Anybody own anything there? I passed through it yesterday toward the end of a long horror drive down the coast. It's a while since I've been there. Lots of flash new units near the beach. And quite a few ordinary 70s ones near the lake (which I reckon is a better spot). Just looking on realestate.com.au the daggy 70s units lakeside are pretty cheap - around $250K (and a bit higher with views). The price of the older units would have suffered in comparison to the newer ones. Quite a few are sold furnished. I'm tempted to pick one up and rent it out during the holidays and use it myself other times - Forster is an okay drive for a long weekend.
Forster, NSW
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Heard theres an oversupply of units up there with all teh new ones coming on line. Markets still very much targeted to the retirement market. There would probably be a few holiday homes up there. You'd have to run occupancy numbes at 6-8 weeks I've been told. But some get up to 6 months full occupancy. Varies depending on property type and location..etc.. More demand in the Smiths Lakes, Blueys region I reckon. A lot of Syd money going in that area now, remiscence of Terrigal and Avoca areas back in the 80s and 90s. Forsters still pretty much a retirement and downsizer region so I reckon high rise units will not do as well as say villas or small houses. Am thinking of that area myself and all the way up to Port but its a long term trade. You need Syd to start taking off first before it spreads into these regional areas. But then again if you were a couter cyclical investor, should get set now. I know some builders/investors who have picked up some nice land all the way up to Harrington in the last boom and pretty much sitting on them now as its too exxy to develop with not enough underlying demand pushing prices further north. Let us know what you find out.
Yep, lots of oversupply at the $500K+ end of the market. And the number of new units has pushed down the value of the old stock. It's the same story as Port Macquarie - I've got a new holiday unit there.
I noticed a few unit sites in Forster with nothing happening - presumably waiting for the next kick.
My in laws are moving to Forster soon. Having a cheap unit there would be handy. It would be a lifestyle buy i.e. I wouldn't expect to make much money from it. I'd say 6-8 weeks rental across the year would be realistic.
Not sure of the house prices. And not sure of the block sizes. There are still lots of old houses there.
I noticed a few unit sites in Forster with nothing happening - presumably waiting for the next kick.
My in laws are moving to Forster soon. Having a cheap unit there would be handy. It would be a lifestyle buy i.e. I wouldn't expect to make much money from it. I'd say 6-8 weeks rental across the year would be realistic.
Not sure of the house prices. And not sure of the block sizes. There are still lots of old houses there.
We're sitting on a 27 yr old home in the area still deciding which way to use it for the long term best.
What I do know, according to agents, is that if you're aiming at the "tourist market", the closer your IP is to the beaches, the higher the return and the longer you're likely to be able to rent it out for. Obviously, the Xmas holiday period is the time of greatest demand.......it's also the best bloody time to stay away from the area while the tourists are on their "feeding frenzy". However, if you're looking at longer term tenants, proximity to beaches is not usually such an important factor.
What I do know, according to agents, is that if you're aiming at the "tourist market", the closer your IP is to the beaches, the higher the return and the longer you're likely to be able to rent it out for. Obviously, the Xmas holiday period is the time of greatest demand.......it's also the best bloody time to stay away from the area while the tourists are on their "feeding frenzy". However, if you're looking at longer term tenants, proximity to beaches is not usually such an important factor.
I much prefer the units with a lake view. They'd be lucky to get 6-8 weeks holiday rental per year.
I'm not expecting to make money on it - it's more a place to stay when in town visiting the in-laws.
I'm not expecting to make money on it - it's more a place to stay when in town visiting the in-laws.
hi all
my double duplex sites are in harrington waters adn there is alot still to so in.
I am also doing a 7 townhouse house development in harrington looking at sand and starts in march 2007 at this stage.
forster has been missed because of the main rd detouring around it.
if you are going to look for growth look at harrington or harrington waters
the harrington waters estate is being developed by the same people that built the hunter valley gardens and are between 650 to 1.2mil a single storey house 5 blocks from mine sold for 1.2 mil one way and about 9 blocks up to the other, sold for 950k.
in harrington waters they have a bilo, two resorts, golf club, 2 marina's, hairdresser,3 restaurants.
and is its own village.
the land values have increased as the taree council dcp has put up the land size for a duplex from 650sq to 750sq so only the large blocks over 500k now can be duplexed.
my double duplex sites are in harrington waters adn there is alot still to so in.
