NSW Newcastle 2021

I'd personally prefer a crappy shack in the warmer weather than a palace in Geelong... but yeah for continued capital growth you'd think there needs to be jobs with higher incomes to service the higher loans. Not sure proportionally how many high paying jobs there are in Newy compared to the bigger capitals... a friend who is a manager at Newcastle Council said they struggle to fill positions as many people from Sydney who fancy a sea change are interested until they find out how much lower the pay is than Sydney and there's often no company car either, so a number of them instead keep their higher paying jobs in Sydney and buy in Woy Woy and surrounds instead.

Did you consider a place commutible distance from Brisbane?

 

I said the same thing to myself when I was renting in Maryville after I finished uni (~2001) and a place sold for $200k. "No way would I pay that in MARYVILLE!!!!"

But to be fair, yeah, it has gone nuts of late. Lots of Sydney money - someone quoted a stat (was it on here or IRL?) about the migration number from Syd to Newie are up over 20% on 2019. I think Sydney money, or someone selling and buying in the same market are driving/maintaining prices. I would expect them to soften and plateau (soon I hope!) but I am not sure they will drop any time soon if at all.

 

The other one we looked at just sold. It quoted 670-730k and sold for 951k
32 Knight Street, New Lambton

 

Yeah, that one was another huge turnout, that was never going for anywhere close to that guide.

What are people's thoughts on how this recent lockdown will impact the Newcastle market in the short term?

It seems that the stock is low, there are still plenty of buyers out there, and surely the lockdowns are adding more fuel to the fire to potentially get out of the lockdown zone of Sydney to a place offering a great lifestyle that is still commutable? When this Sydney lockdown ends could there be another spike in demand?

I am on the Central Coast and I cannot wait to get out of this greater Sydney area to Newcastle. I see it as another reason to make the move, but I have been planning to move regardless. So I wonder if others who weren't thinking about it might entertain the idea in the future.

 

I think we may see a spike in enquiry from Sydney once the LD ends, whenever that is.

But I don't think we'll see a spike until the lockdown ends and people are fed up and want to get out of Sydney, which is pretty much what happened to Melbourne post lockdown.

Lets see what happens come spring.

 

It's going to be interesting to see what this one actually goes for:
https://www.realestate.com.au/property-house-nsw-hamilton-136724658

I wonder if the scissor lift will be included in the sale? This house traditionally has ridiculously OTT xmas decorations

 

I think around $3m is pretty close to the mark. Its a massive house and a massive flat block of land for the location.

Amazes me that people are asking $3.5m+ for old places in New Lambton while this place on Everton Street is $2.95m, same size block, close to town and walk to cafes, transport.

 

https://www.domain.com.au/30-silsoe-street-hamilton-south-nsw-2303-2016968685

This one has sat on the market for a while, amazing home as well.

 

That one I can understand the price, and would have thought it would be snapped up by now.

The Everton St property I think is a bit over-done (not the house itself, but all the garage/poolhouse/undercover desk) - doesn't leave much for personalisation without knocking down structures.

 

That's true! I have heard of stories of people who have moved from Melb to regional Vic already now wanting to return, as 1) they are too far from friends/services, 2) they are sick of commuting even if only 1-2 days 3) the prices in regional Vic are now not much cheaper than Melb anyway. So I think the longer term picture will be super interesting, as in will Covid permanently change the regions or will suburban life return as normal in 2-3 years...

 

They are both "interesting" houses but don't have wide appeal. Suspect those with $3mil to burn may be looking at something closer to the beach, or more in town, without upkeep

 

Hi @Lizzie

So much for Hamilton not booming and still lagging behind Wickham and Maryville. Brick Federation homes look to be in hot demand.

Seems to be pretty close price wise to Hamilton South, Cooks Hill, outer Merewether if we go by the recent sales/listing and per sqm basis.

63 Chatham Road Hamilton - https://www.domain.com.au/63-chatham-road-hamilton-nsw-2303-2017131098

139 Everton Street Hamilton sold for $2.0m >> https://www.domain.com.au/139-everton-street-hamilton-nsw-2303-2017079904

 

I am looking at investment properties in Newcastle. Just wondering what do people think about Waratah? Good capital growth potential?

 

Wowzers -- 63 Chatham Road Hamilton sold in one day!!

$2.05m

https://www.domain.com.au/63-chatham-road-hamilton-nsw-2303-2017131098

 

46% Capital Growth in last 5 years. There would be suburbs with better capital growth potential in Newcastle but will still do well over the long term in my opinion.

What’s your budget?

 

Thanks for your insight.
I actually bought recently, but want to see what everyone thinks about this location

 

What's suburbs would you be looking at with $1 to $1.5M budget @Shamrock1?

 

This one sold for 755k at auction. I thought it would have gone for more.
https://m.realestate.com.au/property-house-nsw-waratah-136628774

 

With $1-$1.5M I’d be buying a decent sized block in the middle ring suburbs Lambton, New Lambton, Georgetown, Hamilton or Adamstown.

 

If I was shopping in that price bracket, I'd be all over the 2 below. Both in nice streets in a good suburb, room to improve, some character, bigger blocks, street appeal, they tick all the boxes.

https://www.domain.com.au/26-illalung-road-lambton-nsw-2299-2017128102

https://www.domain.com.au/68-durham-road-lambton-nsw-2299-2017101023