NSW Central Coast

tambourineman said:
Given the investment going on the pacific highway I think the mid north coast would be better
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Not sure on that .

The Hexham bypass is probably ten years off and will take around 12 mins of the trip .

I don't mind karuah though . It's the first place with deep water acces north of Newcastle , and I can see that in 20 years it will become a boaters hub.

The bypass impacted the economy sifnificantly , but driving through now , it's a much nicer place and I can see , if the council get things correct , it has a medium sized future . If does have a nice Greek restaurant , which , while bring tacky in that typical cheap restaurant way ( it's in an old servo ) the food is great and popular . Karuah , is the closest town to our weekender in north arm cove so we go there frequently.

Cliff
 
see_change said:
Not sure on that .

The Hexham bypass is probably ten years off and will take around 12 mins of the trip .

I don't mind karuah though . It's the first place with deep water acces north of Newcastle , and I can see that in 20 years it will become a boaters hub.

The bypass impacted the economy sifnificantly , but driving through now , it's a much nicer place and I can see , if the council get things correct , it has a medium sized future . If does have a nice Greek restaurant , which , while bring tacky in that typical cheap restaurant way ( it's in an old servo ) the food is great and popular . Karuah , is the closest town to our weekender in north arm cove so we go there frequently.

Cliff
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There is about 5 billion worth if work in the pipeline on the hwy between port Macquarie and ballina that the government has commited to. I am workog on one at the moment , there is another section at coffs underway, one at kempsey, two about to start between nam bucks and coffs and another out to tender from oxley hwy to kundabung these are massive projects on par with anything you will see in Sydney
 
Yep , but it's still further away from sydney than the cc . It will improve it , but given growth in nsw in sydney centric , I can't see it out performing the cc.

Cliff
 
coral said:
Hi Cliff and China, thanks for your comments and i can't disagree with either of your comments which makes my decision making harder. I am providing the details of the scenario and hoping that you would help me analyse it:

Deception Bay, Qld: 3Bd T/house (Higgs St, is it nice?), 310k, weekly rent 330pw, Net Yield 5.02%, NRAS, Capital Growth predicted (5yr) 5.72%, Rental Vac 4%; Risk: i am not sure if its flood hit area or not and to what extent it will be impcated; travelling all the way there from nsw is a bit hard for me at this stage;

Wyoming CC, 3Bd T/House (kinarra av? is it nice street?), 420k, weekly rent 475pw, sinking fund $77, rental vacc 2%; NRAS;

Your thoughts folks as to which one would you go for and why? Hi China have you got Capital Growth report etc for these suburbs from your CBA rp data? Can you share pls?
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Hi Coral,

Kinarra Avenue Wyoming is a pretty run of the mill street on the Central Coast - not particularly flash and not particulary shabby. Pretty standard tenant territory. It has a large bulk billing medical centre at the start of the street, at its intersection with the Pacific Highway. It is about a fifteen minute drive to Gosford train station. Many units and townhouses but currently, reasonably low vacancy.

With regards to the rp data via CBA, it says that Wyoming has had a negative 2.13% growth for units over the past twelve months. This data set also correlates with australian property monitors data set via this link.

http://www.homepriceguide.com.au/Re...&LocationType=Suburb&State=NSW&SuburbId=49622

A 420k townhouse in Wyoming would be far higher than the median price for units in this suburb which stands at 263k according to CBA rp data.

Good luck with your search - this is always the difficult bit.
 
see_change said:
Yep , but it's still further away from sydney than the cc . It will improve it , but given growth in nsw in sydney centric , I can't see it out performing the cc.

Cliff
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I think the point is to invest somewhere like this because they Re reasonably small places and most of the people who work on those projects relocate temporarily.

As for the Sydney centric thing on pretty sure most people move to the central past to get away from Sydney and most people I know that live there avoid going back as much as possible.
 
tambourineman said:
I think the point is to invest somewhere like this because they Re reasonably small places and most of the people who work on those projects relocate temporarily.

As for the Sydney centric thing on pretty sure most people move to the central past to get away from Sydney and most people I know that live there avoid going back as much as possible.
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All valid points , but the thing that drives prices up , are those people selling up in sydney and moving that money up to the cc and spending the 1.3 mil they got for selling up in the north shore to buy a waterfront in booker bay etc . They see better bang for their bucks on the cc . My parents did this , but ended up not liking and moving back / selling at one of those times when the market was dead ....

Cliff
 
coral said:
Hi Cliff and China, thanks for your comments and i can't disagree with either of your comments which makes my decision making harder. I am providing the details of the scenario and hoping that you would help me analyse it:

Deception Bay, Qld: 3Bd T/house (Higgs St, is it nice?), 310k, weekly rent 330pw, Net Yield 5.02%, NRAS, Capital Growth predicted (5yr) 5.72%, Rental Vac 4%; Risk: i am not sure if its flood hit area or not and to what extent it will be impcated; travelling all the way there from nsw is a bit hard for me at this stage;

Wyoming CC, 3Bd T/House (kinarra av? is it nice street?), 420k, weekly rent 475pw, sinking fund $77, rental vacc 2%; NRAS;

Your thoughts folks as to which one would you go for and why? Hi China have you got Capital Growth report etc for these suburbs from your CBA rp data? Can you share pls?
Click to expand...

