Is Newcastle a good option?

[Of The Vultures]

I never quite know how to answer this type of question.

That's ok, I guess I was just after your opinion as you know the area so much better. The fact that it's grown recently is not going to put me off just yet, it'll be a long term hold for me. Looking for a 4 bedroom house to spruce up and rent out by the room to students. From what I can see Mayfield and Islington are a tad cheaper but I need to get myself up there and do some legwork.

 

[Simon]

That's ok, I guess I was just after your opinion as you know the area so much better. The fact that it's grown recently is not going to put me off just yet, it'll be a long term hold for me. Looking for a 4 bedroom house to spruce up and rent out by the room to students. From what I can see Mayfield and Islington are a tad cheaper but I need to get myself up there and do some legwork.

In my experience the return doesn't warrant the downside unless you have 5+ bedrooms.

 

[Of The Vultures]

Really? What's the downside? Tenant quality?

 

[SYD2013]

But my understanding was was the 5 bedders are considered a "boarding house" in NSW and subject to the new laws that have came out with regard to renting these type of properties out by the room?

 

[Simon]

Really? What's the downside? Tenant quality?

Higher summer vacancies, higher outgoings and more hands on management to name three.

 

[Simon]

But my understanding was was the 5 bedders are considered a "boarding house" in NSW and subject to the new laws that have came out with regard to renting these type of properties out by the room?

Doesn't seem to be changing anything at the grass root level in Newcastle.