kempsey
- Thread starter Nathan
- Start date
Hi GRFOOS
What do you mean by lower socio-economic problems?
I am looking at Kempsey as an investment option...but few people have knowledge of the area. So if you have any insight I would appreciate it.
What is it like for rentals? I appreciate that there is a high unemployment rate due to lack of industry but is the local government doing something about it?
Thanks
Sash
What do you mean by lower socio-economic problems?
I am looking at Kempsey as an investment option...but few people have knowledge of the area. So if you have any insight I would appreciate it.
What is it like for rentals? I appreciate that there is a high unemployment rate due to lack of industry but is the local government doing something about it?
Thanks
Sash
Info from when we looked a while ago
Low socio economic (very cheap to live, very blue collar but no real industry nearby - local dairy plant also closed so not sure where the milk goes now)
A very very high portion of loans in the area are held by a single lender (more through good servicing of clients than anything else)
Possibly an area for future highway bypass? Just due to the single lane through the middle of town and the nsw slowly eradicating all of these with bypasses- not from any info I have.
From what we saw Frederickton is the better area.
Not somewhere I'd choose to live but that doesn't matter when investing.
Low socio economic (very cheap to live, very blue collar but no real industry nearby - local dairy plant also closed so not sure where the milk goes now)
A very very high portion of loans in the area are held by a single lender (more through good servicing of clients than anything else)
Possibly an area for future highway bypass? Just due to the single lane through the middle of town and the nsw slowly eradicating all of these with bypasses- not from any info I have.
From what we saw Frederickton is the better area.
Not somewhere I'd choose to live but that doesn't matter when investing.
All of the above.
Most people who work in Kempsey live at one of the beach side villages eg Crescent Head, Hat Head, South West Rocks, Stuarts Point some even travel from Port Macquarie (40mins each way on a not to good piece of the Hwy).
But In saying that there are very few places to rent at the moment as the jail has just started to fill up and relatives are coming to town to be nearby.
There is a bypass planned but I think that is still probably 10yrs away, still in the planning and design stage.
IMO would look at one of the villages or one of the larger towns along the coast.
yes you will get good returns but you will have to look very closley in which part of town the property is located.
Most people who work in Kempsey live at one of the beach side villages eg Crescent Head, Hat Head, South West Rocks, Stuarts Point some even travel from Port Macquarie (40mins each way on a not to good piece of the Hwy).
But In saying that there are very few places to rent at the moment as the jail has just started to fill up and relatives are coming to town to be nearby.
There is a bypass planned but I think that is still probably 10yrs away, still in the planning and design stage.
IMO would look at one of the villages or one of the larger towns along the coast.
yes you will get good returns but you will have to look very closley in which part of town the property is located.
FYI - propertyvalue.com reports Kempsey, Post Code 2440, in the NSW Top 100 List. It has grown 128% in the last 5 years, current median price being 210,000 and next 12 month predicted growth of 25% +
Cheers,
GC
Cheers,
GC
I went and had a look at a property in kempsey about 12months ago..
I think it was $110,000 @ $175 a week rent.
Anyway, got there and found out it was in the houseing commission area, got to the house and there was about 10 aboriginal kids standing on the front lawn. Another 6 or so running around inside the house.
There was one room we tryed to go into and one kid jumped in front of us and told us we couldnt go in there.. So who knows what was going on in that room, I have some idea tho.
But yeah, for the price your saying Nathan thats the kinda place it will be..
I think it was $110,000 @ $175 a week rent.
Anyway, got there and found out it was in the houseing commission area, got to the house and there was about 10 aboriginal kids standing on the front lawn. Another 6 or so running around inside the house.
There was one room we tryed to go into and one kid jumped in front of us and told us we couldnt go in there.. So who knows what was going on in that room, I have some idea tho.
But yeah, for the price your saying Nathan thats the kinda place it will be..
Noted all previous comments. In brief -
play safe and stick with coast villages in Kempsey Shire, Nambucca, Bellingen Shires. They still have some bargain buys if you take the drive. Some villages have cheap small beachside homes or land for sale nearby within 5mins of beach.- It is possible to set up around $300,000 land and little house.
play safe and stick with coast villages in Kempsey Shire, Nambucca, Bellingen Shires. They still have some bargain buys if you take the drive. Some villages have cheap small beachside homes or land for sale nearby within 5mins of beach.- It is possible to set up around $300,000 land and little house.
