't yet enrolled in the school.

There does definitely seem to be a premium for this school compared to Lambton PS or New Lambton South PS.

 

Why not send kids to Catholic or Private school and live where you want to live? It’s not that expensive going private.

 

Hi,
I’m new here and looking to buy my first IP in newcastle and surrounding.
What does the consensus on Cardiff vs Cardiff south? Cardiff south being 5 minutes further away from town center, uni, and major shopping center. However, interestingly prices seems less variable and slightly higher than Cardiff?
Thanks.

 

is there a Newcastle 2021 thread?

 

Newcastle 2021 [NSW]