Hi all,
have been looking through threads for Newcastle advice and can't find exactly what I want, so here goes!
Spent some time in late 2013 looking into Newcastle and went up a couple of times. I am looking for a unit as I want to keep maintenance low / am time poor. Looking for something relatively new for the depreciation benefits and also to keep maintenance down. I don't want off-the-plan as there is a chance I'll take a career break in the near future which will affect my ability to obtain finance. $200k-$450k price range.
Honeysuckle is appealing but I wonder how much more supply will come on as the area develops further. Also a lot of it is managed apartments. I like East Newcastle, it seems to have more permanent appeal although most stuff gets snapped up quick. Despite talk of refreshing Newcastle CBD and West Newcastle I just can't imagine those suburbs getting that much more appealing. Strata there also seems to be expensive, potentially for the security (and generally dodgy looking swimming pools / token gyms etc).
Other suburbs with attractive yields include Wallsend and Mayfield. I have found a particular nice yielder in Wallsend but I don't get the suburb. Rental vacancies seem low but it doesn't seem in as much proximity to things and could be subject to further low cost developments (??).
Anyway any thoughts on suburbs most welcome!
Thanks
Emma
have been looking through threads for Newcastle advice and can't find exactly what I want, so here goes!
Spent some time in late 2013 looking into Newcastle and went up a couple of times. I am looking for a unit as I want to keep maintenance low / am time poor. Looking for something relatively new for the depreciation benefits and also to keep maintenance down. I don't want off-the-plan as there is a chance I'll take a career break in the near future which will affect my ability to obtain finance. $200k-$450k price range.
Honeysuckle is appealing but I wonder how much more supply will come on as the area develops further. Also a lot of it is managed apartments. I like East Newcastle, it seems to have more permanent appeal although most stuff gets snapped up quick. Despite talk of refreshing Newcastle CBD and West Newcastle I just can't imagine those suburbs getting that much more appealing. Strata there also seems to be expensive, potentially for the security (and generally dodgy looking swimming pools / token gyms etc).
Other suburbs with attractive yields include Wallsend and Mayfield. I have found a particular nice yielder in Wallsend but I don't get the suburb. Rental vacancies seem low but it doesn't seem in as much proximity to things and could be subject to further low cost developments (??).
Anyway any thoughts on suburbs most welcome!
Thanks
Emma
