NSW property cycle @ newcastle, central coast, regional nsw

people talking about property cycles at sydney
love to hear about boom n drop @ above areas.. affected by sydney cycle somehow.. timing etc..
disclaimer: I am still in analysis paralysis

 

I think @Propertunity can make comments on the cycles. From my observations, CC and Newcastle have moved quite a bit, probably more room but how long, that's my question too. I have been looking at CC and it seems generally most suburbs have moved including San Remo. That's saying something about the ripple effect of Sydney.

 

Still seeing strong growth in the woywoy/umina beach area, but not at the same rates as 6 months ago. I think it still has a bit of steam left in it.

 

There have been some crazy prices paid around Gosford / East Gosford (as an owner I have sat on the sidelines for the last 2 years and watched in disbelief), though suspect the rapid boil has become a fast boil. There is some steam left.
I tip Gosford in particular will continue to do well relative to the cycle - it's been particularly unloved, there is a lot of planned development around the waterfront, investment in the hospital (jobs), and a plan to join the F3 to the M2 will improve access to Sydney.
If I was looking for a place to live - buy or rent - at those price points - Gosford will have a lot more going for it than similarly priced areas in Western Sydney.

 

I was encouraged to look at Gosford area but the prices are prohibitive at the moment.

 

Crazy prices in Charlestown as well, have watched in disbelief as prices have rocketed up by $50,000 during the last 3 months.

 

I like Charlestown but like you said...prices have moved a great deal making entry point higher. Wonder if neighbouring suburbs would get a lift.

 

Some of the prices have been a bit frothy, that froth is coming off now. There will be some pull back ... But anybody who bought before the end of 2014 should still be happy.

 

I think Newcastle/Lake Mac has a bit more in it. Don't expect the same growth of the last couple of years though.

 

I think Newcastle/Lake Mac has a bit more in it. Don't expect the same growth of the last couple of years though.

 

Aren't clearance rates in central coast like 30% now?

 

Not sure but what would really go to auction there? Only water front or development sites really so you're always going to get low results with that type of stock. Sydney/Melbourne its just orderinary property.

 

how were the previous cycles (related to sydney boom), I know CC was peaked 1-1/2 yr after sydney…

 

Surfing through Sold properties tonight and still some very good prices going around Gosford way. I don't see much sign of a drop off in prices ... Certainly not like Western Sydney has dipped. Will the lower central coast hold up better in this phase of the cycle than it has in previous cycles?

 

Central Coast houses has become prohibitive for me now..price wise.

 

The Central Coast is not an auction type of place.

That's why I object to Sydney's auction clearance rates being published as say 59% when they include places like the Central Coast and others. Sydney's true auction clearance rate in areas like the Inner West or Lower North Shore are often 70-80+% on any given weekend.

 

Last Sydney boom peaked in 2003. Central Coast peaked in 2004. This is just the ripple effect in motion.

 

South Coast has picked up in areas, Huskisson and Vincentia have gone a up a fair bit but there are plenty of other places that you can still find some good buys.

 

The latest HTW report puts South East NSW at start of decline. Does that include those south coast areas? On the other hand, it has places like Wagga and Albury as rising, so I wonder exactly where South East NSW is.

GP

 

I think your better in then out in newcastle , theres over 2billion of spending happening as long as your buying something with land content within 5km of the cbd i don't think you can go wrong.

Something like this can easily be converted into a 3bd.
50 George Street Mayfield East NSW 2304 - House for Sale #121419390 - realestate.com.au