Ok let's talk Newcastle suburbs..
The place is getting more and more well known as a convenient alternative to Sydney. The climate is better than Sydney's and the people are more laid back. Traffic and other issues aren't as severe and property is much cheaper than Sydney. I grew up there and know it well and recently got the Terry Ryder reports on Newcastle and the Hunter where he dissects it a little bit and quotes all of the best performing growth suburbs over the past 10 years. There are billions of dollars of investment being pumped into the hunter valley into numerous industries (coal, energy etc) combined with a major road being built which will link everything better to Newcastle and put everything in place for some great growth. Hell there are a few bogans, but you get that virtually everywhere in Australia.
But let's talk about which suburbs in particular going forward are likely to be the star performers.. I'll start:
- Premium suburbs (E.g. New Lambton, Adamstown) will continue to grow steadily, but no huge jumps.
- Lambton has now become a premium suburb and is expensive to buy into, but there are still a few bargains left.
- Mayfield, Carrington, Wickham, Islington, Maryville etc will continue to grow nicely and also the bad demographic there is slowly morphing into younger people renovating with more money and the junkies are slowly being priced out more and more.
- Charlestown is becoming quite trendy, and still a few bargains there, but buy-in price is getting quite high.
- Shortland offers some of the best yields due to university proximity and has also shown some strong capital growth, so is probably a winner when crunching the numbers.
- Up in the hunter Muswellbrook is a favourite because the yields are currently very attractive and the buy-in price is still very good value. There are also rumours that Branxton will boom once the new road is built, but it hasn't moved an inch in the past year and is quite a risk, where as Muswellbrook is still cheap to buy into and the yields are great right now with basically no risk. But I wanna keep this discussion really to inner Newcastle and Lake Macquarie if we can etc.
For those familiar with the area, what are your predictions / favourites???
I am looking to:
- Buy a PPoR < $300k and renovate to add value
- Live in for perhaps a few years
- Sell for the capital growth a bit later and upgrade to a better PPoR.
- Newcastle yields have traditionally been terrible (been there done that), but I think capital growth is going to be attractive.
The place is getting more and more well known as a convenient alternative to Sydney. The climate is better than Sydney's and the people are more laid back. Traffic and other issues aren't as severe and property is much cheaper than Sydney. I grew up there and know it well and recently got the Terry Ryder reports on Newcastle and the Hunter where he dissects it a little bit and quotes all of the best performing growth suburbs over the past 10 years. There are billions of dollars of investment being pumped into the hunter valley into numerous industries (coal, energy etc) combined with a major road being built which will link everything better to Newcastle and put everything in place for some great growth. Hell there are a few bogans, but you get that virtually everywhere in Australia.
But let's talk about which suburbs in particular going forward are likely to be the star performers.. I'll start:
- Premium suburbs (E.g. New Lambton, Adamstown) will continue to grow steadily, but no huge jumps.
- Lambton has now become a premium suburb and is expensive to buy into, but there are still a few bargains left.
- Mayfield, Carrington, Wickham, Islington, Maryville etc will continue to grow nicely and also the bad demographic there is slowly morphing into younger people renovating with more money and the junkies are slowly being priced out more and more.
- Charlestown is becoming quite trendy, and still a few bargains there, but buy-in price is getting quite high.
- Shortland offers some of the best yields due to university proximity and has also shown some strong capital growth, so is probably a winner when crunching the numbers.
- Up in the hunter Muswellbrook is a favourite because the yields are currently very attractive and the buy-in price is still very good value. There are also rumours that Branxton will boom once the new road is built, but it hasn't moved an inch in the past year and is quite a risk, where as Muswellbrook is still cheap to buy into and the yields are great right now with basically no risk. But I wanna keep this discussion really to inner Newcastle and Lake Macquarie if we can etc.
For those familiar with the area, what are your predictions / favourites???
I am looking to:
- Buy a PPoR < $300k and renovate to add value
- Live in for perhaps a few years
- Sell for the capital growth a bit later and upgrade to a better PPoR.
- Newcastle yields have traditionally been terrible (been there done that), but I think capital growth is going to be attractive.