NSW Newcastle the next major city

Whilst Sydney Taxi plates prices have plummetted , Newcastle taxi plates have started to rise.currently theres no Uber there.

low incme areas with plenty of pubs etc are the best areas for a Taxi business.

My goal in the next few years when i get my redundancy is to sell my Sydney Apartment buy a 4 bedroom near jesmond and rent out the rooms and buy a taxi and drive a few days a week there.

 

And joey Johns...

 

Computer says no

[source: Department of Planning and Environment - Population Projections]

 

And princesses, because they don't do stairwells.

(it's a local joke for local people, there's nothing for you here).

Cheers,
Inertia.

 

same same.

 

I'm still waiting for evidence that I should sell up in Newcastle.

 

I'm happy with the de-hype Newcastle approach as I'm looking to buy...

Cheers,
Inertia.

 

Carrington will be under water in 40 years.

Cause I'm a nice guy I'll give you 250k for your place. You'll thank me later. No one moves here, there's no demand. There's no hospital or university. No major legal precinct being built. No investment from the private sector. No businesses moving up here. It's a horrible place that doesn't even have electricity and the taxi ranks are a scary place.

Stay away. Stay away.

 

With all due respect these are miserable growth projections. And further they don't indicte what type of person is moving there.

Something really fundamental would need to happen before places like Detroit and Newcastle recover. Not impossible but pretty unlikely.

 

Housing approvals do not meet this "miserable growth" as it stands
NSW in 2031: Newcastle, Lower Hunter and Central Coast must plan to grow

Which seems to indicate a solid base for investment.

Also, the projections are already proving inaccurate, with intra and inter state migration currently at higher levels than projected (i.e. more people are moving in to the lower hunter region).

 

What about Gold Coast? What are the fundamentals that would encourage you to buy there? Does Newcastle have less fundamentals than GC? You haven't given any evidence but broad statements.

 

1-2% growth rate is excellent for a city.

Comparing Newcastle to Detroit is a bit of a stretch...

 

The growth rate of the nation was 1.4% so it's not too bad at all.

Don't invest in Australia. It's the Detroit of the world!

 

Again it's quality of population growth that counts. Ideally you want highly productive people, in industries leading to economic growth. Will this be what happens in Newcastle? Maybe, but I don't think it's likely.

 

Where's the evidence @big max? You said a lot about buying in Gold Coast. Between GC and Newy which has better quality population? Which has better productive growth? I'm yet to be convinced.

 

The 2 major employers in Newcastle are the university and John Hunter Hospital. It's no longer the steel mills and that's all there is. It's changed huge amounts, event in the past 5 years I've been living here (and I moved from Sydney, and like to think I'm productive).

Your argument is akin to saying only bikies move to the Gold Coast so it's a bad place to invest.

 

Ok, I am just going to come out and call it.

I think big max my be the next evolution of Star of David and Darlo boi.

 

Where is the Jewish connection with "big Max"?

 

Jewish has been done to death he has now moved on to white collar bogan.

 

Noted there is a Uni and a hospital there. What you really should be asking though is are these facilities growing? Are there any plans for any new large scale facilities that would create employment, increase population and increase economic growth? Potential for Asian investment? Pretty much zilch. Increase in tourism? Nominal. Increase in cashed up retirees from Sydney? Possibly a little.

Just being realisic guys. I hope Newcastle prices go up for anyone who has invested. But if we are after where the best place to invest is, say next 5 years, I doubt it's Newcastle.

As bikes, for the vast majority of cities their presence is undesirable from an economic and social perspective. Cities would do well to keep them away as best they can.