NSW Central Coast

What do you guys think about Toukley / San remo? Lots of 7% yields there on sub 300k properties - house and land often. Any chance of capital growth in this suburbs?
 
When we we looking on the cc ten years ago , San Remo ..... Well .... Think mt Druitt , Frankston , Logan . I quite liked toukley , also budgewoi and buff point .

We spent some time checking out buff point and put in a couple of low ball offers but no one bit . 400 for a subdividable waterfront reserve ..::rolleyes:

There was a waterfront house for sale recently toukley for around 500 which had a granny flat , but I had a quick look now and it doesn't appear to be there at the moment . Though there are a couple of waterfronts at the moment which would have probably been around a mill in the last boom .

The nicest area around there is Norah head , so have a look there as well .

Cliff
 
When we we looking on the cc ten years ago , San Remo ..... Well .... Think mt Druitt , Frankston , Logan . I quite liked toukley , also budgewoi and buff point .

We spent some time checking out buff point and put in a couple of low ball offers but no one bit . 400 for a subdividable waterfront reserve ..::rolleyes:

There was a waterfront house for sale recently toukley for around 500 which had a granny flat , but I had a quick look now and it doesn't appear to be there at the moment . Though there are a couple of waterfronts at the moment which would have probably been around a mill in the last boom .

The nicest area around there is Norah head , so have a look there as well .

Cliff
I was more thinking about small villas / townhouses in these parts which are listed for 170k and renting for 230/week. I am thinking that it is hard for properties to go much below 170k so there should be a margin of safety there.

The waterfronts in toukley are dangerous as they are prone to flooding.
 
I was more thinking about small villas / townhouses in these parts which are listed for 170k and renting for 230/week. I am thinking that it is hard for properties to go much below 170k so there should be a margin of safety there.

The waterfronts in toukley are dangerous as they are prone to flooding.
And tsunamis :eek: :eek:

Depends on the individual block . My recollection is that those closer to the bridge are higher but I'd assume anything a couple of meters above high water would be ok . If its a risk you can check for a flood map . All part of DD

Cliff
 
I was more thinking about small villas / townhouses in these parts which are listed for 170k and renting for 230/week. I am thinking that it is hard for properties to go much below 170k so there should be a margin of safety there.

The waterfronts in toukley are dangerous as they are prone to flooding.
China I dont think you will find many @ $170K unless your referring to the
two 1 bedders @ $145K in Dalnott rd but these have been on the market for
almost 8 months now. a few two bedder town houses in same complex sold
for $165K just over 12 months ago which I missed out on.
The going rate for 2 bedder units seem to be around the $220k mark of late.

A lot of real estate agents here will quote higher potential rental returns then what
you would end up with, there are a heap of units in the Toukley/Gorokan area.

Has been some good buys at San Remo (houses) which only last a few days after listing.
 
Well...a friend bought a house in Gorokan in 2011 for $217k....recent bank vals is around 320k.

Rents for about $360pw.

Hows that for a return??

What do you guys think about Toukley / San remo? Lots of 7% yields there on sub 300k properties - house and land often. Any chance of capital growth in this suburbs?
 
Hello

Yes, there are some 3-4 bed cheapies up the Coast around 250-300k

If you are after higher yields then you could take advantage of the secondary dwelling (SEPP) and put a two bedroom granny flat on the same property and walk out with change from $400k.

A 270k property in Berkley Vale would rent out for about $370 per week (7.12% yield) and a 2 bedder on the back would rent out for about $280 per week (over 8% yields) looking at Real estate dot com

Hi all,

I am looking to invest around $200,000 for my first investment property. I am looking to get my feet wet in property investing and don't necessarily plan to keep my first property long so I am giving more consideration to yields rather than capital gains.

The Central Coast has caught my eye as a potential starting point for the following reasons:
- The Coastal lifestyle (desirable for an ageing population)
- 6 - 7% yields
- Proximity to the two largest cities in NSW
- Rail and F3 access to both said cities.
- Limited land available east of the F3.
- Proximity to coal operations (some of which have pending applications for expansion).
- Warnervale airport
- Proposed development: Wyong Employment Zone (Warnervale), Chinese Theme Park, Munmorah Power Station, Magenta Shores Tourist Facility, Kellogg's Factory

The beaches are beautiful and I have always considered Wyong Council as very innovative and proactive.


