NSW Newcastle the next major city

@larry - ah, ok noted.
@tom - I don't want to derail this thread but am happy to answer in more detail on the official Gold Coast thread here:

Gold Coast Property News - official thread

I think there was also another thread specifically on Gold Coast and CG games discussion somewhere. But in a nutshell, yes the games and all the infrastructure and related publicity is positive but it's just one piece of a much larger long term positive scenario.

 

I too looked at Central Coast and Newcastle since July but decided on CC (Lakehaven, San Remo etc) after speaking to other investors and walking the ground. So I'd like to think I've done enough DD.

Look for me personally I would of made a loss if back in July i purchased that Lorna Ave Waratah property for 420k or the houses in Jesmond that are still for Sale.

Having said that I still will purchase a house in that area but I know it probaly wont have much CG.
And I would love to see any statistics on population growth in Newcastle, where do I get these? Has the pop been growing or declining ??

 

Newcastle has not slowed down. Depending on the area, decent houses are hard to come by and gone really quick. Personally I would not consider renting in Jesmond area again- our rental house (near new town house) was broke in twice in 2009/2010 - we didn't know the area then.

 

from recollection, none of us on Newcastle threads looked at jesmond. In fact, @Propertunity advised other posters against it, you were bent on looking at jesmond. What's your point in labouring on your decision not to purchase Lorne Ave, jesmond? Move on. Jesmond is not Newcastle. It's one of the suburbs under NCC.

 

Another step closer for international flights into/out of Newcastle, funding for the customs/immigration building confirmed and negotiations with several airlines progressing.

Newcastle Airport’s international wings closer

 

Thanks @Tekoz sorry about the long delay had family away in NZ for much needed break, and promised not to spend all my time on laptop!!! Happy to discuss Wgong but not sure it is needed here as a "newy vs Gc vs Wgong" type debate. My view is they are 3 good markets at this moment worthy of consideration. Newy and Wgong are not at the bottom of a classic cycle anymore, kind of each mid way perhaps, but both with potential. Each have different drivers but money can be made in all of them if you do your research. (and lost if you don't)

Not sure how they arrive at 1%. It was panic stations for buyers overheated in May-July and has settled down into a more normal feeling market now but prices are still rising in my sub markets. I have a client with a delayed settlement and a comp sale just surfaced showing he may have made 80k since May.

 

@Moych I love your profile pic. Is he your alter ego?
PS QUIZ: Who Said It, Tony Abbott Or Alan Partridge?

 

Ha, Thanks Matt. That page is brilliant!
I like all of Coogan's stuff, but Partridge is definitely one of the best...

 

Geez mate i dont know what newcastle did to you but you seem to have a strange opinion. You mention that newcastle is full of bogans and what not however you bought a house down the havens.. mate thats where you go to get your car burnt out.
Downturn in prices is whats called the natural property cycle. Its been a volatile market - therefore of course there is going to be a natural drop off in demand.

 

Definitely Zilch.. after all, everyone knows that bikies and unemployables' set up their headquarters in brand new multi storey furnished office buildings.
Heck, I heard Hilton Gruegon sells straight to the bikies
Great to have someone to throw a spanner in the works though, it sparks healthy debate.

 

lol...I can think of worse.

 

How's the newcastle market going so far this year? I get calls from agent to sell my place...low stock?

 

Depends on the suburb, inner west and New Lambton are still rising. Is the agent that sold you the place calling? @larrylarry

 

No another agent that I have subscribed to its listing.

 

Great feeling walking around Newcastle yesterday. The Bar Beach was great.

 

Hey DB, you need to have a chin wag/debate with Ald

 

I had a read of this thread when searching online for Newcastle investing.

From my research a lot of these posters from when this thread began a few years ago might be feeling a bit stupid now besides a few like Propertunity.

From what I have been reading Newcastle is going through a major city beautification program. There is new light rail happening and the old factory.rail look in the city has been replaced with a feast of building activity and modern architecture. The University is now centered in the city and that is where all the action is taking place.

Someone mentioned investing is about what type of people will move there. Well how about in demand IT people? Newcastle is to become a major IT hub like Silicon Valley for Australia.

Property prices have starting rising a lot with 11% growth in last year and expectations for this to multiply in coming years. Demand is super high and properties only remain on the market for weeks. Auctions are now nearly as crowded as Sydney.

New industries are springing up and Chinese investors are moving here in droves.

For the doubtful taxi driver who said it is no good as uber is not there, well Uber is in Newcastle now and doing well.

Supercars are coming with millions to upgrade streets for that. Skateboarders love it, surfers rave about it so young people will always be attracted to the place. With the uni and the IT hub it will be attractive for young people who are tired of the Sydney sardine lifestyle wlll move there.

Keep within the Waratah, Lambton and Broadmeadow ares for current best investments and where lots of developments will happen, If you can afford near bar beach then it will always grow rapidly there.

I have just touched the tip of the Iceberg, Newcastle is becoming the next major Australian City. It's happening now.

The beaches are beautiful here and the people very friendly.

I have done a lot of research there and I'm here now in a great place I got last month

Some further reading:

• Revitalising Newcastle - About the program | Revitalising Newcastle
  
  The NSW Government has committed more than $500 million to revitalise Newcastle’s city centre, through the Revitalising Newcastle Program (the Program).
  
  Revitalising Newcastle aims to bring people back to the city centre by strengthening connections between the city and the waterfront, creating job opportunities, providing more public places and spaces, and delivering better transport.
  
  
  
• Forget Sydney, investors have their eye on a new booming hotspot in NSW

 

That taxi driver has gone to Perth apparently or to another investment forum. The latter is likely.

 

Oh really!. Well, I earlier came across this other thread on Newcastle, very interesting read on some details of prices in mid to high priced homes. I think the 500k home (15kms from the city) now will be up to 1 million in 2 years or less once all the city enchantments take affect and Sydney properties become more difficult to buy. Older apartments have not had a lot of capitol growth in last 7 years compared to homes so they are probably the best investments as they should rise a fair bit if located near services or anywhere in the city 12 - 16km range). There is a lot of potential in this area and it's mostly flat besides a few new apartment buildings in the city. Properties will always rise here been so close to Sydney and with so little area in the inner 16kms that is available. i mean most properties are one level so that means demand has gt ot always climb, A great safe bet for any noob as well as some true bargains for seasoned vets.

I went for a drive through the city today and their is now a new building on many corners. There is also a noticeable increase of pedestrians which is a good sign. Homes are always a good investment and I have neighbors putting granny flats up and in my street there is current one major apartment complex renovation with all sold off in days. A brand new set of luxury townhouses, a new building in place of an old small commercial building.Along with that there is now a brand new duplex complex on the other side of that corner, Then I watched an auction on a place in the street and there were like 70 people and it sold for 500k. On the other side of that street there were 3 units advertised (individually) in an old refurbished 1 level block, all sold within days. Then on the end of the street there is a huge development going on with a new retirement home going up. A unit was sold on the corner block with a great view, it was sold by the next weekend. This is all in my small side street so that should give a good indication of the activity here.

 

I like your optimism, but i disagree that the 500k homes within 15km from city will be worth a million in 2 years or less. What i do believe though is if your sitting on greater than 600 sqm2 block with any sort of house doesnt matter is in 5 years youll be sitting on a goldmine.