Hi, i am new to these forums, so please excuse my ignorance if I say something thats already hidden somewhere in here.
I am from Sydney and looking at purchasing an investment property. I have been looking for a studio, or 1b in the eastern suburbs as I feel its a 'safe' option.
I have however found a really good property in Newcastle, but dont know too much about the area and its growth forcasts, or if its just a good investment decision to purchase there or not ??. I know there are lots happening in NTL, with development of the city, the overseas passenger ship terminal etc, so in my eyes, its a bit of a risk, but also pretty safe in the long term.
Does anyone have some opinions on this. Your comments would be very much appreciated.
Hi walexx,
I'm new too and came upon you question. We have just purchased a property in one of the outlying suburbs near Newcastle because of the expected growth and structural stuff going on. We did a lot of homework on the property and found it to be very appealing. New roads going in and schools and coles going up all over the place.
Hope this helpsHi Walexx. welcome to the forum. It sounds like you have done a bit of research on Newcastle though I'm unaware of any passenger terminal being built in the near term. Newcastle has a well established university offering Medicine / Law / engineering / nursing / science etc. 2 solid building society's an air force base just out of town…do I need to go on? Rental vacancies are at a critical level.
Coming home from work the other day I came across loads of people and cars everywhere. I slowed my trusty stead down (on my pushy) to have a look at what I thought was a car crash or the second coming. No, it was an open house for a rental property. Really sad as ther was a cross section of people there, not just students….great for us though, a poor overall position for any community to be in. Go to Domain .com and do a search on a particular suburb.
I don't think you need to worry about growth.
Good luck, PM me off line if you wan to discuss particular suburbs.Thanks Janrayco
Yeah, Ive been doing a bit of research, but you just never know if you are on the right track when its not an area you are familiar with. Everyone says all the right things, but id rather get advice from people not trying to sell me something.
Where did you purchase ??. The area we are looking at is 'Carrington', do you know much about that area ??. It seems just up the road from the city and in a good spot close to some new developments going up if the DA is approved, in Honeysuckle road or something like that, that I found on the department of plannings website. I like the idea of the overseas passenger terminal. Says alot about the growth of an area and the exposure it will get.
Thanks again for replying to my post. Very much appreciated.
I have an IP at newcastle.. and certainly doing well in terms of rental return.
Suggest to buy around John Hunter Hospital with good access of transport (poor transport in Newcastle)
or around Uni of Newcastle.. doing well currentlyNewcastle CBD is not really a good option.. most activities happen outside the CBD
Hamilton… a nice spot as well
Expensive suburb – Cooks Hill and MerewetherWe bought in Fletcher
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