Lake Munmorah NSW
- Thread starter Starofdavid
- Start date
Have to say I have not heard any of this and would be surprised if any of these plans
would even be considered in the next 10 years , maybe a Macca's but
that's about all.
No one was interested in building a cinema complex in the northern shire
so WSC built one at Lake Haven and it has it only recently been opened
and leased out.(rate payers money building a cinema complex made a lot
of rate payers unhappy).
There was a government paper some time ago about developing the north
of the shire but that would be years away with council going through another
LEP review and changing of zonings.
All plans at the moment surround developing Warnervale town centre which
the buldozers moved in a few weeks ago.
For those not familiar with the area Lake Munmorah to Warnervale is apprx 10km.
The closest development would be Chatherine Hill bay but thats only limited to
500 hundred blocks due to the limits of national park.
I think Gwandalan has been approved for more but again will be a few years away.
http://rosegroup.com.au/
Lake Munmorah power station about to commence demolition and Vales
only has a lifespan of another 15 and the way its losing money because of
solar (their words) I believe it will be shut down possibly 5 years.
If it does close down , my pick to buy now would be as close as possible to Vales.
would even be considered in the next 10 years , maybe a Macca's but
that's about all.
No one was interested in building a cinema complex in the northern shire
so WSC built one at Lake Haven and it has it only recently been opened
and leased out.(rate payers money building a cinema complex made a lot
of rate payers unhappy).
There was a government paper some time ago about developing the north
of the shire but that would be years away with council going through another
LEP review and changing of zonings.
All plans at the moment surround developing Warnervale town centre which
the buldozers moved in a few weeks ago.
For those not familiar with the area Lake Munmorah to Warnervale is apprx 10km.
The closest development would be Chatherine Hill bay but thats only limited to
500 hundred blocks due to the limits of national park.
I think Gwandalan has been approved for more but again will be a few years away.
http://rosegroup.com.au/
Lake Munmorah power station about to commence demolition and Vales
only has a lifespan of another 15 and the way its losing money because of
solar (their words) I believe it will be shut down possibly 5 years.
If it does close down , my pick to buy now would be as close as possible to Vales.
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Here is an older 2008 strategic plan for North Wyong shire.
http://www.planning.nsw.gov.au/Portals/0/North_Wyong_Shire_Structure_Plan.pdf
http://www.planning.nsw.gov.au/Portals/0/North_Wyong_Shire_Structure_Plan.pdf
There is a new one from Wyong Council dated December 2014 called " Transforming the NSW Central Coast". sorry unble to post but refer to to section on MASTERPLANNING OF NEW INFRASTRUCTURE IN LAKE MUNMORAH..page 20 I think..also 20 k's from L.M. To Warnervale so good distance..very interesting read..
I will be up there tomorrow actually, I took a day off work so will drive up and check it out but I'm still hearing good things about this areas or surrounds.
This area has apparently stagnated for a long time but now will boom !!
Well that's what the real estate agent said to me at When I rang Lake Munmorah Real Estate lol
Boom!!! , he shouts ... Omg mate what have u been smoking ?
To me I will look at it for capital gain,rental returns don't seem much but I think my boss who lives up there and travels to Sydney everyday says is right that it will only go up in price over the next few years.
Now you have people of Indian and Asian moving up there because it's cheaper and 1 hour from Sydney so I think it should go up in price.Surely?
The local railway station is 10 minutes drive to Wyee.
The Lake of Lake Munmorah is walking distance from nearly every home.
The beach is a nudist beach and drive of 10 minutes into a National Park.
There are houses NOT in a village advertised for under 290k still that are right near the big lake.
I will check it out tomorrow as long as they are under 300k and in reasonable condition.
This area has apparently stagnated for a long time but now will boom !!
Well that's what the real estate agent said to me at When I rang Lake Munmorah Real Estate lol
Boom!!! , he shouts ... Omg mate what have u been smoking ?
