NSW Newcastle Property 2016

Discussion in 'Where to Buy' started by Jeah_, 2nd Jan, 2016.

Join Australia's most dynamic and respected property investment community
Thread Status:
Not open for further replies.
  1. Jeah_

    Jeah_ Well-Known Member

    Joined:
    30th Jul, 2015
    Posts:
    191
    Location:
    Newcastle
    {Note: thread continued from here: NSW - Can we start a Newcastle thread}

    Been back on the ground in Newy for the last week or so. First time in a while since we have relocated. We've been eating out a lot and getting around a lot of the city that we probably didn't look at so much when we lived here, just because we lived here and it's so easy to get in your daily groove with blinkers on.

    Went into Carrington for lunch today and there was a bit of a buzz. Lots of people in the cafes. Went down to Hunter street mall for some Gelato and a walk along the foreshore. It was very alive, good mix of tourists and locals. Lots of full Cafes at lunch. Pretty good vibe actually compared to last time I was in the mall on the weekend (over 12 months ago), beaches were crowded, lots of people out enjoying a beautiful Newy day.

    Had lunch on Beaumont street on Thusday and found it similarly busy for a New Year's Eve. Lots of tourists and locals. Every time we went to one of the major shopping centres, there were crowds. Talking to a few of the retail shops, they've had a very decent Christmas trade.

    I think Newy isn't all nay-say and doom and gloom at the moment. Underneath her heart is still beating strong. Neighbours of our old PPOR put their place on the market last week of November and it sold a week before Christmas. They got better than their asking ($495k for a 3/1/2 25yr old brick two storey a couple of minutes west of JHH)
     
    Last edited by a moderator: 19th Nov, 2017
    larrylarry likes this.
  2. Gpw

    Gpw New Member

    Joined:
    6th Jan, 2016
    Posts:
    3
    Location:
    Nsw
    I am looking to buy a villa in mayfield as an investment. Should I or shouldn't I buy in this suburb? It would appear that most of newcastle is a flood prone area. Mayfield seems like a good location due to its close vicinity to city, uni etc, and imagine it would be easy to rent out there??
    Looking for some insight from you people who know the area.
     
  3. Propertunity

    Propertunity Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,476
    Location:
    NSW
    Based on historical CG it is an excellent area to be buying into IMO. (We buy there a LOT). It is undergoing gentrification. Whether you should buy a particular villa in a particular street is an entirely different (although related) question.

    Untrue. Even in Mayfield, the north side of Maitland Rd is not flood affected at all. The flood maps were redrawn after the 2007 flood event when the Pasha Bulka washed up on Nobby's Beach. Some areas designated "flood fringe", when you make actual enquiry at NCC you find they have never actually had water on them.

    You may imagine too much. Due to its popularity as an investment hotspot many properties were purchased by PI's which flooded the market with rentals. It was taking 4-6 weeks to rent out a property during last winter for example. You must check vacancy rates before blindly going in. Also check the type of property you are proposing to buy is what people renting or buying into the area actually want. What is your target audience for a rental? and buy with that in mind.

    Hope this helps.
     
    Moych and Biz like this.
  4. Moych

    Moych Well-Known Member

    Joined:
    3rd Sep, 2015
    Posts:
    68
    Location:
    NSW
    Alan is correct, a lot of the flood maps around Newcastle are already accounting for a 0.9m sea level rise as a result of global warming, and the probable maximum flood levels (assuming that there is a rise in sea levels and the flooding occurs at a high tide). That would probably account for the flood fringe areas and also as a conservative estimated for any localised impacts during an event, for instance if a major stormwater culvert is blocked by a shipping container as occurred during the Pasha Bulka storm.

    If you're around Newcastle at the moment you can check out the property and have a good idea of any probable flooding. We had 200mm of rain until 9am this morning and parts of town are under water. One of my colleagues sons lives in Mayfield and his house is fine.
     
    Propertunity likes this.
  5. Gpw

    Gpw New Member

    Joined:
    6th Jan, 2016
    Posts:
    3
    Location:
    Nsw
    Thanks so much for your input, much appreciated. Any particular streets that should be avoided?
     
