What is the best way to find out about bad streets in suburbs?
Get out there and look for yourself. Not hard to identify "bad" streets.
Although, it depends upon how you define "bad" ?
Plenty of bad tenants in good streets Im sure.
DYOR.
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What is the best way to find out about bad streets in suburbs?
Phone a local property manager and ask them what to avoid
Thank you for the help I was thinking of commuters and the thought that Spludgey has, about people choosing to move to the coast rather than Penrith and similar.
Sorry, one more question! What is the best way to find out about bad streets in suburbs?
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!
The areas in my view which are set for price rises are Woy Woy, Gosford, Narara, Mardi, Watanobbi (newer areas) and Berkeley Vale.
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I have a couple up there.
The market there is starting to move...not hot yet like Sydney...but a matter of time.
Rent returns are good 6-7% is readily available.
The areas in my view which are set for price rises are Woy Woy, Gosford, Narara, Mardi, Watanobbi (newer areas) and Berkeley Vale.
These are affordable areas with affordable houses - 270k to 450k.
Why do think Gosford prices are set for a rise? Are you referring to units or houses?
Gosford is affordable...it is now much cheaper than Sydney....and yes the increase will be for both Units and Houses.
The other thing is very little building has happened in CC for years...so supply is limited.
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Gosford is affordable...it is now much cheaper than Sydney....and yes the increase will be for both Units and Houses.
The other thing is very little building has happened in CC for years...so supply is limited.
Should be interesting....my Woy Woy purchase (2010) has gone up about 120k (being very conservative) in about 3 years. I bought it for 263k and did a 7k reno....and it returns about 380pw.
People have been saying units in Gosford are going to be taking off for at least the past 15 years.
Keep in mind that the new apartments near the Leagues Club on Baker St are now being rented out at reduced rates to Housing Commission tenants which is causing overall rents to drop.
People have been saying units in Gosford are going to be taking off for at least the past 15 years.
I grew up in Lisarow. If anyone wants to know anything about certain areas then ask away. I know most of the areas around Gosford pretty well.
Keep in mind that the new apartments near the Leagues Club on Baker St are now being rented out at reduced rates to Housing Commission tenants which is causing overall rents to drop.
Question....have you seen any new apartment buildings go up in droves?
The natural progression of growth in NSW is it start in Sydney...then it goes to Newcastle, CC, Wollongong..and then other regionals. Sydney is white hot....this will soon spread.
The rents on the CC are insane as this goes up...more people buy as rates are low...then this soaks up supply..and prices head up.
Some of the units on John Whiteway drive, gosford - have gone from about 600k when newly built in 2003 to their present value of 270k. I am unaware of other parts of Australia which have seen such falls. In 2003, I made what I thought was a low ball offer of 500k which in hindsight, I was lucky not to have been accepted.
Yes. That would be why all those units in the centre of Gosford (excluding John Whiteway Drive) are having major issues getting tenants.
And why apartment prices in new build apartments in Gosford have gone down when prices in Sydney have gone up in the period of 2003-2008.
Some of the units on John Whiteway drive, gosford - have gone from about 600k when newly built in 2003 to their present value of 270k. I am unaware of other parts of Australia which have seen such falls. In 2003, I made what I thought was a low ball offer of 500k which in hindsight, I was lucky not to have been accepted.
Hi china , price drops like that aren't as uncommon as you would think , though I'm suprised by that one . Probably makes it v good buying at the moment . Seriously
We bought a waterfront house for 750 last oct , which would have sold for around 1.4 , 5-6 years before .
I am not sure that the price drops in Gosford units indicate good buying at the moment.
I think the original asking prices back in 2003 when they were built reflected unrealistic boom conditions at the time. Many exuberant developers went belly up. In 2004-2005, The developers of units on John Whiteway drive were so desparate to either sell or lease their units that they were offering free TVs to purchasers and free sausages just for inspecting their units. Then they collapsed. Within weeks, tenants were being approached to buy units for 80% of what they were previously being marketed for and the price has continued to drop ever since.
But interestingly, in the past two years, I do not see any new massive unit developments happening in Gosford.
this might be a repost but this is a great read: http://forecast2.id.com.au/Default.aspx?id=259&pg=5520I am not sure that the price drops in Gosford units indicate good buying at the moment.
I think the original asking prices back in 2003 when they were built reflected unrealistic boom conditions at the time. Many exuberant developers went belly up. In 2004-2005, The developers of units on John Whiteway drive were so desparate to either sell or lease their units that they were offering free TVs to purchasers and free sausages just for inspecting their units. Then they collapsed. Within weeks, tenants were being approached to buy units for 80% of what they were previously being marketed for and the price has continued to drop ever since.
But interestingly, in the past two years, I do not see any new massive unit developments happening in Gosford.