lets hype Newcastle

see_change said:
Quite a few people commute from the cove to Newcastle , so it's almost a northern suburb ...

Love to know anywhere within two hours of sydney where you can get a nice waterfront house , jetty , boat ramp with a seperate 2 bed room unit for around 1 mill ( which is around what this sold for , not sure on exact price ) Ok so , return wouldn't stack up as a rental but ...:cool:

Housewise , ours is nicer , but we don't have the jetty and slip way , but those will come at some stage .

http://www.realestate.com.au/property-house-nsw-north+arm+cove-118845323
Click to expand...

Brother in laws parents built a house their, they have over a 1m dollar boat so I'm sure the house would be pretty impressive they use it as weekender and love it up there:) slowly transiting to moving up their full time
 
Are the northern suburbs expected to perform?
Stockton seems to be doing well and fern bay because of the development.
What about williamtown? Nelson bay? Medowie?
I have a place at lemon tree passage, current median is just 295k, which is lower than it was in 2004 after it tripled in value from 2000($115k) to 2004 ($320k)
Would love to see some growth here as it is still our PPOR
 
tomlemke said:
Brother in laws parents built a house their, they have over a 1m dollar boat so I'm sure the house would be pretty impressive they use it as weekender and love it up there:) slowly transiting to moving up their full time
Click to expand...

There's probably only one million dollar boat up there .. If its the boat I'm thinking of , the house is nice , very ... . Modern , curved roof , classic contemporary beach side style , with LARGE boat shed , great jetty / boat ramp . We drive past it going to ours . Two years ago , the boat would have been worth more than the house , but now prices are starting to pick up with some million dollar sales .

Cliff
 
tomlemke said:
any chance you could put some details up of your purchase 6 years ago?

how many places do you have in newcastle?
Click to expand...

Down to two - both units - both in Adamstown between the railway station and the shops ... bought low $200's within a week of each other - now worth mid low to mid $300's still with their 1970's decor (although did repaint and recarpet on purchase).

Wish I'd bought more at the time ... but then hindsight is a wonderful thing
 
see_change said:
There's probably only one million dollar boat up there .. If its the boat I'm thinking of , the house is nice , very ... . Modern , curved roof , classic contemporary beach side style , with LARGE boat shed , great jetty / boat ramp . We drive past it going to ours . Two years ago , the boat would have been worth more than the house , but now prices are starting to pick up with some million dollar sales .

Cliff
Click to expand...

It's about to come up for sale so you could have the catch phrase "the only guy with the million dollar boat " haha
 
lizzie said:
Down to two - both units - both in Adamstown between the railway station and the shops ... bought low $200's within a week of each other - now worth mid low to mid $300's still with their 1970's decor (although did repaint and recarpet on purchase).

Wish I'd bought more at the time ... but then hindsight is a wonderful thing
Click to expand...

That's funny I have a place right near yours, it is in third st I wonder if anythings going to happen with all this talk about the Gates at Adamstown
 
tomlemke said:
hey Propertunity would you be able to do a update on newcastle for us?
Click to expand...
Newcastle is a big place but all on the increase still.

tomlemke said:
have you been buying many places?
Click to expand...
Yes, but that's what I do for part of my living. :p

tomlemke said:
how much more growth do you see for the next 12 months?
Click to expand...
More, especially if Sydney continues on its boom and if the RBA cuts IRs again in 2015.

tomlemke said:
do you think mayfields median will hit 500k this cycle?
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It is already over $445K so only 10% more required to get to $500K approx.

Mayfield has only had 1 flat year of 0% CG (2006) and 1 negative year of -1.9% (2005) in the figures for the last 19 years!! All the other years have been positive. You can't complain about that, in my view.
 

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tomlemke said:
It's about to come up for sale so you could have the catch phrase "the only guy with the million dollar boat " haha
Click to expand...

The boat or the house ? ?

The boat doesn't get used much from what we've seen , but that's true for most boats .

Apparently a bad time to be selling second hand boats .

Cliff
 
Propertunity said:
Newcastle is a big place but all on the increase still.

Yes, but that's what I do for part of my living. :p

More, especially if Sydney continues on its boom and if the RBA cuts IRs again in 2015.

It is already over $445K so only 10% more required to get to $500K approx.

Mayfield has only had 1 flat year of 0% CG (2006) and 1 negative year of -1.9% (2005) in the figures for the last 19 years!! All the other years have been positive. You can't complain about that, in my view.
Click to expand...

love the graphs thanks for taking the time to answer all my questions : )
 
see_change said:
The boat or the house ? ?

The boat doesn't get used much from what we've seen , but that's true for most boats .

Apparently a bad time to be selling second hand boats .

Cliff
Click to expand...

The boat : ) I don't think if you spent that much on a boat you would worry about resale. I think he spends more time cleaning it then actually using it!
 
Newcastle is moving fast and doesn't seem to be slowing just yet. I'm seeing a huge number of buyers hitting open homes with most being snapped up within first week 300-400k range. Nearly everything is listed "offers over". I offered 50k over asking on a property in Wallsend a few weeks ago and didn't get it.

My Waratah IP has gone from mid 300's 18 months ago, plus 30k reno, to 480k (conservative bank val in March). With an older property on 1/3rd smaller block selling for 550k in same street could be pushing 600 market value going off recent sales...

Newcastle hype...it is happening and has been for a while.
 
I have been looking at Newcastle for the last month now jumping from suburb to suburb and have come across Carrington as one of the only suburbs not advertising 'Offers Over' across all it's listings.

The houses are really small however the proximity to the city and rental returns seem okay although I've been told it's pulled back a bit lately. What do you think of the area Propertunity?
 
Ellis said:
I have been looking at Newcastle for the last month now jumping from suburb to suburb and have come across Carrington as one of the only suburbs not advertising 'Offers Over' across all it's listings.
Click to expand...
That's because most listings there are advertised as "Preview" or "Auction" :p

Ellis said:
The houses are really small however the proximity to the city and rental returns seem okay
Click to expand...
Yes - this will put it in good stead for a long time to come.

Ellis said:
although I've been told it's pulled back a bit lately.
Click to expand...
You have been misinformed. :rolleyes: Quite a few sales there now in the $600-700K bracket.

Ellis said:
What do you think of the area Propertunity?
Click to expand...
Its one of my fav places to buy for CG.
 
tomlemke said:
Glad to hear that everyone is fine! the neighbours have a 10m avocado tree on the boundary that some how didn't fall down : )

Went for a drive around town to see how bad the damage was and noticed this place that sold before auction with half the roof missing!
Is that the sellers responsibility if it hasn't gone unconditional yet?

http://www.realestate.com.au/property-house-nsw-merewether-119551915
Click to expand...

i reckon that one's probably going to get hit with a bulldozer or at least roof ripped off and extended up anyway, but interesting question :)
 
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