Sanctuary Point NSW
- Thread starter Azazel
- Start date
Interesting to read this, having spent some time away from the forum.
I have a property at Callala, this is the link (of a few) that I posted in 2012........... its good to see the 2 way highway will eventually be all the way including berry bypass...
http://somersoft.com/forums/showthread.php?t=78302&highlight=callala+beach
I have a property at Callala, this is the link (of a few) that I posted in 2012........... its good to see the 2 way highway will eventually be all the way including berry bypass...
http://somersoft.com/forums/showthread.php?t=78302&highlight=callala+beach
I grew up in Nowra and still holiday down there.
These areas are holiday rental markets, airbnb etc.
However the sanctuary point houses always go last and have the lowest rates.
Huskisson and the beach areas are always first pick.
I have stayed in Sanctuary point properties from airbnb but only because it was cheaper.
If you want long term rentals and not holiday, better to look at the high yielding townhouse and villas in the nice areas of Nowra like North Nowra or even parts of Bomaderry.
My Dad had 2 in Bomaderry and never had problems with tenants.
I think yield is still above 6% even for the newer properties with depreciation.
These areas are holiday rental markets, airbnb etc.
However the sanctuary point houses always go last and have the lowest rates.
Huskisson and the beach areas are always first pick.
I have stayed in Sanctuary point properties from airbnb but only because it was cheaper.
If you want long term rentals and not holiday, better to look at the high yielding townhouse and villas in the nice areas of Nowra like North Nowra or even parts of Bomaderry.
My Dad had 2 in Bomaderry and never had problems with tenants.
I think yield is still above 6% even for the newer properties with depreciation.
In early 2001 I looked at a nice PPOR in Callala Bay near boat ramp that was $280K but instead bought in Wollongong and still commute to Nowra every day for work. I know if I wanted to now live in Callala that I can no longer afford the same standard house that I was looking at then or live in now in Wollongong so Capital Gain has been OK from what I can see.
Can't wait. A bit sick of the roadwork so even go via the coast road as its a joke if you get behind a truck or slow driver as you have to follow them from Kiama bends all the way to Jaspers Brush south of Berry with little to no change to overtake.
Yep I get 6% "raw" yield in Worrigee ($420pw/$360K) not taking into consideration holding costs or depreciation so not too bad. Even seem some mild capital gain which shocked me a bit.
Nowra still has pretty high unemployment.
Rental yields for Sanctuary Point have been <>6% for a while.
These are both true. The difference is sales interest is rising and places are selling much more quickly. Sydney money is starting to flow.
10 months on and this property is till available... i was considering looking into some of the areas around but now i don't think so
Depends on how you invest. Countercyclical its perfect time to be buying, the full ripple out of Sydney is yet to hit there. Its already filtering into more premium areas so its not far off the lower sse areas. If you are waiting for the growth to start thats fine, invest elsewhere or wait, but once the growth really hits all the good cheap stock is gone anyway.
Based just on that property?
I went and had a look. Had that fake wood panel walls everywhere, not something I want to undertake at the moment. I would fire the rental manager too, new tenants had been there a couple of weeks, smelt like years. Happy to give that one a miss.
Very much so, owners have agents literally knocking on their doors asking if they're thinking of selling. Houses are selling much quicker.
People with a house worth $1M+ in Sydney visiting down there on weekends/holiday wouldn't blink at a sub $400k price tag.
Born in Nowra. Raised in North Nowra. Now live in Bangalee. I have 3 investments in central nowra( kinghorn st and berry st )
My thoughts in short
Can't go wrong in central Nowra just stay west of the highway and north of Allbatross road.
Northy is good but stay away from Goolagong st
Don't like worrigee. Future slum in my eyes.
And Sanga point. Investment maybe. Live there no thanks.
Cheers
My thoughts in short
Can't go wrong in central Nowra just stay west of the highway and north of Allbatross road.
Northy is good but stay away from Goolagong st
Don't like worrigee. Future slum in my eyes.
And Sanga point. Investment maybe. Live there no thanks.
Cheers
Hi devo76, Whats your view of Callala Beach as an investment. Do you see its popularity as a holiday destination increasing with the Princes highway being upgraded? Do you see Sydney (and Canberra?) dollars flowing there and increasing prices as baby boomers retire and want a Holiday House, or buy a holiday house with their Self Managed Super Fund (SMSF) dollars?
There are ugly beaches which have expensive real estate, whereas Callala Beach has a long stretch of pristine white sand beach, in a peaceful setting, with much to offer, I would have thought that it has all the ingredients to appeal to the upper end of the market......
