Hi All, just wanted to get your thoughts about Cessnock, im looking at a property just a few kms north east of the town, which is OK, not great and not bad.
Does anyone know this part of Cessnock just up Old Maitland Road or got general comments about the town, im just in the middle of my DD, so thought it be good to get some outside comments. Property has long term tennants, looks structural OK (pest and building will be done if I go ahead). Rental Vacancy is about 4%, apparently town as a little quiet at backend of 2013, but is still being swept along with the general Sydney Market. Anyway Id appreciate any comments.
Cheers
DM
The area is highly dependent on ag especially vineyards with a bit of upmarket BB and golf. It's a bit off the beaten track and I don't think mining has much of an impact on it over the years. I remember talking to a vineyard manager back in the late 90's who said the town fills up with all sorts of rif raf during the picking season. It's the type of town beneficiaries and drug addicts like. Relatively cheap to live get a bit of casual work and score a hit or two as needed.
I'm working from memory but I can't recall anything that leaps out at you and says 'buy me'.
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