NSW Newcastle NSW is absolutely booming

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

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  1. RetireRich101

    RetireRich101 Well-Known Member

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    am I the only one smoking tonight? You did say "many" suburbs...perhaps give me 5 sales in any given suburbs of your choice that has done this, and I will let you off the hook on this one :p

    Come on...give me the RE listing or just 5 sales transaction in a suburb that had this extraordinary growth in 2 years...
    "I know of..." is becoming someone I know who does this often... I need solid evidence ALD...
     
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  2. dabbler

    dabbler Well-Known Member

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    I thought 2018 was when it was really gonna BOOM !
     
  3. Biz

    Biz Well-Known Member

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    You must be smoking some good sheet because you're trying to have a logical conversation with Ald.
     
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  4. samiam

    samiam Well-Known Member

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    He is the logistic and statistic guy of pc, he can't just run away :p:p
     
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  5. WattleIdo

    WattleIdo midas touch

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    I might look into it but I think my $ won't stretch that far at this point. I was looking at moving there in early 2014 but didn't make the move because I couldn't drive at the time. I remember looking at places to buy as well as rent in the 2013-14 holidays. Affordable was getting tight and things were already starting to move. That was probably the time to pounce.
     
    Last edited: 13th Jan, 2017
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  6. RetireRich101

    RetireRich101 Well-Known Member

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    I am done with this thread...

    Why would I want to get my boots dirty??.....It's good to be behind the screen playing with the numbers, so i don't get too emotional... at least keeping the *******s honest :p
     
    Last edited: 14th Jan, 2017
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  7. MTR

    MTR Well-Known Member

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    If I had $1 for every time I have heard this comment :)
     
  8. tomlemke

    tomlemke Well-Known Member Business Member

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    Not agreeing with ald, we have had some great growth in Newcastle this is about as good as it gets tho. 4 Beach st Newcastle east, Sold for $1,309,000 27/8/16 purchased for $710,000 in 2013 , literally nothing done. Search Estimated Values and Sales History For Any Property in Australia house-nsw-newcastle+east-122534114https://www.realestate.com.au/property-house-nsw-newcastle+east-122534114 3 identical ex housing commission terraces in Parnell place number 2 sold for $1,400,000 on the 21st may 2016 https://www.realestate.com.au/prope...u/property-house-nsw-newcastle+east-123208694. Number 6 Parnell sells for $950,000 8 months earlier. https://www.realestate.com.au/prope...u/property-house-nsw-newcastle+east-120236337
     

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  9. MTR

    MTR Well-Known Member

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    when you say as good as it gets do you mean the market has peaked?
     
  10. fols

    fols Well-Known Member

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    [QUOTE="Ald,

    13 boronia had a fire in the garage, that entire front verandah is collapsing, get under the house and see the structural issue, I don't know how it passed structural, only in Australia, but beautiful view and tarted up with staged furniture, run away don't touch it, problems for the new owners.

    For some trivia, first property i ever bought was 14 Boronia Adamstown Heights. Bought it for $130k in 1995. Sold it a couple of years later and moved to Sydney. Wish I still had it!
     
  11. tomlemke

    tomlemke Well-Known Member Business Member

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    More referring to Alds claims of 120% growth. I sold this one recently for $510,000 91 Sunderland Street, Mayfield, NSW 2304 - Property Details They paid $289,000 in 2011. I think some areas probably have but Newcastle is made up of so many different markets. I think the inner city housing market still has some steam left. We are getting between 40- 60 groups through the first two opens and generally that's is enough time to have an unconditional contract signed with a offer above our initial estimates. Buyers have missed out on 3-4 properties and just want to secure something is what we keep hearing. Do I think it's peaked? I really don't know I'm not confident in putting any more of my money into Newcastle I already have around 2m worth of property here.
     

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  12. MTR

    MTR Well-Known Member

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    Multiple offers as well I assume?
     
  13. RetireRich101

    RetireRich101 Well-Known Member

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    Thanks for sharing.
    I am convinced that Newcastle East achieved extraordinary growth in the last 3 years..

    upload_2017-1-14_8-25-47.png

    However does this represent the entire Newcastle though.?

    A brief look at RE, Newcastle East is by the water, assumed prestige housing market..

    2013 11 house sold
    2014 12 house sold
    2015 10 house sold
    2016 10-12 house sold

    While other non beach side suburbs had 100 transactions per year.
    upload_2017-1-14_8-23-29.png
     
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  14. tomlemke

    tomlemke Well-Known Member Business Member

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    Thought this might interest you
     

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  15. RetireRich101

    RetireRich101 Well-Known Member

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    house median growth
    2011 335k
    2016 471k
    41% increase in last 5 years
    source (Mayfield Suburb Profile & Property Market Trends)

    Sunderland propert
    2011 289k
    2016 510k
    76% increase in last 5 years

    still short of 40%!!!
     
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  16. tomlemke

    tomlemke Well-Known Member Business Member

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    Yep once we had received offers over 500k people were happy to walk away, After it was sold I had a few people laugh at the price and said that is ridiculous. Photos make it look a lot better then it was. We had 5 offers on this one at $480k $490k $502k $505k $510.
     
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  17. MTR

    MTR Well-Known Member

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    Don't you love booming markets, anyone can make money, just have to make sure you are not the last one holding the baby:)
     
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  18. tomlemke

    tomlemke Well-Known Member Business Member

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    This Is actually my dream location to live, it is very Tightly held as your stats show. This was where Newcastle began and has some amazing history. Most homes are hertiage listed and parking is a nightmare. Not at all with under 500 homes in Newcastle east and a median over $1,000,000 it's far from a good representation of Newcastle. I just feel this suburb and Bar beach would be the closest to some of the growth figures ald was quoting.
     
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  19. bob shovel

    bob shovel Well-Known Member

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    Have a look what see change posted earlier. Might be to late, unless you can find the suburbs that are yet to jump. The surrounds of Sydney already started moving imo....but Newcastle may be slower or started later
     
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  20. WattleIdo

    WattleIdo midas touch

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    Yeah thanks. But then take a look at the graph posted by @Propertunity . I've been watching Newcastle out of the corner of my eye for ages and the question is not whether everything has increased in value, but whether it will continue to do so.
     
    Last edited: 14th Jan, 2017
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