All Topics / Help Needed! / Newcastle Market?

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  • Profile photo of nofussnofuss
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    @nofuss
    Join Date: 2009
    Post Count: 7
    November 30, 2009 - 7:56 am

    Just wondering if anyone in the Newcastle/Hunter market can give me some insight into the market ie how it is faring, bit of history of real estate in the city and what they think the future holds? Im very keen to invest in Newey next year and would really appreciate some advice. Im looking forward to meeting like minded investors in the area.

    Regards

    Russell

    Profile photo of philpogphilpog
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    @philpog
    Join Date: 2009
    Post Count: 3
    November 30, 2009 - 9:43 am

    Russell,

    I have 2 IP in Newcastle (bought 9 years and 4 years ago)…they have always been tenanted (good rental demand) and have seen great capital growth in one, modest in the other. I am living in Sydney but husbands family is from Newcastle. If you buy I can recommend a property manager up there.

    Cheers
    Gayle

    Profile photo of nofussnofuss
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    @nofuss
    Join Date: 2009
    Post Count: 7
    December 1, 2009 - 7:27 am

    Brilliant, will keep that in mind, thankyou Gayle.
    What suburbs did you invest in? Im looking around Darby st, maybe Cooks Hill or nearby.
    Do you know much about the mall revamp that is in the pipeline?

    Regards

    Russell

    Profile photo of vegveg
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    @veg
    Join Date: 2009
    Post Count: 4
    December 1, 2009 - 9:26 am

    Hi Russell,

    Some of the inner city suburbs like Cooks Hill have actually defied the trend and appreciated quite a lot in the last 12 months. The mall redevelopment is up in the air as the developer GPT want the rail line cut at Wickham before they will commence. This has caused huge debate and much to-ing and fro-ing from various groups. I wouldn't be confident it'll get off the ground.  The mall has recently been re-opened to traffic for the first time in like 30 years and businesses have reported increased trade.

    Have a look at Carrington as well because they are really doing a transformation there and maybe Islington which is one of the cities "red light" hotspots but they are really cleaning it up.

    Cheers

    Veg.

    Profile photo of nofussnofuss
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    @nofuss
    Join Date: 2009
    Post Count: 7
    December 2, 2009 - 7:59 am

    I really hope the major mall revamp goes ahead, taking that railway back to Wickham in my opinion would be brilliant. The whole of Hunter st would be instantly opened up to the river/Huneysuckle area. Really hope the anti change section of the community let it get off the ground, the city needs it.
    I have been looking closely at Cooks Hill, I like the look of it, close to everything Newey has to offer. Not to sure on
    Carrington, like the spot but have heard some dicey reports about soil contamination in the area. I think wickham has
    a fair bit of potential?

    Russell

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