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NSW Newcastle NSW is absolutely booming

Discussion in 'Where to Buy' started by Ald, 28th Nov, 2016.

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  1. Ald

    Ald Well-Known Member

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    Newcastle, it seems is the place to be chucking down your coins on a property. House prices are staring to be going through the roof soon. Locals can't even compete with the investors. It's a buyers absolute frenzy out there. The millionaires that are going to be created from this! So much wealth, so much wealth, just pouring into Newcastle. Just buy a property and hold it for a year, you will make a killing is what people are saying.

    The flocking of people to home opens is crazy. Have not seen anything like it in a decade. 20 people per home open all chucking down offers. And the buyers are seasoned pros. They Know why they are doing it.
     
  2. lightbulbmoment

    lightbulbmoment Well-Known Member

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    Yes it is. You could of bought a house in merewether in 2012 done absolutely nothing to it and doubled your money if sold today.

    Eg 45 turnbull street merewether 645000 sold 2012 comparable sale 27 turnbull street sold 1320000 2016 unrenovated.

    Capital growth suburbs have fired...
     
  3. Ald

    Ald Well-Known Member

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    Just stop writing and go buy more properties in Newcastle. Don't waste a moment.
     
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  4. lightbulbmoment

    lightbulbmoment Well-Known Member

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    Haha sorry you missed the boat ald but i've got mine
     
  5. krispy

    krispy Well-Known Member

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    Yep all good here too. Sorry Ald. Not sure what the reason for this post is and i suspect you wrote it with a sarcastic tone considering your past posts about Newcastle ?
     
  6. Ald

    Ald Well-Known Member

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    I can't believe how crazy prices have been in the last year and especially this last 3 months.

    Compared to 2015 June for homes on blocks.
    Adamstown heights increases of $120k to $200k on any property.
    Kotara, Charlestown increases of $100k to $160k and climbing fast
    Hamilton South, Cooks Hill, increases of $300k to $600k on any property.
    Merewether increases of $200k to $400k
    New Lambton and Adamstown $300k to $600k

    Vacancy rates in these suburbs are basically zero and bidding happening on rentals.

    The place is booming and boots on the ground it's just speeding up.
    There are lots of developments in the defence and aerospace and aviation sectors. Lots of construction. A couple of new mines starting up. There are Sydneysiders at every home open and at every home open there is a horde of people. 20 -30 groups.

    Newcastle has another two years of growth left. I see prices going up everything I mentioned I expect will be another $200k -$400 more expensive in 2 years time.

    I have not seen anything like this since Perth 2005 when prices were going up $10k from weekend to weekend.
     
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  7. Ald

    Ald Well-Known Member

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    Property in Adamstown heights for instance.
    Fairly ordinary, 3 bedder, staged furniture, nice views,
    Sloped block, house down from the road, steep driveway, no garage

    3 home opens probably about 40 people at each one.

    It's bat crazy out there. People are in a real buying frenzy.
     
  8. Ald

    Ald Well-Known Member

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    Another in Highfields recently, owner listed at $510k he got $620k.
    People are buying properties in Newcastle like hot cakes.
    Sydney is leaving Sydney and moving to Newcastle.
    Every Sydneysiders and his dog wants to live in Newcastle. They sell a 2-3 million property in Sydney and come live the dream in Newcastle.
     
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  9. devank

    devank Look, lets just get on with this, ok? Premium Member

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    Yes. Few agents are asking us to sell a house in Ashtonfield. Promising good money.
     
  10. bob shovel

    bob shovel Well-Known Member

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    How's lake munmoron going? Only ever heard positives
     
  11. Ald

    Ald Well-Known Member

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    Newcastle's inner suburbs and coastal suburbs have grown an absolute minimum of 120% in the last 6 years.
     
  12. Biz

    Biz Well-Known Member

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    So does this mean you picked up a couple of properties and are now hyping the market there Ald pal?
     
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  13. beertank23

    beertank23 Well-Known Member

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    No ALD sold everything and went into his underground bunker to ride out the impending apocolypse back in September.
     
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  14. Ald

    Ald Well-Known Member

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    Nope

    I am munching on popcorn watching the sydneysiders investors use the equity in their Sydney homes to buy Newcastle at a median of $700k and Lake Macquarie at $695k. I am watching and enjoying myself.

    It's still booming, it's so on the boil now, it's unbelievable. I went to a few home opens recently to get a feel for the market. People walking through in orgasmic buying frenzy chucking their coins down to buy the next property. It's going to continue until 2018 at least.

    Lots of money to be made in Newcastle. Lots of rich people in a years time.
     
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  15. Ald

    Ald Well-Known Member

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    I am investing in Perth at the moment. Bigger gains to be made there.
     
  16. Blueskies

    Blueskies Well-Known Member

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    Awesome line, but sounds messy!
     
  17. Ald

    Ald Well-Known Member

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    Newcastle has just had the iris group buy a several cbd blocks in a 1.44 hectare site from GPT for 39 million. They will build new buildings there, 500 new apartments, loads of retail and office space.

    Apartment glut? What apartment glut, every apartment in Newcastle is sold off the plan and you need to chase the buyers off with a stick.
    Property in Newcastle is being chased like an Australian cricketer by the Sheilas chucking their panties at them. What has happened on the ground in the last 3 months is just bat crazy.

    There are many big projects coming up, mines that are to be built and expanded nearby, coal demand is increasing, major defence contracts , huge road projects, cbd buildings, a doubling of the student population, massive health care expansions and aged care expansions, cruis ship terminals, businesses opening to service heavy industry and mining, airbase being upgraded, bridges being built, hunter expressway being built. New university campus in the CBD and another planned.

    Try and buy a house on a big block of land in Hamilton South or cooks hill or the hill ? People are offering $200k over the suburb maximum price and still home owners are ignoring to sell.

    I go to home opens on a Saturday and the tens of different Sydney Siders I chat to are all in hotels Friday night before getting ready to view properties on Saturday. Rentals are impossible to find, it was easier to get a rental after the earthquakes in Christchurch. Newcastle is just absolutely jet booming.

    More Sydney equity here then anywhere else. .

    I see a Newcastle median house price of $800k in May 2017. It will go up 100k so quickly and it won't stop until it's about $900k and then it will just maintain its course.

    Newcastle is a safe place to keep on buying anything that is for sale.
     
  18. See Change

    See Change Timing Lord Premium Member

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    yep...

    Newcastle's just behind Sydney , so buying now is way too late IMHO

    However ... a little bit further up the coast , the market is just starting to wake up .

    You could buy this Waterfront property with it's own beach for under 800 K
    and you have missed out on this property which has three blocks over one acre on what I felt is the best position in the area which sold for around 1.4 . All under two hours from Sydney and once the Hexham bypass goes though , closer to 90 mins .

    Warning though , North arm cove and Newcastle boom , but when they stop , they stop ...

    North arm cove is a life style investment , though our friend who picked up a subdividable block on the waterfront with a jetty for under 400 is doing pretty well .

    Cliff
     
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  19. Tenex

    Tenex Well-Known Member

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    I wonder if there is any information available on land subdivision / council rules on what can and cannot be done across the more popular suburbs of New Castle.

    Does anyone know?
     
  20. MTR

    MTR Well-Known Member Premium Member

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    @Propertunity the expert in this area, what do you say? Sounds like something is happening:)
     
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