NSW Newcastle NSW is absolutely booming

See what you mean. Seems tighter held on that East side as well...not as much stock sold when you go back through the history a bit. That 25 Dumaresq Street seems like a good buy a couple of years ago...prices have changed alot since then though obviously. Some big numbers there as well on that east side further south...like 104 Kemp Street last year 2 mill!

 

This might help the Newcastle city further.

CONFIRMATION that Japan’s Nihon University has chosen Newcastle as its first bricks-and-mortar Australian campus is another sign of this city’s economic and social rebirth.

Newcastle campus for Japanese university

 

I like the idea of using the city for most of the Uni now instead of out at Callahan. This will help with the revitalization of the city. Focusing on having young people live and study in the city area is smart move to rapidly grow Newcastle to be Australia's next major city. Property in the 10k city area should be a good investment.

This will also bring in more interest:
Revved up and ready to rock with V8s

Revved up and ready to rock with V8s

 

Some new articles coming in about Newcastle:

"Sydney was once the property capital of New South Wales. It was seen as the best place for real estate and interesting properties for a number years. While there are still many that will stay put and continue to put their money into this major city, hedging their bets if you will, others have begun to see the light in a sunny destination a little further up the coast. Newcastle is a harbour city that is starting to gain interest, taking attention away from Sydney and providing a new opportunity for keen investors."

Read full article at Newcastle Property Growth

 

This might be useful to anyone investing in Newcastle with all the floods and climate changes going on in Australia these days it pays to research risks like floods. I would suggest to always buy on a slight hill at least whenever you buy property near the water or a harbor. From this map Beach side areas, Adamstown, New Lambton, Waratah and some of Mayfield look to be the safest areas closest to the city. Hamilton looks quite likely to be flooded in the future.

 

That's a possibility but highly unlikely scenario. What's not out of the question though is what happened 10 years ago with the Pasha Bulka flood. People have short memories it seems. Newcastle is the only market I have ever purchased in where people just don't seem to care about flooding even though they had a major event only a decade ago. Probably because nearly all the highly desirable places are flood prone regardless.

 

A lot of people have forgotten the earthquake that Newcastle had quite a few years ago it's not the only 'quake' to visit the city, there have been a few since it was first settled.

 

There are many areas in NSW that are flood prone, it looks like Queensland is the same. It seems to be happening more than ever so it pays to consider floods when buying in flat areas. I sold a place a couple of years ago just because I was worried about floods. Sure enough the area was flooded eventually.

balwoges, that was just a baby, I have been in ones over 7 while I prefer to not live in high rise apartments anymore.

 

Newcastle is booming. So many apartments. They will be priced like houses in Hamilton south. I see so many years ahead of tears for investors. They need to look at Perth and understand that property there has not doubled in 9 years, in fact it has not even grown in value, they need to understand that jobs and wages drive everything and in Newcastle it's declining. They are living in a confirmation bias.

 

Hi,
Could anyone give any tips about the Macquarie Hills. It seems surrounded by industrial areas. Are the residential areas noisy during the week? Do you think this will affect capital growth in the suburb?

 

Does this mean you have sold out Newcastle and have purchased Perth ( and in particular karrinyup south)?

 

Looks like this 56 Stanley Street finally did sell. Its coming up price withheld....do you know what it went for @tomlemke ? It sold for 1 Mill in 2013 and they had it listed for a pretty bullish 1.79 Mill initally with no renos done....just want to see if they got it.

 

Yep it sold for $1,475m which is pretty close to my 200k to 300k overpriced call. They still haven't sold Pulver street, just goes to show as hot as the current market is if it's not priced correctly it still won't sell.

 

@Ald was renting in Hamilton south

 

We bought west side (of both Stewart AND Gordon!) as it was several hundred K cheaper than east side. What we have found is that there are more young families over here - we are surrounded by school friends, and it is a lot quieter. We are pretty close to Learmonth park too.

Our land value has allegedly gone from just over $400k in 2014 in 2013 to ~$575 now... Unfortunately it is well and truely renovated, and as mentioned above, I would have paid over for a blank slate Anyway, a bit of love and care and it will brush up nice - a decade or 2 of being a rental has left it a little weary to say the least!

A place went on the corner of Lawson and Turnbull that I would have loved to get hold of, but we had just moved in to this place, and had just bought some properties in Mayfield, plus my wife said "NO WAY ARE WE MOVING AGAIN!'... I was expecting it to go WAY out of my potential price range, but it actually just went for slightly above my price range apparently on the first open house they accepted the first unconditional offer over a mil, which was 1.02m I believe. But good solid house, decent sized yard, side access to double garage, north facing rear yard, plenty of potential for life long residence.

cheers,
inertia

 

I remember the agent saying at the 56 Stanley Street open that he estimated the land value there was 900K! So your land value may be worth more than 575K if what he said was correct. No internal house photos of that one on corner of Lawson and Turnbull so hard to say how much reno was needed...but said it was immediately livable. Yes looked a good buy with the block size and dual access compared to everything else going around there.

 

Did you buy development site in Mayfield? I want to get one there but hubby said no more IP for another 12 months

 

Might get knocked down that one. 177 lawson street across the road from the park on the corner which is similar to this one was bought for 830k.

Nice spot round there.

 

It might be heritage listed like a few of them around there. The front of that 56 Stanley street one was.

 

Mayfields certainly very popular at the moment. I went to absolutely packed open house at one there last Saturday. When did you buy in Mayfield @inertia ?