Can't say for other areas but I know quite a few agents in Brisbane don't put properties under contract even after unconditional.
Maybe partly to do with the difference in sale process.
Newcastle but where ?
- Thread starter Logan
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Can't say for other areas but I know quite a few agents in Brisbane don't put properties under contract even after unconditional.
Maybe partly to do with the difference in sale process.
Sorry to derail but what is everyone's thoughts on stockton in terms of the rental market and resale?
Is there a demand for newer stock or certain type of stock?
Is there a demand for newer stock or certain type of stock?
Agents around the Illawarra area are notorious for not marking things under contract too. At least half of the properties I've called up about in the last couple of weeks have been sold, though usually the agent will say it went under contract that morning... "that morning" every single time... yeah right!
The key down that way seems to be if there's no listed upcoming open inspections then the property is sold.
The key down that way seems to be if there's no listed upcoming open inspections then the property is sold.
Mayfield has a median of $390,00 with a 10 year growth of just 3.7%pa.
For a median price to be worth $390k today, the start price would of had to of been around $42,000 for it to achieve 16%pa growth for 15 years. Were houses worth $42k only 15 years ago ?
I guess that's what building inspections are for. I would imagine dodgy jobs would be reasonably obvious, 15 years down the track. Everyone hunting in Newcastle should also consider flooding risk. Much of inner Newcastle is flood prone, and while it doesn't happen often, if you're in a flood prone area make sure your insurance covers it. You should also check for flood damage from the 2007 floods. Some houses, particularly in the areas being discussed suffered quite severe damage. If the repairs were done well, then your ~100 year old house is probably better for it, but if it wasn't then issues may continue to arise.
Almost - yes.
Median today $390K (actually end 2014). Median in 1999 was $99,000. So almost quadrupled in that time.
My simple maths calc is (390,000-99,000)/99,000/15*100%
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As others have said, when the market is hot, agents get too busy to be bothered putting their properties under contract or sold on the internet. It is annoying - but they don't need to be accurate or to call you (or me) back to follow up. They can sit back and be order takers.
I have more than enough work on at present to be trying to drum up business, I assure you.
As others have said, when the market is hot, agents get too busy to be bothered putting their properties under contract or sold on the internet. It is annoying - but they don't need to be accurate or to call you (or me) back to follow up. They can sit back and be order takers.
how much further do you think mayfield will go? i bought end of 2012 corner block r3 zoning for 300k current rent 420 just put up to 430p/w! last val two months ago for 385k
Please start a new thread for Stockton.
You've reminded me of a property I purchased in Stockton for a client based in Singapore. 12 months later I see the advert for the same property with about 4,000 hits on it
I called the agent only to be told he leaves all his properties up there to get enquiry. WTF? Not marked sold or under contract or anything!
I like the looks of Stockton too. I suspect it's one of those 'under-rated' areas that will do really well - apparently it's already started.
Interesting to see that there were less sales last year than the other years listed - a surprise to me because I thought that the ripple effect had already started there.
Maybe there were less sales because there were less places to sell?
I definitely want to jump on the Newcastle/Stockton bandwagon but there doesn't seem to be 'a good time'.
Interesting to see that there were less sales last year than the other years listed - a surprise to me because I thought that the ripple effect had already started there.
Maybe there were less sales because there were less places to sell?
I definitely want to jump on the Newcastle/Stockton bandwagon but there doesn't seem to be 'a good time'.
Yep I'm just trying to get some feedback from people who have investments and get their thoughts on the rental market, demographics and stock appeal from a development point of view (i.e. is it easy to sell new stock? villas? etc).
Not sure why anyone would want a PPOR or to rent in Mayfield area unless you had to.
Was there yesterday to clean up a house for relative about to be sold , the
house has been vacant for a few months now and was professionally cleaned
when they vacated and left spotless.
Spent a number of hour washing what I presume is black coal dust off
the outside of house , the inside polished floor boards had to be completely
vacuumed and mopped again and again from a fine black dust that would not even wash
out of the mop head at the end.
I would hate to think what someones lungs are like after a few years.
As they say Coal dust kills.
Was there yesterday to clean up a house for relative about to be sold , the
house has been vacant for a few months now and was professionally cleaned
when they vacated and left spotless.
Spent a number of hour washing what I presume is black coal dust off
the outside of house , the inside polished floor boards had to be completely
vacuumed and mopped again and again from a fine black dust that would not even wash
out of the mop head at the end.
I would hate to think what someones lungs are like after a few years.
As they say Coal dust kills.
You've done well - congrats.
Well located suburbs close to the CBD always tend to do well over time.
My thoughts on Stockton are that in the past there has always been concerns over the viability of the ferry which might make Stockton a bit risky, it seemed the state government could pull the pin on the ferry at any time. Without the ferry Stockton aint so close to Newcastle which would significantly reduce its appeal and therefore value IMHO, but as the expansion continues north of Stockton with a lot more houses in Fern Bay, etc. patronage of the ferry should only improve so the chances of the service being closed should be less which makes Stockon look pretty attractive when compared to prices just across the harbour.
I looked at a place in Stockton last year that I really though was a good buy but it was just a bit out of my reach financially at that point in time.
I would agree with comments re ferry, there's a fair bit of development happening north of the river & people regularly commuting from Anna Bay / Port Stephens to town via Stockton & the ferry. There are some lovely homes over there. I do wonder if prices will stagnate in the short to medium term with the fern bay development & also more at Medowie.
Rather than being rude to someone who has spent years providing valuable info to people about a broad range of property issues and areas you might find a more reliable set of indicators in combining sales rates with stock on market. This will tell you how many are available compared to the long term and also how fast they are selling.