To me I will look at it for capital gain,rental returns don't seem much but I think my boss who lives up there and travels to Sydney everyday says is right that it will only go up in price over the next few years.
Now you have people of Indian and Asian moving up there because it's cheaper and 1 hour from Sydney so I think it should go up in price.Surely?
The local railway station is 10 minutes drive to Wyee.
The Lake of Lake Munmorah is walking distance from nearly every home.
The beach is a nudist beach and drive of 10 minutes into a National Park.
There are houses NOT in a village advertised for under 290k still that are right near the big lake.
I will check it out tomorrow as long as they are under 300k and in reasonable condition.
Andy that Masterplan is something council put out which is their wish list.
It requires funding by state government, I think they are also asking
for the planning stage to also be funded by government.
I've seen very little under 300k that isn't a townhouse or in a retirement or relocatable home village (and there's plenty of those around).
Hello Star of David
We have recently bought two properties on the other side ... at Lake Macquarie ....Morisset exit of the M1...and absolutely love it there. Yesterday, was a magic day on the water !! Hubby even caught some whiting and mullet.
The prices have definitely moved over the last year ...talk to any of the rea in the area and they will confirm this.
For around the $350 - $400 mark, you can get a beautiful 4 bed house on a quarter acre block, with sweeping views of the lake, 10 minutes from Morisset station. I know this as a friend's offer got accepted yesterday. Their plan is to convert it to dual living and they will get over the 7% return.
While we were renovating our property, hubby took the train in from Morisset to North Sydney a few times over the Christmas break and the trains were crowded. We checked out Lake Munmorah but thought Lake Macq offers better value. Summerland Point is a no-no for us.
Let us know how you go tomorrow.
We have recently bought two properties on the other side ... at Lake Macquarie ....Morisset exit of the M1...and absolutely love it there. Yesterday, was a magic day on the water !! Hubby even caught some whiting and mullet.
The prices have definitely moved over the last year ...talk to any of the rea in the area and they will confirm this.
For around the $350 - $400 mark, you can get a beautiful 4 bed house on a quarter acre block, with sweeping views of the lake, 10 minutes from Morisset station. I know this as a friend's offer got accepted yesterday. Their plan is to convert it to dual living and they will get over the 7% return.
While we were renovating our property, hubby took the train in from Morisset to North Sydney a few times over the Christmas break and the trains were crowded. We checked out Lake Munmorah but thought Lake Macq offers better value. Summerland Point is a no-no for us.
Let us know how you go tomorrow.
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Could be the gated estate on corner of Pacific Hwy and Lizzy Bay Drive,
These are 3 bedder brick/tile on small blocks,has been a few in there under
300 over the last 12 months but anything else will be an old small clad place ,
a few older homes have sold over Summerland point way recently under 300
but they were requiring some major reno's.
I'd go Lake Macquarie side over Lake Munmorah.
Lake Munmorah is very shallow just like the Tuggerah Lakes system , you will
not see a yacht on either of the two lakes unlike Lake Macquarie.
Hey Star of David any luck with your visit?
QUOTE=Starofdavid;1296583]I will be up there tomorrow actually, I took a day off work so will drive up and check it out but I'm still hearing good things about this areas or surrounds.
This area has apparently stagnated for a long time but now will boom !!
Well that's what the real estate agent said to me at When I rang Lake Munmorah Real Estate lol
Boom!!! , he shouts ... Omg mate what have u been smoking ?
To me I will look at it for capital gain,rental returns don't seem much but I think my boss who lives up there and travels to Sydney everyday says is right that it will only go up in price over the next few years.
Now you have people of Indian and Asian moving up there because it's cheaper and 1 hour from Sydney so I think it should go up in price.Surely?
The local railway station is 10 minutes drive to Wyee.
The Lake of Lake Munmorah is walking distance from nearly every home.
The beach is a nudist beach and drive of 10 minutes into a National Park.
