NSW Central Coast

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From: Anonymous


I wonder if there are investors out there willing to share their experiences and thoughts regarding property investing on NSW Central Coast: pros and cons, good areas and areas to stay away from, types of property making best investment, etc.
 
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Reply: 1
From: Thorpey !


Anon,
Anywhere between the beach and the freeway, and any type of property you care to look at so long as they check out ok with building/pest etc.
Basically, you have a lower yield, but high growth of course.
I prefer homes within 5 mins drive to beach and close to schools and shops/trans etc. The basics always apply. Just my pref.
There is a major shift from Sydney to the Coast and I just don't see it stopping until it's all built out between Syd & Newcastle!

Looking down the track....
Thorpey!

"Better to have it and not want it, than to want it and not have it"
 
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Reply: 1.1
From: Kathryn H


The Central Coast is getting as bad as Sydney, things seem to be overpriced. We bought a property last August in Terrigal for $263k and it's now valued at about $339k. Certain areas are definitely more expensive, Terrigal, Avoca, Wamberal, Forresters Beach, Matcham (acreages there). Hard to find anything under $300k in those areas anymore. You can get something under $300k in areas like Erina, Kincumber, Springfield and Gosford. Again, the further you get from the beach, the cheaper it is. As we are in Terrigal we have been primarily looking around the beach areas, but we may have to start looking elsewhere. Good luck!
 
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Reply: 2
From: Guy Wood


It really depends on what you're looking for.
There are some fantastic deals to be had on the coast. There are some big old blocks of flats, & houses divided into flats which are in good positions, have good returns, but do require some maintenance. There's ample opportunity for those wanting to develop.
Do yourself a favour & spend a few w'ends driving around the lakes & beaches.
Guy
 
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Reply: 2.1
From: Thorpey !


Couldn't agree more!
Plenty of older style houses that renovate easily and the value added is tremendous.
We bought in Wamberal (a 2br PVC clad on steel poles) in 1997 for 140k. Filled in the bottom with 2 more br and a bathroom, internal stairs and garage. latest valuation(lenders) = 335k.
We have just bought a 2br brick in Killarney Vale (Shelley Beach end) which we can open up into the garage to make inside larger. garage can be relocated elsewhere as it's a corner block!
Of course, this is great if you are into value adding. Otherwise, there are still plenty of opportunities to be had on the Coast.

Thorpey!

"Better to have it and not want it, than to want it and not have it"
 
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Reply: 1.1.1
From: Adam McGuinness


If you want easy access to the freeway and Woy Woy station, be surrounded by Brisbane Waters National Park, access to the water and in some cases water views, I believe there is a great deal of potential in Phegans Bay.

It's neighbour Woy Woy bay now sells prime properties for 700K, where as Phegans Bay has always been the poor relation.

I believe there is a lot of growth to be had. And to be totally above board, yes I live there, so of course I want to see it surge.

Check it out.

Adam
 
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Reply: 1.1.1.1
From: Thorpey !


To be honest Adam, I haven't looked into Phegans Bay, but understand you fully. Nice part of the world indeed.
I would have thought it to tag along with Wow Woy Bay.
I'm sure it will, and soon!

Thorpey,

"Better to have it and not want it, than to want it and not have it"
 
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