I am also doing a 7 townhouse house development in harrington looking at sand and starts in march 2007 at this stage.
forster has been missed because of the main rd detouring around it.
if you are going to look for growth look at harrington or harrington waters
the harrington waters estate is being developed by the same people that built the hunter valley gardens and are between 650 to 1.2mil a single storey house 5 blocks from mine sold for 1.2 mil one way and about 9 blocks up to the other, sold for 950k.
in harrington waters they have a bilo, two resorts, golf club, 2 marina's, hairdresser,3 restaurants.
and is its own village.
the land values have increased as the taree council dcp has put up the land size for a duplex from 650sq to 750sq so only the large blocks over 500k now can be duplexed.
Harrington waters is probably over four hours away from Sydney. Harrington is not on the main road it's on a small local road that services two small communities . The road that Forster is on ( the Lakes way ) is a much bigger road and services the whole part of it's coast.
I actually don't mind the feel of Harrington waters ( apart from the fact it's not really near anywhere else ) , but gross , please don't let the truth get in the way of you trying to ramp up your projects there...
Forster is around 3 hours ( ? 2 1/2 ) from Sydney and did not miss out on the recent boom. We were there just before the boom hit as were about to start our investing and go up to Sand bar ( 30 mins south ) every so often. Prices on standard houses probably tripled , though from what I've seen are coming back.
Forster is a major regional centre with all of the facilities that come with that .
Harrington Waters is a project retirement hamlet with about five shops.
2 Marina's ???? From what I remember there's a limit of berths in the development to about 20 berths . I'd love to know where you get the two marina bit from. Maybe two arms of berths in the small marina and in order to get that , the developers had to create a public walk way around the development.
No comparisons with Hunter Valley and Harrington waters. Hunter Valley is an established weekend retreat for Syndey with a travel time of around two hours which is very dooable. The trip to harrington is not somethig that brings it into the weekender realm for the majority of people.
See Change
Harrington Waters...........don't know whether there was any truth in it, but I'd once heard that the voice behind the commercials was financially involved with the developement.
Re Forster-Tuncurry...........SC is correct, it is the major centre for the Great Lakes region and yes, prices have "settled" somewhat, although it would appear that rental costs may have increased a bit over the last year or so and don't be mistaken, while the two towns have become a kind of retirement area, there is a large, active, "younger" population which manages to survive the seasonal aspects of the area.
Unfortunately, the innocent "charm" the area once had, started to disappear in the early '70s and these days both the innocence and charm are just distant memories.
Re Forster-Tuncurry...........SC is correct, it is the major centre for the Great Lakes region and yes, prices have "settled" somewhat, although it would appear that rental costs may have increased a bit over the last year or so and don't be mistaken, while the two towns have become a kind of retirement area, there is a large, active, "younger" population which manages to survive the seasonal aspects of the area.
Unfortunately, the innocent "charm" the area once had, started to disappear in the early '70s and these days both the innocence and charm are just distant memories.
hi see change.
just a couple of things in red
Harrington waters is probably over four hours away from Sydney. Harrington is not on the main road it's on a small local road that services two small communities this is right but since they have the new highway its been widened to allow for the extra traffic . The road that Forster is on ( the Lakes way ) is a much bigger road and services the whole part of it's coast no that not the case the new highway cuts this completely out the highway is a 3 lane both ways and has been designed to cut out foster I was up there about 2 months ago.
I actually don't mind the feel of Harrington waters ( apart from the fact it's not really near anywhere else ) thats the idea as it is aimed at retirees not weeekenders, but gross , please don't let the truth get in the way of you trying to ramp up your projects there...harrington waters is a roche groups project not mine john laws promotes it everytime you turn on the radio and he doesn't need my help he has 6 site as far as I know in there and I only have a couple of duplexes in there but if you are looking at a place that will have growth these are the type of places to look at
Forster is around 3 hours ( ? 2 1/2 ) from Sydney and did not miss out on the recent boom. We were there just before the boom hit as were about to start our investing and go up to Sand bar ( 30 mins south ) every so often. Prices on standard houses probably tripled , though from what I've seen are coming back.
Forster is a major regional centre with all of the facilities that come with that .
Harrington Waters is a project retirement hamlet with about five shops.
