Newcastle

[JWR]

I was up in Newc yesterday - actually went a lot further than that - 5.5 hours on the train/bus from my doorstep - and am Knights No:1 fan so I come to watch every home game.

Geographically Cessnock isn't too far. Newcastle should become like Sydney over time and I have a 50 year time horizon so I would like to plan for the future. Eventually Cessnock will become its own CBD like Parramatta in Sydney (I would think - remembering that I can't ) and so will Maitland imo.

I can pay up to $350k as long as it is close to cash-neutral (which is why I would prefer 2 for 175k)

I've been to Cessnock before as Andrew Johns is from there - maybe for you guys it is a long way to Newc but in Sydney it doesn't seem too far.

What about Central Coast - any good areas to invest there for 200-250?

 

[Bon]

Well, nothing like getting in early if you think Cessnock is the place to be.

I live in Sydney 50 weeks of the year, I'm just up here for 2 weeks... Cessnock is not close at all. It's a completely different area.... people in Newcastle don't commute to Cessnock on a daily basis and vice versa and I have a very hard time seeing them do that. Newcastle people are city people, Cessnock are more bush people.. different types of people.

How can you compare Cessnock to Parramatta? Parramatta is like 30mins from Sydney... Cessnock is like an hour from Newcastle. Maitland is 40-45mins away and it's a booming suburb right now, it has it's own cbd etc. and is kind of underpinned by the coal mining activity nearby.

 

[JWR]

Well its got good growth prospects at least along with Maitland (but Maitland is a lot closer and around the same price - so probably a better buy.)

Have you tried driving to/from Parra in peak hour? It took me over 2 hours to drive from my house in Bondi to Castle Hill (a little further out) from 4-6pm. Even from the City to Parra it was over 1.5 hours. Obviously on the train is quicker in peak hour - but still over 30 mins - probably around the same time as Maitland to Newc.

Only an hour to Cessnock without the traffic - so not un-commutable - especially when a train station is eventually built.

 

[Bon]

Why does Cessnock have good growth prospects? It's a kind of low socio-economic area.

Have you tried going anywhere in Sydney in peak traffic? it takes me nearly half hour to go from Alexandria to Dulwich Hill, or vice versa.

Newcastle people don't think like Sydney, man. The thought of driving 1 hour each way is ridiculous to them.

 

[JWR]

Well the entire Hunter has good prospects given the mining boom, amongst other reasons.

They don't think the same in Newcastle as Sydney YET - but its a pretty big city now so people will want to live further out due to affordability.

Also, like those who commute from the Central Coast to Sydney for lifestyle reasons, some people might still want a little more of a rural feel in Cessnock after Newcastle becomes very urban/commercial and so will be happy with the 1 hour drive (or train by then)

 

[Bon]

Yeah, I don't see it personally. But, who knows.

 

[JWR]

Even if it doesn't grow by as much as the surrounding towns - at least it will benefit from the Hunter region's growth.

I'd rather buy in Maitland but if it were for the right price I would love to own something in Cessnock as well.

 

[Pete Wargent]

Great feedback, thanks guys.

 

[lizzie]

Newcastle people don't think like Sydney, man. The thought of driving 1 hour each way is ridiculous to them.

As someone who lives in Newcastle - and has done for 20 years - and invests in Newcastle ... I wouldn't touch Cessnock.

Anything more than 15-20mins by car is too far for a Novocastrian ... and our peak hour lasts about 10 minutes.

Hubby took me out to look at a waterfront property at Belmont the other week - sheesh it took forever to get there! Needed a packed lunch and all. All of about 35 minutes, but no way was I moving that far out of town! Even for waterfront. That is how Novocastrians think.

For a unit I wouldn't buy in inner Newcastle - ie, Merewether, Newcastle West etc. I would buy in the next ring out of Adamstown, Hamilton, Broadmeadow, Carrington, Wickham, Tighes Hill etc ... all of which are about 5 mins from the CBD (except during rush 10 mins), beaches, major shopping centres, trains, cafe strips etc ... and I'll throw Charlestown into the mix because it is becoming it's own centre (like Parramatta).

You can buy stock standard red brick units in inner Newcastle for around $310,000 which will rent for around $300/wk - or you can buy the same thing in any of the other suburbs for around $250,000 and get around $300/wk rent.

http://www.realestate.com.au/property-unit-nsw-adamstown-108789331

 

[akiwinut]

Does Cessnock even have a train station though? If it doesn't but soon gets one that would improve values (and it must be getting one soon enough right?)