Please share your opinions!
 
Yea that property had been on the market for a long time, I remember back in Feb I was looking at buying in Toukley to live in temporarily. Saw that, but passed too high price.

Toukley's a decent area to live in and there are "Proposed" council devs for tourism
Looking at re.com.au, there appears to be a fair few Toukley waterfronts for the low to mid 600k with dual rental opportunities, leading to gross 5% yields. These have also been on the market for a while.

I notice that there has been no price growth for these types of properties over the past ten years.

The only employment in this area seems to be tourism. Could this area be like The Entrance fifteen years ago. Is this a fair assessment?
 
Looking at re.com.au, there appears to be a fair few Toukley waterfronts for the low to mid 600k with dual rental opportunities, leading to gross 5% yields. These have also been on the market for a while.

I notice that there has been no price growth for these types of properties over the past ten years.

The only employment in this area seems to be tourism. Could this area be like The Entrance fifteen years ago. Is this a fair assessment?
The fact that there hasn't been any growth in this area for the last ten years is exactly the reason why I'd look at it . Only reason why we didn't look at it was land tax in NSW . Under 500 I felt it looked like an interesting prospect .

I don't think tourism in an industry there . There is some local industry on the central coast . It's close to sydney and Newcastle and the overheads would be less in terms of land cost and probably labour costs . I would imagine a fair number of retirees.

The entrance has always had a tourism edge to it but I've never been aware of that in toukley , it's more a suburb in the water .

Cliff
 
The fact that there hasn't been any growth in this area for the last ten years is exactly the reason why I'd look at it . Only reason why we didn't look at it was land tax in NSW . Under 500 I felt it looked like an interesting prospect .

I don't think tourism in an industry there . There is some local industry on the central coast . It's close to sydney and Newcastle and the overheads would be less in terms of land cost and probably labour costs . I would imagine a fair number of retirees.

The entrance has always had a tourism edge to it but I've never been aware of that in toukley , it's more a suburb in the water .

Cliff
So my question is whether Toukley, which is a quiet suburb for holiday makers and retirees, on unattractive still water could be due for a sharp price rise down the track such as the Entrance which used to be a sleepy suburb for holiday makers 20 years ago and Ettalong beach which used to a sleepy suburb for holiday makers 20 years ago until developers suddenly moved in.
 
on unattractive still water .........
Sorry china , there are many people who find it quite attractive .....

Many people don't want to be on surf as it can be dangerous .

Once you get out on to the water at ettalong , you are exposed to quite tricky currents and a narrow winding channel . The rip bridge isn't called the rip for nothing .

For many people the water at toukley is safe and sheltered . However if you don't understand it, you shouldn't buy it.

PS the reason my nick is see change is that sea change was already taken ....

Cliff
 
So my question is whether Toukley, which is a quiet suburb for holiday makers and retirees, on unattractive still water could be due for a sharp price rise down the track such as the Entrance which used to be a sleepy suburb for holiday makers 20 years ago and Ettalong beach which used to a sleepy suburb for holiday makers 20 years ago until developers suddenly moved in.
Clients of mine who are keen fishermen and boaties find it pretty attractive.
 
In terms of properties with water exposure, I remember a post by propertunity stating that live water e.g. ocean/beach command the best prices over still waters - lakes over water views which are better than inland suburbs with water views. I think this analogy would be correct in most regions be it central coast or sydney and hence, would correlate with CG rises.
 
china,

Your pump for the properties in Niagara Park has come off a bit, but is still quite high and has 121 people searching per property!

http://www.rs.realestate.com.au/cgi-bin/rsearch?a=sp&s=nsw&u=niagara park
I guess this forum comes up regularly in any research on google regarding property, suburbs, investments. So a link on this forum is almost like solid gold for anyone wanting to promote anything.

However, personally, I have stopped looking in Niagara Park because no new opportunites have come up in recent times.
 
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