  6. Moych

    Moych Well-Known Member

    Joined:
    3rd Sep, 2015
    Posts:
    68
    Location:
    NSW
    Generally speaking the area between the railway line and Maitland Rd would be the highest risk areas, but again not all of it would go under. However, its probably best to avoid being close to the storm water culverts that feed into Throsby Creek.
     
  7. Mr Dabolina

    Mr Dabolina Well-Known Member

    Joined:
    25th Jun, 2015
    Posts:
    155
    Location:
    NSW
    Key points?
     
  8. Newyproperty

    Newyproperty Well-Known Member

    Joined:
    11th Sep, 2015
    Posts:
    77
    Location:
    NSW
    Are there still deals in mayfield? I can see some huge gains over the last 5 years in that area.

    I was looking at the NW side of the HWY
     
  9. tomlemke

    tomlemke Well-Known Member Business Member

    Joined:
    21st Jun, 2015
    Posts:
    950
    Location:
    Newcastle
    Newcastle market seems strong again after slowing down in december, we had 10 people on thursday afternoon at a New Lambton heights house which is pretty good considering it was 42degree still at 4pm. We got 2 offers on friday and 25 people through it today.

    20 people showed up to an open at another house in New Lambton, but the tenants claimed no one told them about the open and refused to let anyone in. That made things interesting for me i had to explain to everyone why they were not allowed in side.

    Hopefully we continue to see numbers like these, now I'm working in the industry if anyone wants to know anything about any areas just let me know : )
     
  10. tomlemke

    tomlemke Well-Known Member Business Member

    Joined:
    21st Jun, 2015
    Posts:
    950
    Location:
    Newcastle
    I personally love mayfield, id stick to mayfield east beautiful victorian/ art deco places on big blocks. Still very affordable compared to most other parts in newcastle.
     
  11. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,386
    Location:
    Sydney
    How's your new gig?
     
  12. tomlemke

    tomlemke Well-Known Member Business Member

    Joined:
    21st Jun, 2015
    Posts:
    950
    Location:
    Newcastle
    Loving it mate, so good to be doing something I'm passionate about. Cold calling was the hardest hurdle for me I've managed to line up 3 valuations for this week.
     
    larrylarry likes this.
  13. Raydar

    Raydar Well-Known Member

    Joined:
    6th Jul, 2015
    Posts:
    305
    Location:
    Newcastle NSW
    So when is the next 'meet up' in newie. I haven't logged on for about 4months now. Need to start getting my hands dirty again.
     
  14. Propertunity

    Propertunity Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,476
    Location:
    NSW
    Glad you are loving your new role. Just a tip you do "market appraisals" not 'valuations' (unless you are a registered valuer). ;)
     
  15. Propertunity

    Propertunity Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,476
    Location:
    NSW
    @AndrewTDP normally organises.
     
    Raydar likes this.
  16. AndrewTDP

    AndrewTDP Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    764
    Location:
    Newcastle
    Just landed back in Sydney last night. Give me a few days to get my emails sorted.
     
  17. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,386
    Location:
    Sydney
    Welcome back Andrew. After 6 weeks of holiday I am now seeing even higher prices in mayfield and new lambton. The new stock looks better too I think. Am I seeing correctly?
     
  18. tomlemke

    tomlemke Well-Known Member Business Member

    Joined:
    21st Jun, 2015
    Posts:
    950
    Location:
    Newcastle
    Yep wrong wording there thanks @Propertunity
     
  19. AndrewTDP

    AndrewTDP Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    764
    Location:
    Newcastle
    I think for a change they are pricing accurately...
     
    larrylarry likes this.
  20. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

    Joined:
    28th Jun, 2015
    Posts:
    858
    Location:
    Darlinghurst Sydney
    Islington doesnt seem as expensive as last year.
    Windale has dropped back to low 300's.
     

Price Accounting provide investor + developer tax services world and Australia wide for your property and all tax issues. Contact Paul@PFI below for our new client pack and quoted pricing + client portal access. Trusts, Co and SMSF are our specialty.

Thread Status:
Not open for further replies.