Shoal Bay at Port Stephens

[balwoges]

I have noted with some surprise the prices now being obtained in this area, it has usually been seen as the poor relation to Soldiers Point.

This house was sold for $730,000, [URL="http://www.realestate.com.au/property-house-nsw-shoal+bay-117969967"[/URL] and last week contracts were exchanged on a house/townhouse [1 of 3] for $600,000, no views and on a busy road.

There are still lots of older homes here, but all within walking distance of Shoal Bay, Zenith Beach and Fingal Bay.

 

[Macca]

I have noted with some surprise the prices now being obtained in this area, it has usually been seen as the poor relation to Soldiers Point.

This house was sold for $730,000, [URL="http://www.realestate.com.au/property-house-nsw-shoal+bay-117969967"[/URL] and last week contracts were exchanged on a house/townhouse [1 of 3] for $600,000, no views and on a busy road.

There are still lots of older homes here, but all within walking distance of Shoal Bay, Zenith Beach and Fingal Bay.

In the past rental returns were just average or less due to so many holiday homes in the area. I see it as a capital gain type of investment and tends to rise about a year after Sydney has a rise in price but when it stops, it stops dead over night almost.

Been some price falls over the past 5 years and quite a few unit developers have got severely burned as well as local trades.

Shoal Bay is not so popular for permanent rentals, Nelson Bay, Salamander Bay and Corlette are closer to schools and shops so are more popular for rentals.

 

[see_change]

2 1/2 years ago when we bought in North arm cove , the following week there was an article saying the coast is toast . The south side of port Stephens had the highest rate of mortgage delinquency in Australia .

It's that Type of place . Boom when things are good and really bad when things aren't .

I'd heard it was moving . The North side hasn't moved yet though stock has decreased .

Interestingly it's quicker to get to the north side than the south side from Sydney due to the free way .

Cliff

 

[Jaggannath]

Yup, I always found that funny seech. I personally would happily live in Fingal moreso than Shoal, especially if they build that bypass road. Having said that, there are better places for your money. Corlette is nice.

 

[datto]

I used to crash at a place on Foreshore Dr. Right on the water. I'd "borrow" lol the neighbors small boat and go and catch flathead.

Ride a motorbike onto that big beach at Anna Bay and get chased by the ranger out near that corrugated iron house on the beach. Ah, Nelson Bay was fun but expensive ... 20 bucks for fish n chips at the wharf. Realestate was cheap but when I think about it, its only a holiday desto and prices stagnate.