Hi All,
It appears that there is still a bit left in the Newcastle market.(1.5hrs nth Sydney) It seems to still be firing and many are saying that it is due to Sydney buyers constantly looking to buy property at a good price and with the beaches and lifestyle i guess that it seems to be a good growth suburb. Any thouhts as there are still houses in inner city under $300,000[^][V]Newcastle is still appears to be moving ahead but not at the rate it was in the previous couple of years. REAs have more listings now b.
The cheaper end of the market is under some pressure from buyers from Sydney who visit on weekends looking for IPs.
It is a coastal city equal 6th largest in Australia. There is quite a bit of industry as well as a major Health network and a large progressive university. To the north is Port Stephens and to the south is Lake Macquarie.
The inner city is currently under transformation with many new apartments finished, under construction or planned. Many of these have spectacular harbour, ocean and/or city views.
The beaches here rival anywhere in Australia and the Hunter Valley has a large wine and coal industry as well as other animal and agricultural activity. There is a major defence establishment and also a progressive ship repair and construction infrastructure.
I was reading in the weekend paper that whilst the babyboomers are moving to the coastal villages the generation xers have found Newcastle with it’s beaches, music and arts culture attractive and they are also driving demand.
If I can give you any help or answer any questions please get in touch.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi,
i have always found Newcastle to be attractive and has had some hidden gems – i was still finding properties up until a couple of months ago (althought not buying) – as always you have to talk to the people but places a little further out are still okay
prices have gone up a lot in the last two years and lots of development in newcastle centre
cheers,
bluecatDo today what you want to do tomorrow
So,
Do you guys believe that it is riding along on its own merit of is it just surfing sydneys wave?
From my experience the city seems to always be busy and self supporting as Mortgage hunter stated the beaches are the up there with the best of em.
I think that it will always be a desirable place to visit or live and the only thing is that i believe that the tourism industry need to pull the perverbial finger out and start to market the place. Maybe then it would be truly a city that looks fter itself and not just a poor cousin of sydney.
If sydney does start to stall do you think that it will push up newcastle price as investors look elsewhere?
I also believe that newcastle unit prices have to stabilise however i strongly feel houses have room to rise!!!!Hi,
I think it is a bit of both – a lot fo sydney people are moving up there to be away from the city but not and the lifestyle doesn’t change much to sydney (prehaps a little slower) and then sydney is also still quite close
industry is coming as well and the university one of the best for research
i mean it has riden on the wave of sydney just like woollongong (sp) because it is the closest big city
prices in newcastle are influenced by the sydney market
units prices have moved little for a while – depending on the suburb house prices still have a way to go
cheers,
bluecatDo today what you want to do tomorrow
Hey Bluecat,
It sounds like you are looking at this area as well. Just going to pick your brains as i have a few suburbs that i have been concentrating on and these are Tighes Hill,Wickham, Mayfield,Islington,Carrington. What are your thoughts on these suburbs for houses that are still a little undervalued?? [8D]
Prices have gone up considerably but still cheap compared to Hamilton Barbeach Etc.Hi guys
I have been looking at these areas, and my main question is do you buy only for CG or yeild. I have found the rent to buy ratio makes most of these properties very -ve geared.
ErikaBigben,
Im from Newcastle,
the areas you have mentioned are sort of the “lower class” areas(not that im high class), but the socioeconomic status is lower, while there is still some nice houses around there, I wouldnt buy there if i had the choice, the best advice i could give is to come down/up here and pay us a visit. I`ll try and think of a few real estate agents around here and get back to you.PM me with any other questions
Moose
censor me and bar your kids from the lessons I learned – makaveli
I`ll make him an offer he can`t refuse – Vito CorleoneHi bigben,
Made my home in newcastle for twenty years and have searched the area alot and still do.
Wickham, mayfield, tighes hill, those areas that you are talking about are the areas that i look into mostly – they are the old BHP towns – no-one wanted to live there and now it is uni students (i’m being very general here – no offence to any living in those towns) so the rental can fluctuate with the uni times if you are unlucky although this also means that it can be easy to pick up a new tenant as well
there are still undervalued places in those areas but sometimes they will require a bit of work which is what you should be looking for (problems not solutions)
carrington with the marina going in has had lots of price increases in the last years so it has stabilise a bit although that also means that a gem can be found
the tafe at tighes hill is also growing so the scope for rentals there is also large
hope this info helps – anything else i can help you with let me know
cheers,
bluecatDo today what you want to do tomorrow
I only had some experience 10 years ago with Mayfield, and it wasnt great then
Elves
it’s got a lot better (it couldn’t really get worse)
[
]cheers,
bluecatDo today what you want to do tomorrow
blue cat
and how! you are so right on that one, only way is up…baby…hmmn song in there…
Well,
I must say that i have been there a few times in the last few weeks and as some of you have said these areas are sort of “low socio economic” however i see this as a window of opportunity as i cannot begin to imagine that these suburbs are going to stay that way when you have $1m properties for sale close by. Looking at sydney then i suppose that paddington was in a similar situation 10 years ago.
Mayfield seems to be buzzing with power saws and paint brushes.
Tighes Hill seems to be just starting to boom with new garages and extensions going on and also some nice properties on the “creek”.
Islington……lets wait and see….
Carrington Wickham, Lots of developers putting there money where there mouth is so that is always good.
I just feel that if i wait for the suburb image to improve then i pay a premium price??
Your thoughts![]As a newcomer to Newcastle I found that locals have a poor image of these suburbs. They can’t seem to see the changes being wrought and the money being poured in. Wickham = Balmain. Tighes Hill = Glebe etc.
Even now that they are preferred places to buy many locals are stuck in a paradigm.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I have tapped into the I.T industry who have incomes in excess of $100,000.00 these people want LIFESTYLE at an affordable price and this area is the answer. If a market is dull in one area it is booming in another, you just need to know where to look, cheap is not always best, there are millions of dollars trading hands every day take the blinkers off. regards Phil
which blinker? right or left?
statements made by people are that, opinions ..
sometimes it takes a long time for attitudes to change, sometimes they never dosome areas might take too long for some people to put money in that is their choice
good on you for your window of opportunities and multimillion dollar tradings- my gran alwasy told me, one mans trash is another mans treasure
but I got my places I like, you can have yours
cheers
]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
