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.
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.