best area to buy in newcastle nsw

DaveMSydney said:
Its the Mt Druitt/Shalvey/Wilmott/Tregear/Bidwill/Blackett of Newcastle.

In years gone by a nasty place to live, probably some good buys if they start selling off the HC stock as its looking a little better these days (just a little)

Great hamburger/chips shop :D
Click to expand...

But unlike Tregear etc it is very well located, being 5 mins from a good surf beach, major shopping centre at Charlestown and Lake Macquarie and 15-20 mins drive to Newcastle at peak time. Some of Windale ever has ocean views! However, I would prefer an ex-housing commission buy in Gateshead next door, which has all of the above but less of the stigma of Windale, if I was inclined to buy in the Newcastle area at the moment. BTW they are definitely selling off the housing commission stock in Windale.
Cheers, Ali
 
Re the student accommodation can anyone share their thoughts or experience with regards to the following when analysing potential properties:


1. rental length (ie do u consider no rent over summer break? Winter break will not be rented? Or presume only 5 of say 6 rooms will be rented over uni semester?)

2. Electricity and other utility costs? These always included and r they always more expensive (say my current bill is circa $200 per qtr).

3. Internet - easy to install n provide. Does it need to be broadband/ available? How much do u factor in. Would u have a home line? (I would think unlikely in this day and age).

4. Managing agents costs if u don't manage yourself?

5. Insurance - special student insurance...... Ensuring everything meets approvals and regulations etc to ensure insurance will be valid also likely a factor.

I guess there are a lot of additional costs to a usual ip and may therefore make them very risky - but does the return warrant that risk..... Interested to hear of those exp in this area and if they recommend it as a strategy....

Tah

Ritchie
 
one more point - for those expeienced in these student acc. do you try and get a certain % rate yield..... Whilst the gross yield might be 10 or 12% as specified in the RE ad - it will not obviously always work out like this once above costs takrn into account and vacancies, etc..... Therefore does anyone have a rule of thum what rate you would be willing to get - as obviously grwoth may be not too good on these type of properties!
 
I've been wondering if prices/yields on the western side of the lake from Fennels bay to Toronto will increance once the hunter expressway is finished and this area is more accessable to mine workers.
 
i know its mentioned above, but what do you guys think of Wallsend to buy a IP? My mum and dad are trying to convince me its better than mayfield which is the area i like. I know its close to uni and everything and only 20 minutes from the beach and its a working class suburb with a lot of old people who have looked after there houses on big blocks. Thanks heaps for any info.
 
Nothing wrong with Wallsend, yes historically it has less stigma than Mayfield and also great access/proximity to the F3 and the new Hunter express way.

If you are looking to add value and also want a bit of a lottery ticket (possibility of big future CG) I don't think you could go past Islington etc.

Used to be full of used syringes and hookers, there was even an entire special show on Today Tonight dedicated to how dodgy it is, but exactly as Propertunity said, these are the type of places that later become a Redfern.
There is only so much inner city land near the water! It has to gentrify eventually. Nobody wants to hold those kind of places when they aren't in fashion and do the time, but everyone wishes they bought in Redfern now looking back.
 
hunterhomes said:
Nothing wrong with Wallsend, yes historically it has less stigma than Mayfield and also great access/proximity to the F3 and the new Hunter express way.

If you are looking to add value and also want a bit of a lottery ticket (possibility of big future CG) I don't think you could go past Islington etc.

Used to be full of used syringes and hookers, there was even an entire special show on Today Tonight dedicated to how dodgy it is, but exactly as Propertunity said, these are the type of places that later become a Redfern.
There is only so much inner city land near the water! It has to gentrify eventually. Nobody wants to hold those kind of places when they aren't in fashion and do the time, but everyone wishes they bought in Redfern now looking back.
Click to expand...

thats what I m still surprised about, there seems to be heaps of land in outer newcastle, whereas youcan pretty much get from one end to the other in around 20 mins with no traffic

you can still pick up a run down place in wallsend for mid 200s or surrounds as well, seems like gentirification is inevitable

whats your opinion on woodrising,boorgaul area? seems like land is in abundance, so not too sure if CG in the midterm would be a great, as you can pick up a run down place for $250k,

however ,that being said, more towards the wallsend/cardiff area seems better for the same price
 
Thanks hunterhomes, I'm trying to figure out my investment strategy and I do love islington, tighes hill and wickham. That being said they don't have huge blocks of land with sub division available or the potential to build a block of units like houses in wallsend. Most of the houses in iso only have offstreet parking but that is the inner city suburbs for you.
 
