best area to buy in newcastle nsw

[Paul B.]

I have lived in Lake Mac my entire life so know a little bit about the stigma and local perceptions of the suburbs around here. My PPOR is in north Lake Mac (Cameron Park).

Cardiff has its fair share of commercial and industrial development, it is squeezed between the promising Glendale and affluent Warners Bay. However there is a strong working class culture in Cardiff and generally has a low income vibe. Cardiff south on the other hand is Cardiff's leafy urban neighbour and has a nice community vibe. Cardiff south is predominatly residential and in close proximity to Charlestown and Warners Bay. I would pick Cardiff South over Cardiff.

In terms of value for money I would be looking at Glendale. You can still pick up a house on 700-800m2 lots around the $300,000 mark. Proximity to Stockland and the proposed transport interchange should see decent performance in this area. Glendale has traditionally had a stigma but this has shifted since the construction of Stockland Shopping Centre and the decomission of Pasminco in 2003(?). Argenton is another potential area to benefit from the development in Glendale.

Edgeworth for me is still locked in its working class heritage. I think interest in edgeworth will be dwarfed initially by the new development in Cameron Park and Glendale but will come into its own down the track.

Overall Lake Mac is a great Council that is innovative and pro development. Their attention appears to be directed to North Lake Mac/Charlestown/Belmont.

 

[JoanneBig]

Follow up investment in Newcastle NSW

Just wanted to know where you bought and if your property moved up. I have been looking to invest in Newcastle CBD, friends have bought in Merewether Heights same time you wanted to invest 2012, paid I think $450, house next door just sold for high $600 that is huge increase.
Question I am thinking to buy in CBD ie Cooks Hill, The Junction or Hamilton South, close to schools, new uni, beach and entertainment, but the price is a eye catcher, would it go up as much, should we buy for investment or just move in and enjoy.

 

[leann]

Just wanted to know where you bought and if your property moved up. I have been looking to invest in Newcastle CBD, friends have bought in Merewether Heights same time you wanted to invest 2012, paid I think $450, house next door just sold for high $600 that is huge increase.
Question I am thinking to buy in CBD ie Cooks Hill, The Junction or Hamilton South, close to schools, new uni, beach and entertainment, but the price is a eye catcher, would it go up as much, should we buy for investment or just move in and enjoy.

My friend has an apartment in Georgetown, Newcastle. The prices of units in same block are rising quite well she said and she gets very good rent money too. I think Chinese investors are looking there now with the Sydney market starting to look risky. There is also huge city beatification projects underway in the Newcastle city which should see prices rise dramatically over the next few years

 

[Truly Exotic]

yes, newcastle is crusing along steadily and strong, even outer newcastle has gained momentum

 

[Simon]

Just wanted to know where you bought and if your property moved up. I have been looking to invest in Newcastle CBD, friends have bought in Merewether Heights same time you wanted to invest 2012, paid I think $450, house next door just sold for high $600 that is huge increase.
Question I am thinking to buy in CBD ie Cooks Hill, The Junction or Hamilton South, close to schools, new uni, beach and entertainment, but the price is a eye catcher, would it go up as much, should we buy for investment or just move in and enjoy.

Hamilton South shouldn't be lumped in with the others you mentioned. Too much Housing Comission and I wouldn't buy there.

Islington is performing right now, Eastern side of Maitland Rd though. Other side is right in the rail and will stay cheaper I think.

Hamilton is popular right now as is Wickham with all the works going on.

 

[Sunlover]

This may be of some use.

 

[leann]

This may be of some use.

Nice stats. I guess investors should be looking around the suburbs at the top of the 2nd page for best growth prospects to invest.

 

[serendip]

Interesting stats. Looking at this report and thinking about the suburbs, it's amazing how many of these areas have multiple markets within the suburb. I think that the stats can really be affected by this. For example Bolton Point has 50's/60's stock, a whole pile of ex-housing commission then quite a bit of '90s/'00/newbuild, then there's the waterfront / water view factor. Houses sell in that suburb anywhere from low 200's to over $1M.

 

[lawmich]

After speaking to Alan Fox and reading articles on urban renewal, it reinforces my view that Newcastle is the area I should be looking at in terms of development.

It's interesting to note (I'm a sydneysider) that the properties closer to newcastle city centre are small, average 300sqm (Mayfield and surrounds).

 

[serendip]

After speaking to Alan Fox and reading articles on urban renewal, it reinforces my view that Newcastle is the area I should be looking at in terms of development.

It's interesting to note (I'm a sydneysider) that the properties closer to newcastle city centre are small, average 300sqm (Mayfield and surrounds).

Definitely, there are some larger blocks but they're selling for a lot. I've not been able to make the numbers stack up for a subdivision close into town yet.

 

[lizzie]

I'm a fan of Maryville (well - Merewether first but to expensive now) ... but I think you've missed the boat as it's been discovered.

Second fav (asides from Merewether) would be Hamilton

 

[lawmich]

You aren't keen on smaller blocks? I think CG can be gained from the smaller ones.

 

[serendip]

You aren't keen on smaller blocks? I think CG can be gained from the smaller ones.

Depends what you want to do. Development or buy & rent out as is? Small blocks you obviously can't subdivide, though that doesn't preclude multiple dwelling development. Then there's those damn planning rules.

 

[Paul B.]

Interesting stats. Looking at this report and thinking about the suburbs, it's amazing how many of these areas have multiple markets within the suburb. I think that the stats can really be affected by this. For example Bolton Point has 50's/60's stock, a whole pile of ex-housing commission then quite a bit of '90s/'00/newbuild, then there's the waterfront / water view factor. Houses sell in that suburb anywhere from low 200's to over $1M.

Important to note that property is a marathon, not a sprint...so don't read into 12month growth too closely, focus on 10 yr averages!

Depends what you want to do. Development or buy & rent out as is? Small blocks you obviously can't subdivide, though that doesn't preclude multiple dwelling development. Then there's those damn planning rules.

Dual Occ you really need a min of 600m2 and multi dwellings a min of 1,000m2. Each Council have specific requirements but I find on average these areas serve well as a guide.