There are houses NOT in a village advertised for under 290k still that are right near the big lake.
I will check it out tomorrow as long as they are under 300k and in reasonable condition.[/QUOTE]
QUOTE=Starofdavid;1296583]I will be up there tomorrow actually, I took a day off work so will drive up and check it out but I'm still hearing good things about this areas or surrounds.
This area has apparently stagnated for a long time but now will boom !!
Well that's what the real estate agent said to me at When I rang Lake Munmorah Real Estate lol
Boom!!! , he shouts ... Omg mate what have u been smoking ?
To me I will look at it for capital gain,rental returns don't seem much but I think my boss who lives up there and travels to Sydney everyday says is right that it will only go up in price over the next few years.
Now you have people of Indian and Asian moving up there because it's cheaper and 1 hour from Sydney so I think it should go up in price.Surely?
The local railway station is 10 minutes drive to Wyee.
The Lake of Lake Munmorah is walking distance from nearly every home.
The beach is a nudist beach and drive of 10 minutes into a National Park.
There are houses NOT in a village advertised for under 290k still that are right near the big lake.
I will check it out tomorrow as long as they are under 300k and in reasonable condition.[/QUOTE]
Yes drove up there today actually, took me 2 hours because of so much traffic but it's school holidays I guess.
I really think this area is the next area to go up in price and I'm excited.
Because when I see families of Indian and Asian etc I know there all moving there because Sydney is overpriced.
Lake Munmorah has a shopping centre on the highway and I spoke to some shopkeepers who told me they are expanding it although I don't think there's anything concrete about expanding the shopping centre but I think obviously they will as population grows And it will grow in this area I believe.
Yes again someone told me Maccas are very interested in putting a place on the highway and u think they will.
Now I found the Real estate agents lazy, not at all like Sydney agents.
Yes they do have several houses under 300k that rent for over 250-300 week.
There are local real estates here.
I truly believe this area will be a growth area because families seem to be moving up from Sydney.
Now don't ask me how they commute the 90 minutes a day to Sydney I would go crazy but they seem to do it.
Now I found out the local MP is the opposition. Minister for the Central Coast so a lot of funding is going into it.
This area is the Northern part of the coast and the least expensive part , it's seems the LAST part to boom .
They also have local shops at Lake Munmorah a convenience store b
Hairdresser newsagent etc and then the bigger shopping centre down the road.
Anyway I drove around the streets and looked in the real estate window , there's a lot of houses with good prices but seem now to have sold stickers on them .
I noticed a lot of Asian families now in this area and even all the local shops seem to be owned by newer immigrants.
If you all have time check it out .i will meet a real estate agent here next week, yes I know they are not overkeen for business it seems , had to make appointment to see him, you would think if they re keen to sell they would meet immediately.
I really think this area is the next area to go up in price and I'm excited.
Because when I see families of Indian and Asian etc I know there all moving there because Sydney is overpriced.
Lake Munmorah has a shopping centre on the highway and I spoke to some shopkeepers who told me they are expanding it although I don't think there's anything concrete about expanding the shopping centre but I think obviously they will as population grows And it will grow in this area I believe.
Yes again someone told me Maccas are very interested in putting a place on the highway and u think they will.
Now I found the Real estate agents lazy, not at all like Sydney agents.
Yes they do have several houses under 300k that rent for over 250-300 week.
There are local real estates here.
I truly believe this area will be a growth area because families seem to be moving up from Sydney.
Now don't ask me how they commute the 90 minutes a day to Sydney I would go crazy but they seem to do it.
Now I found out the local MP is the opposition. Minister for the Central Coast so a lot of funding is going into it.
This area is the Northern part of the coast and the least expensive part , it's seems the LAST part to boom .
They also have local shops at Lake Munmorah a convenience store b
Hairdresser newsagent etc and then the bigger shopping centre down the road.
Anyway I drove around the streets and looked in the real estate window , there's a lot of houses with good prices but seem now to have sold stickers on them .
