I'm only new to this investing malarky and I don't claim to know much of anything. I'm not a real estate agent, just wanted to give my thoughts on Sanctuary Point NSW.
I've been going down there for about 8 years and researching real estate in this area for about 2 years, I have family who retired down there.
I know a little about the area, if anyone has any questions about what streets are like or particular houses let me know.
It had price rises around 2005-2007. Prices, dipped and flattened. Then they went up a little mid-late last year. A report in a property investing magazine named Sanctuary Point as a top suburb for rental yield.
I've noticed that towards the end of 2013 all of the cheaper 3 bedroom houses have sold. There are no listings under $200k (as far as I know the $193k 3 bedder is gone).
This 2 story would be my pick of the bunch around that price: http://www.realestate.com.au/property-house-nsw-sanctuary+point-111160839 I rang the agent last week out of curiosity and it was still available. He said it's had a reno, been painted obviously and new kitchen, it would rent for $260-$270 (6.17%)-6.41%). It was $230k not long ago and will probably sell for less than $210k.
There is not much left in the sub-$250 range, and buyers have moved into the sub $300k and there are plenty disappearing above that too.
Locals reckon this happens as people put out 'For Sale' signs during the holidays, hoping for a bite at a good price from the tourists who (hopefully) fall in love with the area. But the activity has continued early this year.
What are other people's thoughts, can this be an indicator that prices are going to increase?
The highway South of Nowra has been completed, so it's 2 lanes nearly all of the way from Berry, making the trip to/from Sydney quicker - if and when they ever finish the upgrades that they're doing South of Kiama at Gerringong (was a ******* nightmare at xmas)! The road that cuts through from the highway at Terpentine Road to Canberra has been finished, and only about 1km of it is unsealed, cutting off about 30mins from that trip. Canberrans love their fancy South coast holidays, and they used to have to drive via Batemans Bay.
It is right on St Georges Basin which is good for fishing and swimming with little kids. It is always packed with boats at holiday time, locals talk of staying away from the the boatramp around this time, as it takes too long to get in the water.
I've seen houses on the water have sold. There are also very expensive houses that have titles that go to the water with no public access in some areas (I'm sure some retired council man is doing pretty well from that dodgy deal
It is only about 7 minutes drive to the beaches that I prefer at Jervis Bay and the fancy expensive houses of Huskisson and Vincentia.
Canberra prices went up. Obviously Sydney (where I live and can't afford to buy is going crazy at the moment, is it possible for the supposed 'ripple effect' to get to Sanctuary Point sooner rather than later in the absence of other obvious indicators?
I've been going down there for about 8 years and researching real estate in this area for about 2 years, I have family who retired down there.
I know a little about the area, if anyone has any questions about what streets are like or particular houses let me know.
It had price rises around 2005-2007. Prices, dipped and flattened. Then they went up a little mid-late last year. A report in a property investing magazine named Sanctuary Point as a top suburb for rental yield.
I've noticed that towards the end of 2013 all of the cheaper 3 bedroom houses have sold. There are no listings under $200k (as far as I know the $193k 3 bedder is gone).
This 2 story would be my pick of the bunch around that price: http://www.realestate.com.au/property-house-nsw-sanctuary+point-111160839 I rang the agent last week out of curiosity and it was still available. He said it's had a reno, been painted obviously and new kitchen, it would rent for $260-$270 (6.17%)-6.41%). It was $230k not long ago and will probably sell for less than $210k.
There is not much left in the sub-$250 range, and buyers have moved into the sub $300k and there are plenty disappearing above that too.
Locals reckon this happens as people put out 'For Sale' signs during the holidays, hoping for a bite at a good price from the tourists who (hopefully) fall in love with the area. But the activity has continued early this year.
What are other people's thoughts, can this be an indicator that prices are going to increase?
The highway South of Nowra has been completed, so it's 2 lanes nearly all of the way from Berry, making the trip to/from Sydney quicker - if and when they ever finish the upgrades that they're doing South of Kiama at Gerringong (was a ******* nightmare at xmas)! The road that cuts through from the highway at Terpentine Road to Canberra has been finished, and only about 1km of it is unsealed, cutting off about 30mins from that trip. Canberrans love their fancy South coast holidays, and they used to have to drive via Batemans Bay.
It is right on St Georges Basin which is good for fishing and swimming with little kids. It is always packed with boats at holiday time, locals talk of staying away from the the boatramp around this time, as it takes too long to get in the water.
I've seen houses on the water have sold. There are also very expensive houses that have titles that go to the water with no public access in some areas (I'm sure some retired council man is doing pretty well from that dodgy deal
It is only about 7 minutes drive to the beaches that I prefer at Jervis Bay and the fancy expensive houses of Huskisson and Vincentia.
Canberra prices went up. Obviously Sydney (where I live and can't afford to buy
is going crazy at the moment, is it possible for the supposed 'ripple effect' to get to Sanctuary Point sooner rather than later in the absence of other obvious indicators?
