NSW newcastle v wollongong

Ah the bottom of this one shows international student numbers reaching high 12k in 2010 and they have bounced around that level since then. Total student numbers have grown since then.
Head Count Over Last 5 Years - Student Statistics and Planning Support @ UOW

 

I agree @Propertunity and as per my other post in the Newy thread quoted here my view is they are roughly equivalent in terms of catching a Sydney ripple effect. I don't think a slugging match is required or helpful (plus you are bigger and I'm sure you would take me down

 

Hm.. you could probably right @BuyersAgent somehow Wollongong is enjoying the ripple effect from Sydney.

maybe when there is fast train between Sydney and Wollongong, the property price will be more attractive and going better.

 

But does it going to be sustainable or it becomes like another Mt. Druitt ?

 

Um...Mt Druitt doesn't have the beach? MUCH better lifestyle as you head south. That is drawing retiring Boomers by the Winnebago load. Not the same. I should add the coastal appeal also exists to the north to be fair.

 

Hi propernewb,
I am looking for a property around Albion park but i have been told to becareful around the area due to flooding. In brisbane, council web sites can give a historical report on individual property if it had been flooded previously but i am unsure about shellhaven city council. Any suggestions or thoughts would be much appreciated. Thanks.

 

Correct - you need to be careful around flooding in this area. There are several different flood studies that have been done for the different creek catchments which have maps models and imagery of varying quality. Any individual contract/149 should mention if a property is or isn't flood effected but there are huge variances between those "just" on the edge of zone flood effected by a 1/100 model and may have never in the last 50yrs got wet, and others that will and have been underwater as recently as 2011. Due diligence is key.

 

Hi Matt,

Thanks very much for your input. After reading brisbane thread i am falling in love with brissie too. Not sure where i should go now. My strategy is CG but i am trying to get to neutral cashflow as much as i can.

Cheers,
Serah

 

@propernewb
From the graph below, it is clearly Wollongong wins over Newcastle.

 

@Tekoz are these results from the same site that reported that 3 bedrooms were more expensive than 4 bedrooms houses and completely excluded all other factors?

 

@neK

Not sure which site is that, but this one is well known and trusted by the big 4 banks, because the data source is RPData.

 

That is just the inner city postcodes though tecoz, you need to look at the wider area.

 

@BuyersAgent

I noticed that Berkeley had an annual growth of 8.2% from 2014-2015 and Cringila had an annual growth of 10% from 2014-2015 but both have not had any growth since about September 2015 (from realeste.com.au). I am wondering if you think they have already finished there growth from the Sydney ripple or if you still think they have some ways to go? I did notice that surrounding suburbs like Port Kembla and Unanderra have a higher median house price so maybe it will play catch up with them?

 

I have gone on record before and happy to again - my view is that Illawarra especially south of the cbd is not finished for this cycle yet. I could be wrong but 10 yrs of no growth then 2 yrs of growth doesn't normally represent a full cycle. Demographically the drivers haven't stopped. I put it at 50-60% through current run, with second half perhaps being a little slower than the jump start we just had over the next 3 or so yrs. There is no oversupply of either homes to purchase or rent. That is my broad brushstroke for the area. Now to suburb specifics - I think there is the odd bargain in berkeley but personally have preferred to target other areas by the lake but not so close to the steelworks, just because I like amenity more than proximity to work (I moved where I did partially for the ocean which I enjoy every week) and places like palm beach and vaucluse aren't right next to employment nodes. Not saying anything wrong with Berkeley but there are suburbs I prefer. If they all continue to grow and B still offers value then of course all bets are off. And yes there may now be a little bit of rubber band effect, this happens all the time when 1 suburb grows just prior to the one next to it, until next door looks too cheap then it grows again. Whether its B or elsewhere just make sure you understand the area, the streets, the social mix, who is renting, who is buying, what that social sub group can afford etc. Nothing wrong with cheapies but you won't go wrong if you know your customer.

 

Does this still bode well for the lovely Mt Warrigal?

 

There are currently a grand total of 3 homes for sale in M W. all well over your purchase price. The market has realised how good it is and vendors have stopped listing for now. You got in just in time.

 

I feel a reno coming on I think, may even explore building up. That house is for keeps. Thanks Matt

 

You could do really well going up if you capture that view. Let the market do a little more heavy lifting first and you should be safe from overcap.

You deserve the credit you were both decisive and trusting, which meant we could move fast enough to get that one in a tough environment. Well done you deserve all the "luck" people will say you have years in the future when its twice the price!!!

 

@BuyersAgent apologies that I'm not an investor however we are looking to relocate from Sydney to Wollongong area for the sake of getting out of the hussle of the city and to raise the young family. I am interested in the Figtree area a bit further up from the beaches. I see there is new land up at Redgum Ridge however after ringing the agent he said $600k to $650k for a 600m2 block seems rather high in my opinion! Can you give me any insight into how land sales are going in the Gong area and what is a rip-off compared to a reasonable price to pay. We are looking for new land or house less than 5 years old with a budget around $800k to $900k

 

Hi @Rich W theres a couple of Q's in there so I will PM you perhaps it makes sense to chat on the phone feel free to ring tomorrow if you like.