I noticed a lot of Asian families now in this area and even all the local shops seem to be owned by newer immigrants.
If you all have time check it out .i will meet a real estate agent here next week, yes I know they are not overkeen for business it seems , had to make appointment to see him, you would think if they re keen to sell they would meet immediately.
I've looked at most of the Central Coast over the years .
Most of it is quite nice , though there are some lower SES such as San Remo
I've never looked closely at lake munmorah but we have checked out budgewoi and buff point quit seriously in thuarie past and know Lake Macquarie quit well .
If I could get close to cash flow neutral in lake munmorah I'd think about it , but it does appear to be the poorer cousin to Tuggerah and Lake Macquarie which are more boating macca's , esp Lake Macquarie .
We looked at Toronto around two years ago and at that stage the market was taking off with stock decreasing and all the cheapies being snapped up .
Prices in lake munmorah have gone up from 250 to around 340' over the last 5-6 years . Personally I'd be interested in somewhere which is earlier on in its cycle rather than somewhere that has gone up 35-40 % already but assuming the market will do the average expectation of doubling there's still some room to go , but if your thinking of selling in the next few years , once you take out stamp duty and agents fees your profit will start getting eaten away .
One thing to be aware of is that when the market stops on the central coast , it stops . Both my parents and some very close friends have been caught out wanting to sell and having to lower their expectations considerably in order to get a sale .
So don't buy there with a plan of trying to sell at the peak . Either buy with the intention of holding loooong term , or once you have made a good return and getting out earlier than later .
We've bought a weekender up on the north side of port Stephens . No expectations of selling . Will leave it to the kids . The people we bought off had it on the market for four years and their initial asking price had dropped to almost half by the time we bought .
That was around 2 1/2 years ago . Prices haven't started moving up as of yet , but much less on the market
Cliff
Most of it is quite nice , though there are some lower SES such as San Remo
I've never looked closely at lake munmorah but we have checked out budgewoi and buff point quit seriously in thuarie past and know Lake Macquarie quit well .
If I could get close to cash flow neutral in lake munmorah I'd think about it , but it does appear to be the poorer cousin to Tuggerah and Lake Macquarie which are more boating macca's , esp Lake Macquarie .
We looked at Toronto around two years ago and at that stage the market was taking off with stock decreasing and all the cheapies being snapped up .
Prices in lake munmorah have gone up from 250 to around 340' over the last 5-6 years . Personally I'd be interested in somewhere which is earlier on in its cycle rather than somewhere that has gone up 35-40 % already but assuming the market will do the average expectation of doubling there's still some room to go , but if your thinking of selling in the next few years , once you take out stamp duty and agents fees your profit will start getting eaten away .
One thing to be aware of is that when the market stops on the central coast , it stops . Both my parents and some very close friends have been caught out wanting to sell and having to lower their expectations considerably in order to get a sale .
So don't buy there with a plan of trying to sell at the peak . Either buy with the intention of holding loooong term , or once you have made a good return and getting out earlier than later .
We've bought a weekender up on the north side of port Stephens . No expectations of selling . Will leave it to the kids . The people we bought off had it on the market for four years and their initial asking price had dropped to almost half by the time we bought .
That was around 2 1/2 years ago . Prices haven't started moving up as of yet , but much less on the market
Cliff
Hi all, stumbled across this after seeing the general central coast thread. Can confirm there has already been a material shift in the LM market in the past 12 months with the median price moving from 300 and below into the mid 300's. Time on market has shortened considerably also.
I have vested interest, being related to the owner of the local REA and also hold a property purchased late 2010 before WW went up.
Absolutely agree with See Change in that the market just does not move when soft, our place did not move a jot (other than some value add) for 3 years but has seen 15-20% in the past 12-18 months as the ripple has spread and the effect of the new shopping centre washes through.
Given the low relative price point and the possibility additional infrastructure planned, could be further strong gains. I am certainly supportive!