2 Marina's ???? From what I remember there's a limit of berths in the development to about 20 berths as far as I know its 40 in one and the other is being dredge and is yet to be organised with the number one is opposite the pub and the other is at the enterence to the development. I'd love to know where you get the two marina bit from next time there have a look or go to new vision.com or look up harrington waters nsw and you will see the berths and whats in there. Maybe two arms of berths in the small marina and in order to get that , the developers had to create a public walk way around the development no the marina is off the main walk way and the other yet to be done will be from the resorts main walk way from what I can see.
No comparisons with Hunter Valley and Harrington waters not sure how you say this as I have met and had a chat with bill roche the owner of the roche group and all his site this one hunter valley and the one at sovereign island are all designed on the same theme and they are going to his plan not mine and he seems to think tha harrington will be just as successfull and he has sold the land site so he doesn't get any more money from the project the developers do but he seems to think that its to his idea so maybe you have abetter understanding of the hunter valley gardens then bill does and if this is the case maybe you are right. Hunter Valley is an established weekend retreat for Syndey with a travel time of around two hours which is very dooable maybe peoples idea of the hunter valley have been deminished by tie but before the roche group and a couple of high profile restauranteurs went there and but in the developments of living on the vineyards the hunter valley was dying and a couple of large wine companies left and the land was sold to developers at a very cheap cost and the only reason that its is the success as it is is because of the likes of the roche group that has turned around the areas income and brought in high cash flow retirees I have nothing to do with the roche group and have no money with them but you do need to put credit where credit is due . The trip to harrington is not somethig that brings it into the weekender realm for the majority of people its not ment to
the area is designed and has been designed to bring to retirees
that want a village with everything they want and close to the sea
and is it working from my view
yes it is
I don't need to talk up my projects
I look at sales
and along this coast you show me a place that has sold 7 townhouses lowest 750k highest 950k for a 3br townhouse ( and these are sales)
and they are not mine figures these are sales so someone or ones likes this development to the tune of 5.2 mil.
just to clarify that I don't bend the truth so before asking
but gross , please don't let the truth get in the way of you trying to ramp up your projects there
just make sure that the area you are talking about has not changed and your understand is alittle distaughted mine isn't as I have people there and am looing at securing another 5 sites with a different developer that already has the land and has from the start.
truth is only relivant to your understand at the time.
just a couple of things in red
Harrington waters is probably over four hours away from Sydney. Harrington is not on the main road it's on a small local road that services two small communities this is right but since they have the new highway its been widened to allow for the extra traffic . The road that Forster is on ( the Lakes way ) is a much bigger road and services the whole part of it's coast no that not the case the new highway cuts this completely out the highway is a 3 lane both ways and has been designed to cut out foster I was up there about 2 months ago.
I actually don't mind the feel of Harrington waters ( apart from the fact it's not really near anywhere else ) thats the idea as it is aimed at retirees not weeekenders, but gross , please don't let the truth get in the way of you trying to ramp up your projects there...harrington waters is a roche groups project not mine john laws promotes it everytime you turn on the radio and he doesn't need my help he has 6 site as far as I know in there and I only have a couple of duplexes in there but if you are looking at a place that will have growth these are the type of places to look at
Forster is around 3 hours ( ? 2 1/2 ) from Sydney and did not miss out on the recent boom. We were there just before the boom hit as were about to start our investing and go up to Sand bar ( 30 mins south ) every so often. Prices on standard houses probably tripled , though from what I've seen are coming back.
Forster is a major regional centre with all of the facilities that come with that .
Harrington Waters is a project retirement hamlet with about five shops.
2 Marina's ???? From what I remember there's a limit of berths in the development to about 20 berths as far as I know its 40 in one and the other is being dredge and is yet to be organised with the number one is opposite the pub and the other is at the enterence to the development. I'd love to know where you get the two marina bit from next time there have a look or go to new vision.com or look up harrington waters nsw and you will see the berths and whats in there. Maybe two arms of berths in the small marina and in order to get that , the developers had to create a public walk way around the development no the marina is off the main walk way and the other yet to be done will be from the resorts main walk way from what I can see.
