Bowral 2nd airport

[myviolet]

Hi all,

I'd like to hear your comment about Bowral 2576

I plan to buy 1 or 2 IP at Bowral

i heard about 2nd airport will be built there, is it still a plan ?

and do you have any comment about this area ?
do you like this area ? is it a good idea to buy IP here ?
the price is at the bottom now in Bowral, i wonder why the price drops this far,
1000 m2 block cost about 300k
is it a good investment ?



thanks
Tony/Sydney
Cheers

 

[geoffw]

I have no idea about Bowral specifically.

But generally- I would suspect that a small community like that would have little chance of big growth. The land area of the town is small, and the land around is very big. Which may mean that there is a lot of land available for development, a lot of land available in the future, and therefore limited growth.

I would suspect that of just about any small or medium town.

I would also suspect that a good purchase in just about any major city would do FAR better than anything in Bowral- or than in any other smaller community.

It's demand vs supply. And if the supply (ie, town blocks- it's easy for a town to spread) is much bigger than the demand then the price will not do much.

Bowral may actually do quite well. I say that to protect myself. And also because it may. (It is a commuter centre)

But a small country town is not an ideal way to get long term growth. Which is the object of many of us who invest for the long term. Naturally.

 

[myviolet]

Hi Geoff,

Yes, Bowral has alot of room to grow, and your reason makes alot of sense to me, i might invest somewhere else instead.
i think i will research in my backyard first, about 50km from Sydney
North Rocks is a nice area could be my next research and houses here get sold very quickly, i dont know why ?

thanks for your response Geoff.

Cheers
Tony

 

[HeXa]

I would agree with geoffw... sleepy country towns are nice places to retire where you can get enough land to do just about anything.

 

[GreatPig]

I followed Bowral 5-10 years ago and noticed prices for the older part of town (ie. central part) did go up quite significantly during the boom, with yields dropping to similar rates to Sydney. The new development areas on the outskirts were always cheaper though. Not really sure about the rental market, but REAs indicated there was lots of demand at the time (as they would), and certainly a few places I did inspect were tenanted. Not sure why so many would have been renting, or where they would all have been working.

Haven't looked down there for some time now though, so don't know what it's like any more. I used to like it as a town, even considered moving down there, but it became a bit too touristy and is also cold in winter (for a Sydney-sider at least ).

Cheers,
GP

 

[Kate Peters]

i live and work in the area and have decided to build an IP in East Bowral. (not novice investor).There has been no talk of an airport going in, don't know where that came from.The Southerrn Highlands has become very popular due to the close proximity to the city, the amount of land, quality of housing and the lifestyle. It is not cheap, expect to pay around $500 000+ for quality housing - Bowral itself/ East Bowral. There is strong rental demand. Go for executive level as money is there. Land is going quite cheaply, many bargains to be had as council can be a real pain with their regulations - 12 months of paperwork to get ours off the ground with stupid modifications to be made. Land not selling, houses are, people don't want the inconveneience. Build a project home and expect to make around $150k in capital straight off.
Bowral is no longer a small country town. There are many commercial developments occurring in Bowral and Mittagong, lots of money being put into the area.
Kate

 

[myviolet]

Thanks Kate

i went to Bowral last Fri, just to drive around and get a quick look overthere, it seems to be a nice area, i like the view and the air there, i wish i could buy one just to make it as a holiday house
i read the newspaper and alot of house have tenants in it
i wonder if we can find a job there easily and is there a job demand and where are they all working ?
thanks for your info

cheers
Tony

 

[Kate Peters]

Many people commute to Sydney - lots of pilots, airline stewards etc. however there are plenty of job opportunities locally, mainly retail. New Mittagong marketplace has opened stage 1 with plans fro further stages, bunnings warehouse is currently under construction and a homemakers centre due to start, lots of opportunities.
It is really funny, we live here but don't see it as a tourist destination but are amazed at times to the amount of traffic, eg this weekend, not a public holiday for us on Friday but couldn't go anywhere for lunch because full of tourists.We see it as a great place to live, 4 distinct seasons, close to Sydney, Canberra, Goulburn & Wollongong but don't really need to leave the area for shopping anymore.
Kate

 

[MishMash]

It definitely isn't cheap! And there is definitely no airport planned for the area I grew up on Mt Gibraltor (Mittagong) and my parents still live there. There aren't many jobs in the area, particularly for young people and a lot of people commute because of this. A lot of people run small businesses.
LOTS of tourists and parking is a *****.
Lots of retirees that drive BMWs.
There are lots of great shops and many new developments happening, very pretty and leafy, clean air and big blocks of land. All the blocks where my parents live are 1 acre plus.
It is exactly 2 hours from Canberra and about 1 hour from Goulburn.
Lots of good schools, both public and private.

 

[SillySausage]

Here's an article

I know this has been going on for years but what would happen to prices out west if it was given the green light ?

 

[GreatPig]

If they want a new airport, I reckon they should build it near Goulburn and build a VFT between Sydney, Canberra and Melbourne, similar to the Shanghai maglev, passing near the airport. If the VFT was fast enough, you wouldn't even need to fly between Sydney and Melbourne (actually, you could probably then build the airport near Albury and make it both Sydney and Melbourne's second airport ).

Another benefit of the Goulburn area is all those trainee police there to help with security... provided you haven't watched too many police academy movies...

Cheers,
GP

 

[myviolet]

thanks all for your response.

 

[Peta]

I live in the Southern Highlands (Moss Vale) and I am looking at an IP in Bowral myself. There is a new inland port being built near New Berrima - moving up from Wollongong. More ppl, more jobs - more renters! Yay!