Fox89 said:
i know its mentioned above, but what do you guys think of Wallsend to buy a IP? My mum and dad are trying to convince me its better than mayfield which is the area i like. I know its close to uni and everything and only 20 minutes from the beach and its a working class suburb with a lot of old people who have looked after there houses on big blocks. Thanks heaps for any info.
Click to expand...

Wallsend is a BIG suburb so you will need to be more specific. It spans from Jesmond (where it has a decent housing commission count) across to Maryland and up to Elermore Vale and Wallsend South.

Within a 1-2km radius of Wallsend shops is go-er.

Be aware that Mayfield got hit hard in the earthquake and has a lot of still damaged places and places that were fixed up bodgily.
 
DaveMSydney said:
Wallsend is a BIG suburb so you will need to be more specific. It spans from Jesmond (where it has a decent housing commission count) across to Maryland and up to Elermore Vale and Wallsend South.

Within a 1-2km radius of Wallsend shops is go-er.

Be aware that Mayfield got hit hard in the earthquake and has a lot of still damaged places and places that were fixed up bodgily.
Click to expand...

dave, how much cheaper are the properties in the comission area vs the surrounds? do you know if the governement is selling off or developing the area?
 
TMNT said:
dave, how much cheaper are the properties in the comission area vs the surrounds? do you know if the governement is selling off or developing the area?
Click to expand...

HC in Wallsend is in the eastern section near to Jesmond, bounded by Newcastle Road, Longworth Ave, Cameron St and Mordue Pde. In particular the streets off Douglas St are heavily HC.

They are redeveloping sites rather than selling off, a number have been combined lots and built into villas.

You do get private homes in amongst them and they sell far cheaper than they otherwise would.
 
I'm amazed at what good value Charlestown is at the moment. I also like Highfields. Just missed out on a beautiful pre-war (WW1 that is) house on the Pacific Highway but set well back, full renovation etc etc for high 300s. Good growth potential, more and more businesses are moving to Charlestown instead of the CBD.

I live in Cooks Hill but have never been to Cardiff and never looked at it, so no idea (bit embarrassing that).

I think Maryville is stupidly overpriced, especially compared to the adjoining properties in Wickham, Islington, Carrington and Tighes Hill.
 
i think the whole of newcastle is overpriced. i got told today to hold off as people are saying Newcastle is going to go flat, because of mining and no coal T4 going ahead. then i got told the other day by a Town planner that Newi is going to double in population in the next ten years. made my mind up though looking to buy in New Lambton, Adamstown or Merewether. Cardiff is good.. theres alot of decent homes there on good blokes of land but it has its fair share of derros and is 20 minutes from the beach.
 
Depends on where you look. Some areas are overpriced (New Lambton is one to my mind) but other areas are very well priced for location and amenity.
 
Fox89 said:
i got told today to hold off as people are saying Newcastle is going to go flat, because of mining and no coal T4 going ahead.
Click to expand...

Which "people are saying Newcastle is going to go flat"? :confused:
It is just codswallop, in my opinion. These same people said the same thing about BHP moving out-of-town many years ago - and that had quite the opposite effect. Once BHP was gone, the whole Honeysuckle development of the foreshore and surrounds took place.

Coal is going nowhere anytime soon. We continue to burn it to produce electricity as this country won't do nuclear. We just dig it up and sell it to all and sundry, (and some of them probably build bombs with it to point back at us), but we won't use it here to produce electricity. :p
 
You must log in or register to reply here.

Similar threads

M
OTP Apartments Newcastle
Replies
12
Views
2K
sumterrence
S
V
My budget is around 450K to 550k and looking for CG areas or Brisbane 10 to 15km radi
Replies
7
Views
2K
R377
R377
B
Registered Tax Accountant in Newcastle NSW area
Replies
7
Views
2K
Propertunity
Propertunity
A
First time investor needing some help
Replies
9
Views
2K
Nattl3s
N
Z
Zillmere Brisbane
Replies
4
Views
2K
Zartsnarf
Z
Back
Top