Where in Newcastle region

Student accomodation interstate will make all your hair fall out. I just sold one in Jesmond full of students it’s not something you want to do being interstate or even living 1 hour away from. If you put that on a single lease you would be looking at mid 400’s per week for rent.

 

LOL advice taken and yes you are right probably not an ideal area.Think I will research Mayfield further

 

it would be tough finding something under 500k at the moment in any decent suburb... especially wanting it to be positively geared.

500-600k is a price range that could get you into a lot more places, but i think you would still be hard pressed getting a property with positive cash flow

I see no issues in getting into the market now if you do your research and plan on keeping the property for at least 5 years.There still is a lot of Sydney investors showing up at open houses and paying over the top for properties, so you need to be mindful of not overpaying.

 

Thanks for your advice. I could push into the next bracket 500-550. Do you mean getting into the newcastle market or perhaps somewhere else?

 

In the newcastle market.

500-550 should allow you to expand into other suburbs in newcastle, though you need to be really watching the market.. most things are going 550-650 or higher.

 

I live in WA too but come to Newcastle for a few months every year. In my humble opinion, I think you should forge ahead with trying to find a property here. There is so much going on in Newcastle at the moment, construction-wise, it is going to be great when it’s all finished. If you do end up returning to the east coast, and end up living in Newcastle, you will be glad you purchased here, not only because you invested, but also from a lifestyle point of view.

 

Hi all, what is your thoughts on Thornton

 

Thank you Zeehan this is exactly what I need to hear! I am of the same sentiment that if I ever left Perth I think Newie would be a good choice. I am too used to the good life in Perth couldn't face going back to Sydney rat race

 

median for 2017 had 4.3% growth, 2016 was 11%.

I put Thornton in the same bucket as Cameron Park. You're always going to be a bit further out (25-30min from town - in good traffic) and doesn't seem to grow as fast as the inner city suburbs. However, they do tend to get decent rent and the prices of houses are attractive.

I have a friend that bought in an inner city suburb in newcastle for around 800k in 2011 and recently sold for almost 1.8 million. This house changed very little in that time. The growth of the inner city blue chip suburbs will always be strong. I think in another 10-15 years all those inner city suburbs of Newcastle will only be for the multi millionaires.

Newcastle has changed so much in the last 10-15 years and its only getting better as time goes on.

 

@tomlemke pal, what's the feeling on the ground there? Still a lot of buyers around? PPOR types or investards?

 

Investards

Year ended really well we nearly sold everything on our books, investors defiantly seem to of dried up.

Our office has 23 auctions scheduled for Feb so that will be a good indication for how the market is tracking.