Good investment analysing sites for NSW
- Thread starter jasin
- Start date
B
brains
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Jasin,
If you can find pos. gearing in Newcastle can you tell me, cause i couldnt.
Try www.Residex.com.au or www.homepriceguide.com.au
If you can find pos. gearing in Newcastle can you tell me, cause i couldnt.
Try www.Residex.com.au or www.homepriceguide.com.au
Hi Jasin,
The capital growth in Newcastle has been terrific over the past 18months, 2 of my properties there had doubled in value between June 2001 and Nov 2002. (bank valuations)Unfortunately rents have not kept up. I am still buying in the Newcastle market but not straight buy and holds, I have had to look for ways to increase returns or add value, such as large houses for student accommodation, creating a flat or buy/reno/sell, buy/reno/rent
These methods could be used in any city, but you must know the area thoroughly (research) to be able to tell what will work in particular suburbs. Your research will also of course enable you to gauge the correct buying price for your purpose.
I have not seen any properties in Newcastle for some time that will give an immediate positive return on 100% borrowings.
Keep looking, & have fun
Ken.
The capital growth in Newcastle has been terrific over the past 18months, 2 of my properties there had doubled in value between June 2001 and Nov 2002. (bank valuations)Unfortunately rents have not kept up. I am still buying in the Newcastle market but not straight buy and holds, I have had to look for ways to increase returns or add value, such as large houses for student accommodation, creating a flat or buy/reno/sell, buy/reno/rent
These methods could be used in any city, but you must know the area thoroughly (research) to be able to tell what will work in particular suburbs. Your research will also of course enable you to gauge the correct buying price for your purpose.
I have not seen any properties in Newcastle for some time that will give an immediate positive return on 100% borrowings.
Keep looking, & have fun
Ken.
Hi guys,
Just a quick one, Im on my way out for dinner
I agree with Ken wholeheartedly here. Minimum cap growth of any suburb in Newcastle in the last 12 months was just under 20% (Cardiff/Edgeworth), and both of these are around 15 kms from the CBD.
9 suburbs have had growth of 40% plus in the last 12 months.
Even suburbs with historically bad reputations as industrial (Mayfield, Nth Lambton, Islington) have grown a minimun of 25% in the last year.
I also agree with both Ken and brains that there is very little, if any, chance of buying a +ve geared or cashflow prop in Newcastle at the moment. Capital growth has just been too strong, and while vacancies are still pretty low (under 2% from the 3 or 4 PMs I know), rental increases have not kept track with growth.
I personally believe there is still some growth left in Inner suburbs, simply because there is no vacant land within 2kms of the beach, and in some outer suburbs that are yet to follow to their potential.
I recently saw a unit go for 210k (2 streets from my house) that last sold for 121k in August 2001... or just under 74% capital growth for 18 months. No reno, not even a coat of paint... The buyer was from Sydney, and bought sight unseen
Like Ken says, there are still some great buys in the area, but it takes a lot more work now than it did 18 months ago, and they are getting harder and harder to find. Decent size blocks for future development are also relatively scarce now...
Another forumite and I looked at an unrenovated house last week listed at 210k... the property next door was basically exactly the same but HAD been renovated , and sold for 210k a couple of months back. Even renos are losing their steam in Newcastle
Hope this helps, now Im in trouble for making people wait for me
Jamie (who would really prefer Sydney people to steer clear of Newcastle in the future )
Just a quick one, Im on my way out for dinner
I agree with Ken wholeheartedly here. Minimum cap growth of any suburb in Newcastle in the last 12 months was just under 20% (Cardiff/Edgeworth), and both of these are around 15 kms from the CBD.
9 suburbs have had growth of 40% plus in the last 12 months.
Even suburbs with historically bad reputations as industrial (Mayfield, Nth Lambton, Islington) have grown a minimun of 25% in the last year.
I also agree with both Ken and brains that there is very little, if any, chance of buying a +ve geared or cashflow prop in Newcastle at the moment. Capital growth has just been too strong, and while vacancies are still pretty low (under 2% from the 3 or 4 PMs I know), rental increases have not kept track with growth.
I personally believe there is still some growth left in Inner suburbs, simply because there is no vacant land within 2kms of the beach, and in some outer suburbs that are yet to follow to their potential.
I recently saw a unit go for 210k (2 streets from my house) that last sold for 121k in August 2001... or just under 74% capital growth for 18 months. No reno, not even a coat of paint... The buyer was from Sydney, and bought sight unseen
Like Ken says, there are still some great buys in the area, but it takes a lot more work now than it did 18 months ago, and they are getting harder and harder to find. Decent size blocks for future development are also relatively scarce now...
Another forumite and I looked at an unrenovated house last week listed at 210k... the property next door was basically exactly the same but HAD been renovated , and sold for 210k a couple of months back. Even renos are losing their steam in Newcastle
Hope this helps, now Im in trouble for making people wait for me
Jamie (who would really prefer Sydney people to steer clear of Newcastle in the future
)
B
brains
Guest
Newcastle is becoming a happening place (i had dinner in Darby St. a few weeks back and couldnt belive the changes up there)
Its a really nice city these days, with the cafes and beach right on the CBD doorstep (not many cities have that) and people will want to live there. (Although apparently they have high unemployment.)
And that can only mean high demand and prices going up. I think cap. growth is a given, the hard part is finding a decent rental return.
What part of the city you from Jamie?
Its a really nice city these days, with the cafes and beach right on the CBD doorstep (not many cities have that) and people will want to live there. (Although apparently they have high unemployment.)
And that can only mean high demand and prices going up. I think cap. growth is a given, the hard part is finding a decent rental return.
What part of the city you from Jamie?