No comparisons with Hunter Valley and Harrington waters not sure how you say this as I have met and had a chat with bill roche the owner of the roche group and all his site this one hunter valley and the one at sovereign island are all designed on the same theme and they are going to his plan not mine and he seems to think tha harrington will be just as successfull and he has sold the land site so he doesn't get any more money from the project the developers do but he seems to think that its to his idea so maybe you have abetter understanding of the hunter valley gardens then bill does and if this is the case maybe you are right. Hunter Valley is an established weekend retreat for Syndey with a travel time of around two hours which is very dooable maybe peoples idea of the hunter valley have been deminished by tie but before the roche group and a couple of high profile restauranteurs went there and but in the developments of living on the vineyards the hunter valley was dying and a couple of large wine companies left and the land was sold to developers at a very cheap cost and the only reason that its is the success as it is is because of the likes of the roche group that has turned around the areas income and brought in high cash flow retirees I have nothing to do with the roche group and have no money with them but you do need to put credit where credit is due . The trip to harrington is not somethig that brings it into the weekender realm for the majority of people its not ment to
the area is designed and has been designed to bring to retirees
that want a village with everything they want and close to the sea
and is it working from my view
yes it is
I don't need to talk up my projects
I look at sales
and along this coast you show me a place that has sold 7 townhouses lowest 750k highest 950k for a 3br townhouse ( and these are sales)
and they are not mine figures these are sales so someone or ones likes this development to the tune of 5.2 mil.
just to clarify that I don't bend the truth so before asking
but gross , please don't let the truth get in the way of you trying to ramp up your projects there
just make sure that the area you are talking about has not changed and your understand is alittle distaughted mine isn't as I have people there and am looing at securing another 5 sites with a different developer that already has the land and has from the start.
truth is only relivant to your understand at the time.
Once they finish that Karuah section, Forster should only be 3 hours from Wahroonga and Harrington 1/2 hr more, but add another hour if coming from the Shire or Double Bay. Heard Harrington has slowed down a bit in the last year. Still building that golf course though from what I've been told. A few 2nd hand stock coming back onto market. Maybe baby boomers think they're are not quite ready to be left to pasture yet. Or perhaps the grandkids are not making the effort to go see them so they are citychanging back...
Been shown a couple of well designed 3x2x2 duplex in Forster for $720-$740k DA'd land plus build, keeping a little developer's margin. Common wall at garage only. Couple streets back from One Mile and other walking distance to new Stocklands. Problem is would only rent for roughly $260 p/wk. Probably couldn't replicate the build cost 5 years down the track, possibly also wrong time to do OTP. Totally a retirees market hence close to infrastructure is important. Flat block, easy access to shops, beaches, walks. What would you do?
Been shown a couple of well designed 3x2x2 duplex in Forster for $720-$740k DA'd land plus build, keeping a little developer's margin. Common wall at garage only. Couple streets back from One Mile and other walking distance to new Stocklands. Problem is would only rent for roughly $260 p/wk. Probably couldn't replicate the build cost 5 years down the track, possibly also wrong time to do OTP. Totally a retirees market hence close to infrastructure is important. Flat block, easy access to shops, beaches, walks. What would you do?
Forster yes.
Harrington waters will have a GP ( if not now, at some stage soon ) but nearest hospital is Taree.
See Change
Harrington waters will have a GP ( if not now, at some stage soon ) but nearest hospital is Taree.
See Change
Forster would have some doctors. Port Macquarie is a real retirees place. It's bigger - I think 60,000+. There would be a quite a few doctors there I imagine. And there is a hospital. A dead giveaway for retirement towns is when you see those shops selling motorised carts, walking frames etc.
hi depreciator
the new golf subdivision thats comming on line
now have cart access and all the commercial building have cart access
not sure about the walking frames access
but the grey power or grey nomads as I like to call them have the disposable income and unlike the youth that spend money on any thing
these are the people that are spending on things they want.
and are a very large buying group.
and the main area of spending is in the golf resorts near water.
but all to there own
the new golf subdivision thats comming on line
now have cart access and all the commercial building have cart access
not sure about the walking frames access
but the grey power or grey nomads as I like to call them have the disposable income and unlike the youth that spend money on any thing
these are the people that are spending on things they want.
and are a very large buying group.
and the main area of spending is in the golf resorts near water.
but all to there own
do on site caravans count? bit of a drain on the cashflow but great to have for a get away whenever you need one - has not been used much at all lately - will be back in oz over christmas so hope to get there.
Not sure of the current state of the market in forster but have watched the place grow alot over the years - huge retiree population but last time I was there quite alot of ranch style family homes where being built - not sure if the owners would be permanent residents or just holiday home owners.
cheers
Not sure of the current state of the market in forster but have watched the place grow alot over the years - huge retiree population but last time I was there quite alot of ranch style family homes where being built - not sure if the owners would be permanent residents or just holiday home owners.
cheers
