NSW Newcastle 2021

Newcastle is not an apartment market especially in suburbs far from beach - not sure of selling separately. Having said some part of Waratah is full of rental units- don’t have OO appeal. Not sure about commercial property either just not confident about small businesses in that area although Asian grocery could do well

 

That street will eventually gentrify. Needs a few hipster cafe's to get it going.

 

I doubt Waratah will ever be hip (with retirees, nursing homes and basic renters)

 

It's an interesting buy compared with this one down the road, which is a lot lower yield:
https://www.realestate.com.au/sold/property-unitblock-nsw-georgetown-137155974

I think Waratah has heaps of potential with the train, schools, village, and park, and also young first home buyers were swamping the market at all the auctions I went to before lockdown, who will bring gentrification over time. But it's still pretty rough in parts and could be another 20 years away. We just settled on Georgetown as it's more gentrified and family friendly.

I noticed there's a number of empty shops in Waratah, and now 3 empty one's in Georgetown so not sure how much demand there is for these spaces. Lots of hairdressers but no pizza shop!

 

I am not confident about small businesses in Waratah. Btw train- what train?
(p.s I got 2 ip in Waratah)

 

Yeah fair call, perfect place for IP. Ha I think as city swells the train station will be a winner.

 

Sold pretty quick... anyone know how much it went for?

 

Coming up as $1.575m

 

That's what people said about Redfern and Slurry Hills. It will probably take 10 years for this to happen. But being less than 5kms from the CBD I think the ripple effect will eventually change this.. Hamilton will need to go through this change first.

 

I think Hamilton is well and truly there, and Waratah has moved significantly as well. I think the uptick in prices closer in has meant Waratah has been where people have been pushed to, but Waratah has appeal in my opinion. Some crappy streets like everywhere, but I prefer Waratah personally to a large part of Mayfield for example in behind Woolworths, but you won't find anything not on a main road for under $800k in there.

Also, in a first home buyer bracket, young people will probably be looking to stretch to get into Waratah/Mayfield now, or settle for Wallsend or Cardiff, so I think the young buyer is going to be aiming to buy in Waratah.

 

They already bought North Lambton, and are getting priced out of there (and Georgetown went yuppie a while ago), so yeah, Waratah should really be feeling the pressure.

 

What's everyone's opinions of the CBD at the moment and what it's heading towards in the next 5 years? Whenever I walk around & it's getting pumped with new apartment blocks but still so dead in & around the commercial floor level. Newy people don't go to shop in the CBD they go to the Westfields as they're just down the road with free parking. Plus there's not exactly a huge selection of really good cafes or restaurants in the CBD either. So I'm failing to see how it's going to get much livelier or get that buzz back any time soon, but then again I'm not a geographer so what do I know...

 

I dunno, the CBD is an odd duck. I hate Westfields/shopping centres, but seemingly I'm in the minority. I really wish it was better, but that would take some vision and commitment from Local + State gov, as well as investors. I'm not really sure what anyone thinks it could/should be, but there is not much in the CBD to bring people in at the moment.

 

I too avoid shopping centres where possible - especially at present!

The Council is spending significant amounts on the East End public domain works over the next couple of years. This will be completed in conjunction with Iris capital's works as they redevelop the former mall area.
Works to demolish the former King St carpark have commenced and I understand planning for the new public 'Stairway to Heaven' are well advanced.

So hopefully we will see some good new restaurants, cafes and associated businesses establish over the next few years to coincide with completion of these apartments and public domain works.

 

I am regularly disappointed in the CBD. It's so dirty and smelly and disjointed with no real inspirational foresight for the spaces ... I am also meh with the cafes, that can be hard to find, nothing particularly interesting and often expensive

No easy solution ... but The Station is an example. Huge space, amazing old buildings, but not a cafe and only one rather boring private art gallery. I know it's used as a market space, but is vacant the remainder 6.5 days of the week. Art gallery is so small it can display less than 5% of its works at any one time ... where the heck is the museum? I'm yet to find it ... the foreshore restaurants, that were new and vibrant 15 years ago are now looking tired and cheap ... maybe I'm just getting to be an old whinge fart ... but grimy streets surrounded by massive concrete towers is an opportunity missed

 

Not really in the CBD but the multi-arts Pavilion at Speers Point Park looks great! I think that is money well spent

 

Not actively looking atm ... but fingers and pulses and all that jazz. What are thoughts on Warrabrook?

It's not somewhere I've taken much notice of, other than a snobby turn up of the nose in the past, but it's right next 'hot" to Mayfield, 10mins to the cbd and a convenient major intersection at Shortland/Wickam to head every direction of the compass into - and out of - town.

Get a lot of house and land for your money

https://www.realestate.com.au/property-house-nsw-warabrook-137022678

 

Are the train tracks in Hamilton North ending at Griffiths Street all defunct now?

 

Buildings in Honeysuckle evacuated as todays's earthquake shakes Newcastle. Newcastle been subject to earthquakes since settlement.
That's why I would always be nervous living in its city apartments ...

 

I love Warabrook. Feels very safe and family friendly, with a bit more of a multi-cultural vibe. Lots of older people who take pride in their homes and upkeep. Beautiful walking track around water with parkland and playground. Quiet shopping complex with Woolies/bottleshop. Train station. Walk to NSW Uni so good for IP. Would have 100% bought here but speaking to the locals the mozzies/dragon flies are pretty bad in Summer. Great value though if not too close to the big transmission towers. What do other people think of the suburb?