Hi Coral,

Why does it have to be a NRA property?

That price seems very high for a townhouse in Wyoming, for around 350k you can get a brick house on 600m2 in that area.

Or if you have to go the townhouse route then there are very nice recent builds around North Gosford for around the 320-340k mark.

I'm not sure on that rental estimate, seems very high for what it is.

Not saying the area isn't bad, but just questioning the NRA part.

You might get more rent for it, however at that price you are effectively paying almost 100k over what other 3 bedroom townhouses are going for.

If you absolutely have to go down the NRA route, is it possible to purchase a house and then apply to have it NRA qualified? I'm not sure how it works.

I know you can do that with defence housing.
 
rockDr said:
Hi Coral,


That price seems very high for a townhouse in Wyoming, for around 350k you can get a brick house on 600m2 in that area.

.
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Houses between 300 to 350k in Wyoming, older style on their 600m2 or larger blocks with a gross rental yield of 6% have been selling better than hot cakes over the past twelve months. Often they are on the market for only a week or two and then sold. So clearly there is strong investor sentiment for these properties at present.
 
There was a post recently in which the valuations of some NRAS properties were not backed when it came to bank finance and valuations .

Personally I think it's a contrived scheme from the investor point of view and would avoid it . I haven't seen one example quoted in the forum which makes me want to have a closer look .

Cliff
 
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Deception Bay vs CC

rockDr said:
Hi Coral,

Why does it have to be a NRA property?

That price seems very high for a townhouse in Wyoming, for around 350k you can get a brick house on 600m2 in that area.

Or if you have to go the townhouse route then there are very nice recent builds around North Gosford for around the 320-340k mark.

I'm not sure on that rental estimate, seems very high for what it is.

Not saying the area isn't bad, but just questioning the NRA part.

You might get more rent for it, however at that price you are effectively paying almost 100k over what other 3 bedroom townhouses are going for.

If you absolutely have to go down the NRA route, is it possible to purchase a house and then apply to have it NRA qualified? I'm not sure how it works.

I know you can do that with defence housing.
Click to expand...

Hi rockDr, it doesn't have to be NRAS butam just evaluating it as part of various options available for IP. Just attended a few NRAS seminars and wanted to check the Govt subsidy of10k/year as it boosts the C/Flow. You have just confirmed my doubt that it is overpriced for what it is.
Thanks China for sending the link, really appreciate your help. Also thanks Cliff for your viewpoint. I suppose search will continue.
 
see_change said:
There was a post recently in which the valuations of some NRAS properties were not backed when it came to bank finance and valuations .

Personally I think it's a contrived scheme from the investor point of view and would avoid it . I haven't seen one example quoted in the forum which makes me want to have a closer look .

Cliff
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Hi Cliff, you are right, there have been cases like that but then there are some other in Vic that were govt owned and were very closely monitored to give investors what they propose aspart of the scheme. Would be interested to hear from someone who has already bought undetr the scheme?
 
We looking at a new unit development ( unusual for us , but it's better than any OTP I've seen before ) .

One of the selling points is that the developer is ensuring that no one is buying under that scheme .

He doesn't want to attract " that sort of tenant "

For me it's philosophical . If I'm going to buy in a cheaper area , it's because I want to get a Really good deal in terms of purchase price , by finding a motivated vendor , or finding a property that , for what ever reason , has a better than average return .

For me NRAS is a dumbed down system , making it attractive to buy properties I wouldn't normally look at . For me that's the wrong reason to buy a property.

Maybe I'm wrong , and maybe I'm missing out on bargains , but over the years , I can't think of one system that appeared contrived to me , that turned out to be a good system , with the possible exception of defense housing in it's very early days.

Cliff
 
James Bond said:
maybe the FHOG?

JB
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I didnt qualify for that , and it wasn't specifically an Investment scheme .

A Government hand out . If I'd qualified , I would have happily taken it .

Having said that that , in it's current form of stamp duty exemption in NSW , our daughter had found that new properties that she would qualify for seem to be priced higher than the secondary market , so she's not looking at it . Our broker , who she is using , said in his experience , that was often the case.

Cliff
 
china said:
Are you talking about Wyong, Warnervale and Budgewoi?
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China further north.

Lake Munmorah now has the new woolies up and running and the market
in this area is now starting to move, have real estate agents calling all
the time looking to list my properties as they have no listings.

Wyee might be an area to watch in the next few years as the western side
of the rail station has just been zoned residential and land set aside for another
woolworth supermarket.

Been some good bargains from Charmhaven through to the southern end of Lake macquarie.

Picked up a villa for $175000/rent $310 and house on small block $172000 this year.
 
nww said:
China further north.

Lake Munmorah now has the new woolies up and running and the market
in this area is now starting to move, have real estate agents calling all
the time looking to list my properties as they have no listings.

Wyee might be an area to watch in the next few years as the western side
of the rail station has just been zoned residential and land set aside for another
woolworth supermarket.

Been some good bargains from Charmhaven through to the southern end of Lake macquarie.

Picked up a villa for $175000/rent $310 and house on small block $172000 this year.
Click to expand...

Nods head.

Also, the 2nd application for the proposed underground coal mine is currently with the Department of Planning and Infrastructure. It was only rejected 4 days before the last election as a political stunt.
 
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