Only if you count the coal train when it stops, the train crossing only got barriers a couple of months ago...mind you near by Neath has a train station but judging by all the weeds it doesn't get used much....Maitland is the closest.

 

[akiwinut]

WTF bro! You need to come up here and drive from Cessnock to Newcastle and tell me how close it is

45min more or less but I don't think many people up here commute to Newc, but I could be wrong (I frequently am...)

 

[cjandlj]

especially when a train station is eventually built

Oh that made me chuckle!

Sorry but the only train lines being built in the Hunter are for the Coal trains!

Just ask any Novocastrian about "nic noc" and you will get your answer. Prospects yes, when the Sydneysiders with no idea and that have no idea what a bad reputation it has spend up big go your hardest...

Honestly if you want some advice from locals trust me when I say to save money on a property to be 10 - 15 kms away is not really the go as it is not like in Sydney. Your out in the boon docks with basically no transport. I dont go well travelling past Beaumont St in Hamilton! But for most Novos a half an hour commute from the lake is about the limit.

If you really want 10-15 kms away consider Medowie due to the RAAF base.

But personally I prefer my inner city rim areas such as Maryville, Wickham, Tighes Hill, Carrington. Wickham has the "proposed" transport hub being talked about so makes it attractive for potential. You can still pick up your cheaper under 350K properties here and the rents are $430 - $480 for this price range.

And honestly.... dream on about the train station in cessnock

 

[cjandlj]

If your talking about the Hunter thats a different story and a different market and again I dont think Cessnock is necessarily your best option there either.

Still too far...

Good old nic nock!

 

[JWR]

Underappreciation by the locals makes it cheap! And good for me and you to grab a bargain....

Just like Blacktown/Mount Druitt in Sydney.

I am just looking at Cessnock from a geographic point of view - and my opinion is that over time we will see urban sprawl within Newcastle due to population growth etc... so potentially it is a good investment.

Although geographically speaking, Maitland is a better choice if you can get it at around the same price because it is half the distance to Newcastle than Cessnock is.

 

[cjandlj]

No probs JWR you've obviously done your research....whatever floats your boat. Maitland would be a much better investment in my mind.

 

[Bon]

JWR,

buddy, you are SMOKING CRACK! I mean that in the nicest possible way.

Have a look at who's posting, we are all locals! I was born here and lived here most of my life until I was 22-23... and you know what? I have NEVER been to Cessnock and I probably never will.

Have you seen how much land is between here and Cessnock? I reckon they could release some land inbetween for people to build flash new houses on before the situation gets so dire people have to move out to Cessnock into old **** boxes, or knock them down and build.

PS. Guess where I've been in the last week while I've been here based in Hillsborough? Hamilton, Hamilton, Hamilton... are you getting the picture?

But, rest assured a trip to Cessnock for some sight seeing is high on my agenda.

 

[lizzie]

I am just looking at Cessnock from a geographic point of view - and my opinion is that over time we will see urban sprawl within Newcastle due to population growth etc...

Read this out to hubby so he could have his laugh for the day. You will only see this happen if you're looking at 100+yr time frame.

Listen to the locals.

Fletcher/Minmi/West Wallsend is considered the out-the-back-of-Blacktown of Newcastle - and there is a hell of a lot of land between those and Cessnock.

Don't hold your breath for a train line either ... the councils up here have been arguing about the train line into the Newcastle CBD for 30+ years and nothing has happened yet.

The new link road that is finally going in was planned 40 years ago ... and they are still not building it in it's entirety.

Nothing happens fast in the Hunter - the main reason being is that the government money raised in the area (taxes/royalties etc) is ripped out of the area and used for infrastructure in Sydney ... it's even taken 20years for the major hospital that services from the Central Coast to the Qld boarder to get airconditioning (only last year).

 

[cjandlj]

^^^ What they said ^^^

Plus the fact there is a hell of a lot of flood plain between here and cessnock that sort of prevents them from building anything

 

[JWR]

Ok points taken. Thanks for the info.

I wouldn't buy in Cessnock for market price - but if one were to pop up 20% below market value I would jump on it quick.

 

[ali]

What about Central Coast - any good areas to invest there for 200-250?

You can definately get cf+ at the northern end at that price as rents are going crazy but prices are stagnant. It will likely see population pressures before Cessnock as Sydney and Hunter population centres spread along the coast.

As for Cessnock, it looks pretty good on paper - mining town + wine country nearby, but, well, you really need to go there. I am sure it will do well out of the mining boom, but when that ends? I can't see it ever becoming a really desirable place to live.

Re train line: Cessnock had a train, but they took it away. It is highly unlikely they will put it back!

Good luck!
Cheers, Ali