noun

• (UK, Australia, slang) A horse, especially a racehorse.
  "Riding overland from Sydney to Brisbane, along the beautiful North Coast district of New South Wales, I tied my neddy up on the roadside and investigated a bark-shanty some little distance off in the Bush."
• (Australia, slang, in the plural, with "the") The horse races.
  "He′d usually be there at the same place most Saturdays and we ended up sharing a beer talking about the neddies. It just grew from there. I′d nod at him; ask him how he was going. We′d talk racing, have a dig at each other for backing losers."
• (Australia, colloquial, slang, usually in the plural) Horsepower.
  "Weird as it sounds, it was because you weren't going fast enough :-) I've found that if you wick it up too much exiting a curve you tend to do one of those feet off the pegs numbers. Fun, huh? Otoh, if you carry more corner speed the back is more likely to let go gradually, because the tyre is already closer to the edge, so it doesn't require a fist full of neddies to break it loose. I still wouldn't recommmend it for the road..."

noun

• (Geordie, obsolete) Alternative form of netty: an outhouse; a lavatory; a toilet.
  "Neddy, Netty, a certain place that will not bear a written explanation, but which is depicted to the very life in a tail-piece in the first edition of Bewick's ‘Land Birds’ (1797), p. 285."