Nambour - A rough diamond

Hi fellow investors,

Just a very quick email to comment on my opinion of Nambour, Queensland as a good long-term residential property investment.

Infrastructure / Anecdotal Factors:

* Projected population growth for South-East Queensland.

* Apparently very high affordability issues on the sunshine coast.

* Last I looked Nambour was officially the cheapest town on the coast.

* Upgrade to rail line (Also one of the few towns on the coast with a train station).

* Major upgrade to the public hospital about to be completed very soon.

* Quite a few medium-density townhouse developments have been built very recently all around Nambour.

* The Sunshine Coast Regional Council is based in Nambour.

* The council has a 'beautification' plan (already implemented with the redevelopment of the town square) to try and rejuveniate Nambour's poor image.

* Nambour has always been a bit of an 'ugly ducking' from those who know of it. Used to be a lot of drug addicts renting cheap properties close to the public hospital when the methodone program was in place. That program has now closed down and apparently they all hang out for community pharmacists around the Maroochydore area.

* Ancedotelly, Ive met a few people that have either recently moved back to Nambour from the coast or are currently planning on doing so. You get more bang for your buck in Nambour. In my opinion you dont have the same level of issues with youth crime, tourists, traffic, etc that you get in the glitzy coastal towns.

* See Terry Ryder's "worst places to invest" report in which he criticizes the "sunshine coast" (however he does tend to generalise in this report, but what I believe he is referring to are apartments in the coastal towns and he has since said positive things in the local paper about investing in the hinterland towns instead). he does live in Maleny himself ; )

* Last I looked, the average annual capital growth for houses in Nambour was 14%. I think apartments were around 11 or 12%

Its one of those towns that is slowly going through a transformation and some people are starting to see that now. Just my two cents. :D
 
Hi fellow investors,

Just a very quick email to comment on my opinion of Nambour, Queensland as a good long-term residential property investment.

Infrastructure / Anecdotal Factors:

* Projected population growth for South-East Queensland.

* Apparently very high affordability issues on the sunshine coast.
Yes the coast is expensive in comparison to similar markets* Last I looked Nambour was officially the cheapest town on the coast.
Agreed
* Upgrade to rail line (Also one of the few towns on the coast with a train station).
True...but... Train is PACKED every morning. Only one train every hour The train is a standard city train..so no toilets on board for a1 1/2 hour trip to Bris. (there is a bus service from Nambour - Caboolture on the halfhour)
* Major upgrade to the public hospital about to be completed very soon.
True again...but nambour hosp is a JOKE this will be greatly improved if and when we get the new hosp at Kawana (but we won't hold our breath)* Quite a few medium-density townhouse developments have been built very recently all around Nambour.

* The Sunshine Coast Regional Council is based in Nambour.
Sort of...there are council chambers in nambour but council meetings are evenly split between caloundra, nambour and tewantin.
* The council has a 'beautification' plan (already implemented with the redevelopment of the town square) to try and rejuveniate Nambour's poor image.

* Nambour has always been a bit of an 'ugly ducking' from those who know of it. Used to be a lot of drug addicts renting cheap properties close to the public hospital when the methodone program was in place. That program has now closed down and apparently they all hang out for community pharmacists around the Maroochydore area.

* Ancedotelly, Ive met a few people that have either recently moved back to Nambour from the coast or are currently planning on doing so. You get more bang for your buck in Nambour. In my opinion you dont have the same level of issues with youth crime, tourists, traffic, etc that you get in the glitzy coastal towns.

* See Terry Ryder's "worst places to invest" report in which he criticizes the "sunshine coast" (however he does tend to generalise in this report, but what I believe he is referring to are apartments in the coastal towns and he has since said positive things in the local paper about investing in the hinterland towns instead). he does live in Maleny himself ; )

* Last I looked, the average annual capital growth for houses in Nambour was 14%. I think apartments were around 11 or 12%

Its one of those towns that is slowly going through a transformation and some people are starting to see that now. Just my two cents. :D

I agree with the above (see comments) and I love nambour too.
One warning though...after speaking to a number of REA's up there the advice has been...... Stick to the "lower priced" rentals..once you start offering "coast priced" renatls tenants go to the coast.
People tend to live in Nambour for 2 reasons
1: there were born(or grew up) there or
2: They can't afford to rent on the coast.
 
True again...but nambour hosp is a JOKE this will be greatly improved if and when we get the new hosp at Kawana (but we won't hold our breath)


It might be considered a joke by people who have had either little to do with it, a bad experience, or take what the sensationalist media say at face value. You may get an entirely different perceptive from people who work there or who have had a series of positive experiences. I can acknowledge different opinions and have experienced both sentiments. Therefore whether it is or isn't a 'joke' is not really overly relevant to this topic in my humble opinion. What is more important objectively is that it is currently a major form of public infrastructure for the region and given both the expansion of the hospital itself and the projected increased population it will continue to be so for the foreseeable future, regardless of what may or may not happen with the proposed hospital at Kawana.


True...but... Train is PACKED every morning. Only one train every hour The train is a standard city train..so no toilets on board for a1 1/2 hour trip to Bris. (there is a bus service from Nambour - Caboolture on the halfhour


Thanks I didn't know this level of detail as I dont catch the trains, but Ive always known that the train service is fairly inefficient. Last time I took the bus to Brisbane (many many years ago) it was no quicker time wise, in fact I vaguely recall it taking longer. In any event, public transport on the coast is generally pretty poor and inefficient and we can only hope that improves in the future. Despite these issues, I still feel that Nambour is a significant and major economic hub for the coast, and more specifically the hinterland. I dont think the current problems with the train is going to massively alter my overall opinion. Perhaps the upgrade may improve train times, and along with other investment in public transport infrastructure, improve accessibility of the sunshine coast generally.

:) :D
 
It's important to know that trains, while currently a problem for the area, ARE the foundations of growth. If the train becomes too over-packed, new services will be introduced, it's how the cookie crumbles. The question remains though, is a 1.5hr trip sustainable for a city commute? I think no...

I like Nabour, great SC position and prices are cheaper. Highway access is great, the place has to leap ahead soon....:)
 
1.5 hours is definately too long a commute to Brisbane. When I say population growth, Im referring to the people actually moving to the sunshine coast to live and work. Anything else is a bonus for me personally.
 
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