NSW Central Coast

Discussion in 'Where to Buy' started by Paul B., 12th Mar, 2013.

  1. rockDr

    rockDr Member

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  2. tess85

    tess85 Addicted to SS

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    Interesting article with the focus on Gosford and East Gosford.

    What are people's opinions on West Gosford vs East Gosford?
     
  3. rockDr

    rockDr Member

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    West Gosford traditionally industrial area, East Gosford in recent years seen as quite trendy and up and coming suburb. Although in the past 10-15 years ago East Gosford was not seen as a real nice suburb.
     
  4. Kipp

    Kipp Member

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    Hi Ali,
    I am interested in buying in Gosford also. As I have been priced out of Sydney. Because I am a first time home buyer, gov't incentives make a new home seem pretty attractive (although personally I prefer older units).

    You mentioned you own a property in North Gosford. Prices have ticked up in the last 1-2 years, but still a million miles from Sydney and Wollongong. And seem to be cheaper than the beachy areas on the CC. Is there something about Gosford that I am missing? Sure the main st is a little Daggy, but still beautiful and convenient to everything.

    What has your experience been like? Have you ever had trouble getting tenants for your property? And lastly (do you have an opinion on the Quantum Towers development?
    Apologies for all of the barrage of questions... :)
     
  5. Propertunity

    Propertunity Real Estate Buyers Agent

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    The same could be said of Redfern in Sydney 10-15 yrs ago, or Marrickville. Time changes things.

    (caveat: No, I am not saying East Gosford is ever going to be a Redfern equivalent.)
     
  6. Investig8

    Investig8 Member

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    i would say it's a great prospect for a long term outlook of say 10-15 years for the right investment, for reasons being when the developments are announced, for example the Warnervale Town Centre, the original completion was set down if I remember correctly, somewhere at the end of 2010, here we are and it's 2015 and it will be at least minimum 5-10 years before it's fully realised.

    If we hit a stall period like we did twice in the last decade, add another 5 years.

    The Tuggerah situation has been on the cards for years and I feel it's easily the same time frame again.

    What is preventing real growth is business. Until the local economy is stimulated enough, and businesses find it appealing, the lower commercial costs to establish and local and state government start funding a business incentive package to make it incredibly attractive all we will have is a great population, high unemployment and serious infrastructure concerns.

    We have had a couple of majors (like woolies) establish in the North but we have had some impactful closures as well.

    Gosford to me has being a black swan for many years, it just hasn't been given a real crack, up and down like a roll-a-coaster and many times including at present the local and state government are finally realising they need to stimulate it with long term commitments from a commercial perspective, it can be such a great place however the pockets of growth here and there doesn't define any one ideal location.

    Thoughts on living here, since I grew up on Sydney's Northern Beaches, I feel it is a fantastic place in every sense except employment and infrastructure (which is usually inadequate and an after thought) when trying to meet the demand of such a growing population.

    :D
     
  7. rockDr

    rockDr Member

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  8. Investig8

    Investig8 Member

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    Love it, Froggys site, that's been going on for a while.

    As mentioned in the article previous developments have been rejected, at 22 and 15 storeys.

    I doubt this will get through as the shear size (up to 34 storeys) will be opposed heavily in that area.
     
  9. Kipp

    Kipp Member

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    Exactly what was Froggy's? I wasn't around in Gosford when it was open?
    But yeah... 34 stories is a bit of dodgy for the Central Coast. I think a storeys max is enough considering the size of the town...
     
  10. MaxwellSmart

    MaxwellSmart Member

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    Froggy's was an indoor roller skate rink.
     
  11. lawmich

    lawmich Member

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    so what's the verdict for gosford, east, north and west gosford? the current prices aren't ridiculous but may be overpriced.
     
  12. Investig8

    Investig8 Member

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    Can't say I'm overly excited about Gosford or anything on the CC at the moment, I've seen a softening of local investment but an increase from Sydney investors, I believe when someone does the comparison between the Greater Sydney regions and your looking from out west to the north it certainly looks like your getting value for money but depending on your strategy and the type of investment your interested in and for what purpose I still feel you can find better opportunities dollar for dollar elsewhere around the country.
     
  13. Propertunity

    Propertunity Real Estate Buyers Agent

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    I went to bid at auction for a client at 10 Devon St Cambridge Park last Saturday. Our CMA said $380-420K. Plenty of recent comparables to support that. It's a granny flat site so we added $20-25K on top, due to competition for granny flat sites and auction clearance rates in SYD at near 90% at present.

    Our client, to his credit, increased this by $10K to give us a bidding limit of $455K. So we should have been in with a good chance. (Or so I thought)

    It sold for $513,000! (and not to us)

    This is for a 3brm flat fibro 1950's house with flat roof in below average condition with an original dump of a kitchen. In a suburb about as far west of Western Sydney that you can get and still be called SYD and not The Blue Mountains.

    The agent seemed please to advise me that if we paid that much and added a granny flat, we could get a 5% rental yield. I wasn't that impressed. This property sold on a 3.6% rental yield.

    Since last Saturday, another similar property sold for $550K and another for $520K.

    When this ripple gets to the Central Coast we are in for even more growth than currently being experienced. Hold on for the ride, is all I can say.
     
  14. Phar Lap

    Phar Lap Member

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    Whats your take on GF blocks on the CCoast, Propertunity?
    Looking pretty hot around KVale, BVale shelly etc.
     
  15. Simon L

    Simon L Member

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    East Gosford definitely considered more 'premium'....but anything in Gosford/Woy Woy has been going crazy for the last 12 months; especially anything with R1 zoning >750sqm blocks for triplex builds
     
  16. Propertunity

    Propertunity Real Estate Buyers Agent

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    In view of what has been happening in W Sydney, they have to be seen as ultra-good value, in my opinion (for the right price).
     
  17. lawmich

    lawmich Member

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    http://www.realestate.com.au/property-house-nsw-cambridge+park-119346187 626sqm. Perhaps the buyer sees the potential in housing 10+ people and charge them $200 each per week!

    I certainly hope the ripple gets to CC.
     
  18. lawmich

    lawmich Member

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    Just looking an Bvale and Kvale houses. Are GF lands have to be over 600sqm in Gosford?
     
  19. Shahin_Afarin

    Shahin_Afarin Finance Broker

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    ....and hosted the occasional school discos.
     
  20. Phar Lap

    Phar Lap Member

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    BVale and Kvale are both Wyong Shire. And yes they are zoned for GF's.
    Im pretty sure min land is less than 600. Can anybody else confirm?

    Obviously corner blocks would be preferred or at least worth a bit more due to separate frontage access.