Interested to see what conclusions you come to SoD.
Cheers,
blw
I have vested interest, being related to the owner of the local REA and also hold a property purchased late 2010 before WW went up.
Absolutely agree with See Change in that the market just does not move when soft, our place did not move a jot (other than some value add) for 3 years but has seen 15-20% in the past 12-18 months as the ripple has spread and the effect of the new shopping centre washes through.
Given the low relative price point and the possibility additional infrastructure planned, could be further strong gains. I am certainly supportive!
Interested to see what conclusions you come to SoD.
Cheers,
blw
Your related to the local Real Estate??
Can you tell them to return my calls?
Do i have to beg up there for a real estate to sell me a house?
Its quite unbelievable no one cares up that way.
Can you tell them to return my calls?
Do i have to beg up there for a real estate to sell me a house?
Its quite unbelievable no one cares up that way.
100% agree. The main impact of this is valuations, heading North from San Remo up they all get nailed down on valuations.
Hi BlW and Star of David
Beginning to take a shine to Lake Munmorah. In fact, was the opening bidder on the Anita Ave auction property last Friday. Went for $340k, we saw value at $320k.
Star of David, kind of agree, the local R&H rep was quite supercilious, seems like a lot of Sydney buyers / baby boomers headed that way. When we first went up that way, early 2014, the agents seemed more inclined to engage - seems like the market has changed in a year
Beginning to take a shine to Lake Munmorah. In fact, was the opening bidder on the Anita Ave auction property last Friday. Went for $340k, we saw value at $320k.
Star of David, kind of agree, the local R&H rep was quite supercilious, seems like a lot of Sydney buyers / baby boomers headed that way. When we first went up that way, early 2014, the agents seemed more inclined to engage - seems like the market has changed in a year
Yes !!! I was up there last week again and for the life of me I cannot get real estate agents interested in selling me a house in Lake Munmorah.
The local RH was the worst, never returned my calls,despite me even going to his office personally.
Seems Lake Munmorah is going up in price and no one wants to bother selling the houses I guess .
I really get of sick of lazy real estate agents , most of these houses are under 300k.
I'm doing my research into this area and please don't be silly to buy into these parks or private streets /estates or whatever they call them.
There is plenty of buying under 300k in residential area, stay away from the private gated community areas .
The local RH was the worst, never returned my calls,despite me even going to his office personally.
Seems Lake Munmorah is going up in price and no one wants to bother selling the houses I guess .
I really get of sick of lazy real estate agents , most of these houses are under 300k.
I'm doing my research into this area and please don't be silly to buy into these parks or private streets /estates or whatever they call them.
There is plenty of buying under 300k in residential area, stay away from the private gated community areas .
I'm sorry about ranging but it really is my pet hate when real estate agents don't return calls up there in Lake Munmorah.
I'm trying to look at buying houses under 289. /260 so I left that message many times and they don't call back.
Even a bloke I called last Wednesday from another real estate in Lake Munmorah actually told me he was at home and was busy right now washing his dishes!!
But... Yes he will call me back.... I'm still waiting !!
I will try to find the owners directly rather than real estate agents.
There's houses there and NOT in gated communities but near the lake selling for 280k and rental return of $300 week.and 1 hour to Hornsby .
I noticed the Asian community seem to be moving there so I really think it could be a investment to buy and hold say 5 years or whatever.
I'm trying to look at buying houses under 289. /260 so I left that message many times and they don't call back.
Even a bloke I called last Wednesday from another real estate in Lake Munmorah actually told me he was at home and was busy right now washing his dishes!!
But... Yes he will call me back.... I'm still waiting !!
I will try to find the owners directly rather than real estate agents.
There's houses there and NOT in gated communities but near the lake selling for 280k and rental return of $300 week.and 1 hour to Hornsby .
I noticed the Asian community seem to be moving there so I really think it could be a investment to buy and hold say 5 years or whatever.
