My partner and I are thinking of investing in the Newcastle area.
Any experiences or suggestions you would care to share.
cheers
Curl Curl
Hi Curl Curl,
I have been looking in the Maitland/Cessnock/Kurri Kurri area outside of Newcastle and it has seen phenomenal growth over the past year especially in the low price ranges…it’s very hard to find positive cashflow properties there anymore. However if you are looking for capital growth, the Hunter area has good prospects because of its proximity to Sydney, relatively lower house prices and expanding industry (check out the Hunter Employment Zone – http://www.hez.com.au). Also many people are now being priced out of the Central Coast and are looking further north.
Hope this helps
-NickHi,
iam not able to see any listings in hunter area in realestate.com .
when u say hunter area is it hunter valley.
Hi
New Investor
Yes, search under Hunter Valley. Or you could try the suburbs….lower Hunter area: Maitland, Cessnock, Kurri Kurri are the major centers (outside Newcastle)….upper Hunter area: Singleton or Muswellbrook (coal mines and power stations are primary industry). Make sure you tick the ‘include surrounding suburbs’ so you can see them all (there is a lot!)Walkernick
I have to agree with you, I am originally from Maitland and I can’t believe the growth in housing values in the area. 5 years ago we sold our house (4bed, rumpus room, large yard) for $200k. It is now worth close to $300k! (I rang a RE agent and asked). I have been looking around the area for a good value property, and while there are many excellent properties available, I haven’t yet found a +ve cash flow one.I really believe it’s proximity to Sydney (Freeway completion) and high prices in Newcastle/Central Coast is driving prices through the roof.
Cheers
I have just returned from Newcastle where my wife and I are purchasing a 2 bedroom inner-city apartment off the plan. We had considered all sorts of areas around Australia, New Zealand and the UK for this IP, but settled on Newcastle due to its burgeoning growth.
We all know that it’s becoming harder to find anything reasonably priced in Sydney, but the Central Coast and Newcastle are fast becoming realistically commutable or home-working options for Sydney, notwithstanding the job market picking up significantly there in recent years. Add to that the large number of international students attracted to the beaches and well-regarded university, plus the ongoing development of several ‘trendy’ cafe strips and we’re satisfied it’s the place to be. It doesn’t yet have the chronic oversupply of CBD units that Sydney, Brisbane and Melbourne (not to mention London) has and there are some good well-priced options on the market off the plan. Our unit has already been valued at 10% over the contract price and it’s not even finished yet.
I’d be happy to recommend agents in the area if you’re interested.Hi,
Can u please provide the agents details.even we are lookign in new castle area.
how much was ur apartment range .price ,floor area etc,when its completed.
can u provide details pls.Hi folks
I operate a mortgage brokerage in Newcastle and am dealing with investors on a daily basis, and am an investor myself.
Walkernick’s mention of the Hunter Employment Zone is spot on. I spoke with a client this morning and his brother has been involved in getting it going over the past 4 to 5 years, and he believes that things will start happening in terms of employment (jobs) etc, which will increase demand for housing.
Raymond Terrace and Medowie are now starting to see some good growth (if you’d told me two years ago I would have laughed!) and new developments at the RAAF base Williamtown mean between 5 to 10,000 new jobs with the move of AWACS (planes with saucers on their backs), will also mean further demand.
Having said this, it is not easy to find positive cash flow properties, and as we all know, learn, learn, learn, research, research research..
If you’re from outside the Nctle area and want some info I’m more than happy to assist, and can be contacted by email [email protected].
Regards
Can u please provide the agents details.even we are lookign in new castle area.We’re using two: Robinson Property (www.robinsonre.com.au) and Walkom Linehans (www.walkom.com.au).
The apartment we settled on was A$320K. Roughly neutral cashflow (slightly -ve initially), but we’ll be using remortgaged capital growth to expand into other properties.
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