Jervis Bay for IP's

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From: Ron Redshaw


Hi everyone, new to the forum although have
been an avid reader for about 6 weeks.
Jervis Bay NSW 260 k's south of Sydney, Wife
& I purchased a 3 bed brick/tile home in
Vincentia. We have been taking holidays in the area for past 12 yrs. Saw this great place come up 50 mtrs from beach and so we bought it last april for $186K. It will most likely be our retirement home.We reside in Sydney.
We are now ready to go again for another but unsure about another one in Jervis Bay or are we better off in Brisbane ?

 

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Reply: 1
From: Gee Cee Cee


Hi Ya

I know the Vincentia, Huskison area fairly well.

During the last down turn you could not give places away. Everyone that had bought during the last boom as holiday houses had decided to sell.

Prices I believe have now come up somewhat.
However most of the area is holiday homes and retired people. In winter you could fire a shot gun and not hit anyone.
There is limited industry in the area except for defence forces.

I would be looking else where.

But don't just rush into any part of Brisbane.

Just my opinion

Gee Cee

 

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Reply: 1.1
From: Donna Larcos


SSSSHHHHHH!!!! Don't tell any more
people about it. We too fell in love with
Vincentia about fifteen years ago on
holiday as well. We were about to buy a
block of land there for $26,000 in 1987. I
was just about to pull the money out of
the stockmarket to pay for it....but it was
Friday and I was busy at work and...... you
guessed it, Monday was BLACK
MONDAY, 1987. We lost $28,000
overnight. Could have paid cash.
Went back a year later and bought
another better block for $28,000 with a
loan and paid it off over seven years. By
then it was worth $60,000. To our deep
regret we had to sell it to finance
extensions to our house for the children
and have been trying to get back ever
since. Nearly bought a beautiful block 2
years ago for $80000 but decided to
invest in Sydney instead. Did well in
Sydney but as it turns out would have
done just as well in Vincentia - block now
worth $140,000 but gone of course! Now
I think we will just buy anything we can
rent as a placemarker with a P & I loan
due to the lower rate of capital growth but
this is for our retirement too. Jervis Bay is
funny. The prices will stagnate often for
seven to eight years and can then double
almost overnight. I don't know that I
would buy investment properties there
either. You won't have any trouble with
permanent rental but the return is not
great and the capital growth
unpredictable. As Gee Cee says, you
could shoot cannons down the streets in
winter and have the beach all to
yourself....aaah!