Lake Munmorah NSW

[Starofdavid]

It's going to be a GOLDMINE !!I
have just been talking to my boss who told me he has just bought 2 more houses in Lake Munmorah which is situated up on the Northern part of the NSW Central Coast.
He works here in Sydney and travels up and down everyday to Lake Munmorah, says it takes him about 1.5 / 2 hours a day.

They have lake ,beach shopping centre and 1 hour drive to Hornsby.

Anyway he tells me that he knows they are building a Westfield up at Lake Munmorah and the area is way undervalued.AND a Railway Station .
Looking at prices most houses are still under 300k
Prices are going to skyrocket when this Westfields goes up I'm thinking and if families that can't afford to live in Sydney want to move up there it's only 1 hour from Hornsby and 90 minutes to Sydney City.

He bought a house for 250k and rents it for $300 a week , he says he will sell for over 300k in 2 years time.
I will head up there next weekend to check it out.. It's close to Tuggerah ,Budgewoi,toukley
I will knock on doors to talk to the residents there and ask if the area is going up in price.




Anyone investing in Lake Munmorah ?

 

[Brian84]

My in laws live 5mins from there in summerland point. I am up here at the moment. It is a great area and the local club is also great with friendly people there.

 

[Brian84]

How did he find out about westfields

 

[datto]

I used to go fiishing up there.

 

[Brian84]

Have you looked at prices recently. There isn't much under $350k if anything.

 

[Brian84]

It is great fishing up here datto, we have a place on Lake Macquarie in mannering park, there is great flat head around.

 

[Starofdavid]

There's still some 2 bedroom houses for under 300k I saw on real estate .com
But have to be careful to stay away from village housing or whatever there called.

My boss saw some houses at 250/260
and he says in 2 years they would be over 300 but they are 2 bedroom fibro

The Westfields is on the highway will be approved soon because his brother is working on it and a McDonald's at lake Munmorah will be built

Railway station are going up at blue haven.
Warnervale railway station is being expanded and is apparently chock a block on weekday mornings... omg ..90 minute train trip to Sydney City everyday I would go mad !lol

I think these areas are going to definitely go up in the next 3 years .. If a house is 250k now and haven't hone up much in the last few years then with all these people moving there to work in Sydney then can someone doubt me?

 

[datto]

Not only fishing. But a fella we knew used to swim in the warm water near the power station. He swore it was good for his old football injuries.

 

[Brian84]

All the places you are thinking of are over 50s or retirement villages.

 

[Brian84]

I wouldn't be swimming in there now. There is a few decent sharks lurking around lately. Have a look at the video on YouTube

 

[Starofdavid]

Tell me your thoughts please guys.. Is this area of Lake Munmorah going to rise in price over the next 3 years?

 

[FlyingFox]

Source for the Westfields info? I live here and haven't heard a thing about that. Sorry to disappoint you.
The big Woolworths only recently went up on the Pacific Hwy.

Bit of a strange thread. There's nothing particuarly special or unique about Lake Munmorah compared to other surrounding suburbs. There's no railway in the vicinity of the suburb. You have to go to Wyong or Wyee. Your boss might not mind the 2 hour trip each way down the freeway everyday but for most people its a killer and not something that people can handle doing long term.

 

[datto]

Hey brian when a shark bites a leg off, a dicky knee problem is not a problem anymore, unless the shark bites the wrong leg off lol.

 

[Brian84]

I have to agree with the fox on this one. I just asked the in laws and they haven't heard anything at all about the westfields and with the train station they said it wouldn't go through blue haven, if anything it will be around warnervale area. I think you would have to do some research instead of taking someone's word for it when making a big decision like buying a house. I just done a quick search regarding the westfields and I didn't come up with anything. Usually when something big like that is going to happen residents would be informed or it would be in the local paper at least.

 

[Brian84]

True words datto. I would hate to lose the name tripod lol.

 

[Andy]

Hi Guys...

Hello there...Andys wife here...we bought investment property in Lake Munmorah at the peak about 10 years ago..have been thinking on and off about selling over last year or two but in the last 3-6 months prices have risen substantially (rentals & sales).if you go to the SOLD section on realestate.com.au you will see what I mean..the new Catholic High School St Bridget's is now entering its 3rd year..power station demolition has been given the OK..also Woolworths bought the next two lots on Pacific Hwy have heard a million rumours of what they are building there but something sure has happened since xmas...

 

[Starofdavid]

I think those houses and NOT the ones in the resident villages that are in the high 200's will go over 300 before 2 years is up.
There s some houses near the Lake that are 260k and 280k .
I looked at this Lake Munmorah and spoke with Gavin my boss and McDonald's is opening somewhere there and a cinema application.

But I will look next weekend.
I mean the prices would have to go up in that area considering it seems they have been stagnant for the last few years.,I mean they couldn't go down.

Wyee and Warnervale railway stations are 10 to 15 minutes drive away so I think these areas have potential.

 

[Brian84]

Where abouts are you looking for the properties that aren't in the village for 280k. What did your boss say about the westfields.

They might build a McDonald's next door to the new woolworths

 

[Andy]

Actually I have heard of the cinema application but not Westfields..I'm praying for Westfield over a cinema..

 

[Brian84]

The land next to the new woolworths is going to be a masters hardware.