NSW Newcastle 2021

Most of the houses in Lake Macquarie area is going for auction nowadays. In fact houses in kuri kuri and cessnock is also going for auction. Any particular reason why the prices in kuri kuri and cessnock is also shooting up. The house prices in cessnock have increased by 100k in last 6-7 months on average?

 

Off a very low base, still within commuting distance to Newcastle and Central Coast and cheap compared to Newcastle ... also helps that they are an improving place to live

 

But in long term, do you see capital growth in cessnock or kuri kuri? Rental yeild is around 4-5 percent. I couldn't find any news on future development or any govt approved plans to support the growth.

 

Might've missed most of the capital growth this cycle "The house prices in cessnock have increased by 100k in last 6-7 months on average" - but it is still within commuting distance

 

How your suburb fared: surging prices in Hunter's hot property market

Windale is the biggest mover
I think all lemons are out now in this market

 

Amazing result @tomlemke on 34 Mabel St. I noticed it was sold before open home today. Out of interest, was it an unconditional offer? Many bidders? Well done.

 

Thank you! My clients purchased this as a flip in January this year, they had worked on a 900k sale. We showed a buyer through late Friday afternoon, after some negotiations we got them up to $1,165,000.

Yes it was an unconditional offer, it went from offer to sold within 3 hours.

 

Done alright...!

 

Any vote on how much this will be sold for?
https://m.realestate.com.au/property-house-nsw-lambton-136157978

I’d say high 700s

 

New record for Mayfield at $1,530,000

24 Barton Street, Mayfield, NSW 2304
https://www.realestate.com.au/sold/property-house-nsw-mayfield-136067782

 

Looks like federation/historic homes are the new Gold. LOL

Wowwwww

 

Speechless.

 

Did they do a big reno on this @tomlemke ?

 

Thats big money for Mayfield. I think the longer they keep these international borders shut, the more money is just going to keep flooding into property, renos and household Items.

 

I remember looking at a place in Windale quite a few years ago for 280K fully renovated. It was near the bowlo there...so not a bad street. I didnt end up getting it because i just wasnt sure about the suburb. It sold a while after that for around 400K. Now its probably worth 550K Plus. Who even needs tenants when the price keeps rising like that.

 

I also looked at it but decided against. % rise is more than the one I bought in Waratah. But if I bought it, I probably had more grey hair by now

 

Yes a complete gut job renovation, worth a look at it online.

 

Thoughts guys on why this got passed in with no bids? Price seems about right to me... Maybe @tomlemke can shed some light.

https://www.realestate.com.au/property-house-nsw-hamilton-136007710

 

They've done a lovely job - but - suspect the "2" in front was just a little high for the location and block size. High 1's would've been a better aim

 

I would say it's worth around $2.1m in this market

Sadly they lost the entire backyard with the extension as they prob needed to keep it single level to comply with the heritage conservation area zoning in that Lot. It was 'just' inside the HCA zone from the looks of things and they couldn't go up to a second level due to height limits so they just went all the way back to make it 4 bedrooms etc etc