Buying in Maitland, Hunter Valley

Hi all,

I have an IP in Singleton which has been doing well (although vacancy rate has shot up in last 12 mths, but mine is safely tenanted)

A friend is thinking about buying in Maitland. It has had very high growth the last 1-2 years and wondering if it might be plateauing.

Does anyone have any insights into the Hunter Valley at present?

k
 
A friend is thinking about buying in Maitland. It has had very high growth the last 1-2 years and wondering if it might be plateauing.
If you look at the CG chart for the last 5 years - see attached, then you'll see the data has Maitland itself falling BUT East Maitland and another suburb I've chosen at random, Rutherford, are actually rising.

So, you just need to do careful selection.

Does anyone have any insights into the Hunter Valley at present?
Insights - no crystal ball here.
Opinions - sure. :)
We like the Hunter area because it is under-going such massive expansion:
Summarised here: http://hunteradvantage.com.au/the-facts/significant-projects/expansion
Road infrastructure: http://www.rta.nsw.gov.au/roadprojects/projects/the_hunter_region/hunter_expressway/index.html
This will take a lot of the local traffic congestion away: http://www.rta.nsw.gov.au/roadprojects/projects/the_hunter_region/hunter_expressway/map.html

Mining infrastructure:http://www.ncig.com.au/
Mines: http://www.xstrata.com
http://www.riotinto.com/

Wine:http://www.winecountry.com.au/plan/maps
http://www.cooperage.com.au/directions/lower-hunter-valley-wineries-map/

Airports: Newcastle: http://www.newcastleairport.com.au
Maitland:http://www.flightstats.com/go/Airport/airportDetails.do?airportCode=MTL

Maitland City Council:http://www.maitland.nsw.gov.au/
Estimated Resident Population:http://profile.id.com.au/Default.aspx?id=299&pg=210&gid=10&type=enum

Shopping centres: Green Hills Ashtonfield http://www.stockland.com.au/shopping-centres/nsw/stockland-green-hills.htm (undergoing major expansion) , Rutherford, Maitland, East Maitland etc.

In addition to this vacancy rates are sub-2% which is very tight (considering 3% is considered "balanced").............and rental yields are hovering around 6.5% or better in many instances (in specific suburbs).
 

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Propertunity.. Can you please produce the same graph for Ashtonfield?
Within last 5 years, one of our property there increased from 350K to 425K according to the bank. Rent also increased from 370 to 455 pw in this period.
 
Can't comment on Maitland (except to say watch out for flood zones!) but I also have an IP in Singleton so interested in your comments on a higher vacancy rate. I've had no problems with my house there- what's the feedback from your PM here?
 
Propertunity.. Can you please produce the same graph for Ashtonfield?
Within last 5 years, one of our property there increased from 350K to 425K according to the bank. Rent also increased from 370 to 455 pw in this period.

Yeah sure, then I'd better get back to some paid work! :p
Ashtonfield has done well mate. One of the more exclusive suburbs up that way.
 

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I think the market is rising...I got a call unsolicited from a REA for my property at Tenambit.

We talked and the agent told me prices for houses under $350k are solid. The place i bought in 2011 for 207k plus 25k reno is now worth 315k odd.

I have it rented for $360pw.
 
See if you can get hold of Eddie or one of his sons. Apparently Moses knows what's going on in the area. ;)

My last chat with one of the mining regulators up in your backyard said alot of the mine expansion was on hold due to a depressed coal price but things will bounce back at some stage.
 
About 2 or 3 years ago I did notice houses that needed renovations for about $150 000 in East Maitland near the hospital area....I assume they will be a lot more expensive now
 
Vacancy in Singleton

:confused:
Can't comment on Maitland (except to say watch out for flood zones!) but I also have an IP in Singleton so interested in your comments on a higher vacancy rate. I've had no problems with my house there- what's the feedback from your PM here?

No issue with my tenant but PM says that she is having to lower the rent on vacant properties as demand has decreased but she expects it to improve in 3-6 mths.

In recent PI magazine vacancy rate was up above 10%
 
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