Thanks
BestInvest(peter)
Hey Peter
Devo is spot on- as recently ex nowra and previously a social worker in area, still with IP in Nowra I'd watch the 'satellite' towns, keeping close to town cbd avoiding housing nsw pockets has worked well for us, beware lots of drop kicks in the bay and basin area, beautiful beachside locations can be deceptive- little employment, very limited public transport options into town, had plenty of clients in callala who deliberately chose it due to cheap rents in nice area where there was no real prospect of ever having to work. As mentioned previously on topic the waterfront in some of these areas can be unreal, and the bogan deroness just a coiple blocks back surreal. Research hard on the ground and keep tabs on local info such as south coast register for an insight into how this place ticks...
Devo is spot on- as recently ex nowra and previously a social worker in area, still with IP in Nowra I'd watch the 'satellite' towns, keeping close to town cbd avoiding housing nsw pockets has worked well for us, beware lots of drop kicks in the bay and basin area, beautiful beachside locations can be deceptive- little employment, very limited public transport options into town, had plenty of clients in callala who deliberately chose it due to cheap rents in nice area where there was no real prospect of ever having to work. As mentioned previously on topic the waterfront in some of these areas can be unreal, and the bogan deroness just a coiple blocks back surreal. Research hard on the ground and keep tabs on local info such as south coast register for an insight into how this place ticks...
Hi Frito,
Thanks for your insight. I purchased in Callala beach back in 2011, the property is on a large block 1 street back from the beach so it meets the criteria for a decent holiday home in turns of positioning. I have rented it out for $270pw, which is possibly less than market as its hard to get a tenant, but im hoping to be more entrepreneurial with the property and convert it to a holiday rental down the track, so im hoping the holiday market picks up as ease of transportation (Princes Hwy upgrade), and marketing of the area kicks in. As Sydney grows bigger towards the south west (towards picton road and all those estates like Bingara Gorge and around Camden), the are will be closer for Sydney holiday makers............ so then I will hopefully make up for the lower than market rent im getting........
I was just hoping in terms of Capital growth...... elderly Australians are reaching retirement age, they would want to live by the beach and Callala has all the criteria for a relaxed lifestyle (except possibly closeness to a hospital which may be a huge turn off), so they would be competing to buy....... and also with SMSF, which is for retirement.. id think they would use it to buy coastal......... Am I wishfully thinking too much here??
Hi,
We built a beautiful home in Callala for our PPOR back in 2010. We loved living there, and the beaches are spectacular, although when we sold it it was on the market for 18 months waiting for the right buyer and we discounted pretty heavily. I know there's always a lot of homes on the market, although ours was at the pointier end.
There is a level of bagan-ness in the town and there are mixed reports about the school, but it's a very safe place and I don't think crime is ever an issue (maybe someone could add more on this). I think people who work in Nowra but don't want to live in Nowra live at Callala and after a few years of travelling back and forward get sick of it, sell up and move back into town - not that it's very far! Having said that if I had to move back to surburbia I'd happily go back there.
Allgood
We built a beautiful home in Callala for our PPOR back in 2010. We loved living there, and the beaches are spectacular, although when we sold it it was on the market for 18 months waiting for the right buyer and we discounted pretty heavily. I know there's always a lot of homes on the market, although ours was at the pointier end.
There is a level of bagan-ness in the town and there are mixed reports about the school, but it's a very safe place and I don't think crime is ever an issue (maybe someone could add more on this). I think people who work in Nowra but don't want to live in Nowra live at Callala and after a few years of travelling back and forward get sick of it, sell up and move back into town - not that it's very far! Having said that if I had to move back to surburbia I'd happily go back there.
Allgood
Thanks Allgood,
I hear what you say. I just don't understand why it is not more popular as a travellers hot spot, the natural beauty, the beach, the white sand, are arguably one of the best on the east coast..... im hoping that this aspect of the area will be uncovered/ marketed in years to come and then spike demand......... it is possibly a lack of marketing by the council, and tourism bodies?.....
The only reason I can think is the lack of views. The towns on the coast that have done best for latte culture and Sydney money in the last cycle have been the ones with hillier geography allowing for more panoramic views of water. The flat towns don't have the same advantage so only front street or two get the growth. When the supply and demand equation gets out of whack due to Sydney money looking for a home then you will see the next round of growth regardless. Perhaps the numbers of entrants will be enough to dislodge the bogan element, perhaps not. That always remains to be seen.
