Did i hear you mention housing commision sell off??? cha ching, wheres my cheque book....
haha
Sydney and Central Coast - we have lift off
- Thread starter sash
- Start date
Did i hear you mention housing commision sell off??? cha ching, wheres my cheque book....
haha
That comment about Gloria Jeans at Deepwater Plaza being packed on dole cheque day reminded me of working at Claude Fays Hotel at Hornsby years ago.
Sunny Corner bar was always packed on dole day (I think it was Thursdays) and Rolling Stones "Jessie" used to be played over and over and over again.
Easy to score on dole day...even easier to end up in a fight...I recall there were lots of fights...the really good ones involved bouncers/plate glass windows/chairs/pitched battles with glasses in the Bird Bar/and usually ended with police.
Sunny Corner bar was always packed on dole day (I think it was Thursdays) and Rolling Stones "Jessie" used to be played over and over and over again.
Easy to score on dole day...even easier to end up in a fight...I recall there were lots of fights...the really good ones involved bouncers/plate glass windows/chairs/pitched battles with glasses in the Bird Bar/and usually ended with police.
What happens is the HC properties are sold and the occupants just rent privately in the same area with the rent subsidised by the Govt/HC.
Its the same thing, just a different way of going about it. Different Govt policy. They stay in the area
BTW: An interesting phenomenon of the Woy Woy peninsula is that a lot of people (mostly families) buy houses and live in surrounding suburbs just off the peninsula as they consider the peninsula a bit...ummm...dodgy.
We knew quite a few who moved to the area, realised it wasn't for them and sold and bought in the areas mentioned below.
They still use the facilities of the peninsula (shopping, schools, etc) but just don't want to live there.
Areas like Tascott/Point Claire, Pretty Beach/Hardies Bay, Empire Bay, The Bays (Horsefeild Bay, Woy Woy Bay, Phegans Bay) and even Patonga.
Its the same thing, just a different way of going about it. Different Govt policy. They stay in the area
BTW: An interesting phenomenon of the Woy Woy peninsula is that a lot of people (mostly families) buy houses and live in surrounding suburbs just off the peninsula as they consider the peninsula a bit...ummm...dodgy.
We knew quite a few who moved to the area, realised it wasn't for them and sold and bought in the areas mentioned below.
They still use the facilities of the peninsula (shopping, schools, etc) but just don't want to live there.
Areas like Tascott/Point Claire, Pretty Beach/Hardies Bay, Empire Bay, The Bays (Horsefeild Bay, Woy Woy Bay, Phegans Bay) and even Patonga.
Not from my experience....for example people from Western Sydney moved to the Central Coast as housing was privatised....now they are moving further North. The key is affordability.
The Dept of Housing has a policy of now spreading their housing. They are actively sourcing unit blocks or blocks to develop housing throughout Sydney. The funny thing is it could be in reasonable suburbs like Ryde. The new planning laws make is almost impossible to challenge.
So what happens over time is to have HC properties among the general population.
The other thing they are doing is subsidising the rent rather than building new stuff.
There are few properties of a decent standard now under $300pw on the CC. If you are unemployed....it makes it very difficult to rent.
Funnily enough the recent API makes a point that affordable surburbs like St Andrews, Ruse, and The Entrance have had double digit rent increases. If this continues prices will follow-up.
Whilst I appreciate that prices have been flat.....the market is cyclical and will move the in the next few year. There is just not enought supply coming through and the CC (Gosford/Woy Woy) at least is built out.
The Dept of Housing has a policy of now spreading their housing. They are actively sourcing unit blocks or blocks to develop housing throughout Sydney. The funny thing is it could be in reasonable suburbs like Ryde. The new planning laws make is almost impossible to challenge.
So what happens over time is to have HC properties among the general population.
The other thing they are doing is subsidising the rent rather than building new stuff.
There are few properties of a decent standard now under $300pw on the CC. If you are unemployed....it makes it very difficult to rent.
Funnily enough the recent API makes a point that affordable surburbs like St Andrews, Ruse, and The Entrance have had double digit rent increases. If this continues prices will follow-up.
Whilst I appreciate that prices have been flat.....the market is cyclical and will move the in the next few year. There is just not enought supply coming through and the CC (Gosford/Woy Woy) at least is built out.
Ahh, so that's where some of the dodgy ones went?
I know there are less of them out this way, but had no idea where they were going to. A few more rent rises should see more of them move to more affordable areas.
Well....it they did head to Wyong shire...whre you could stuff for $220pw but now that is getting expensive where it is more like $280pw...forget Newcastle because it is hard to get stuff under $280pw.
They are being psuhed further ....to places like Taree and Kempsey. And even here they are hard pressed because the Dept of Housing has sold up a lot of stuff there.
I was really shocked how expensive places like Gosford and Woy Woy have become for rentals...even more than some part of the Western suburbs of Sydney. Don't know whether it is sustainable...but not complaints from me at this stage.
They are being psuhed further ....to places like Taree and Kempsey. And even here they are hard pressed because the Dept of Housing has sold up a lot of stuff there.
I was really shocked how expensive places like Gosford and Woy Woy have become for rentals...even more than some part of the Western suburbs of Sydney. Don't know whether it is sustainable...but not complaints from me at this stage.
Ahh, so that's where some of the dodgy ones went?
A few more rent rises should see more of them move to more affordable areas.
LOL! Maybe Orange, Bathurst, etc. So long as they move along, I don't care where they go.
Hi All I do not post often but thought that I would give some insight to the woy woy peninsula. I came to Woy Woy from UK start of 2004. Bought 1st house (our PPR then) in Umina Beach late 2004. I have three properties here now though that was never the intention as I will explain. I bought our first IP in Woy Woy in Oct 2005. It is is on 700M2 block 3BR one garage and double car port. It was listed by agent when we first saw it at 425K and I though it would be an excellent first IP. You see it also has a fully certified 2BR house on the plot ( not a cabin or converted garage but a 'real' house with 2 BR toilet laundry lounge and kitchen. The family put it on the plot for the mother. Anyhow they had moved out and had 2 mortgages going and I got if for 350K. Now rents for 320 and 220 (540 week) and Wilsons have just valued it at $430/440K. My niece bought her first house on Boronia St last yr ( 4br and pool ,garage) for 330K. She gave it a paint job and smartened the front garden and I would say that now it is worth around $380K. There is now a 2 BR house ( no garage ) on Boronia close very close to her for $330K
I live on Burge road in Woy Woy and everthing that comes on around this area ( you know this area EVAND ) sells very quickly . Pretty much at full asking price. I was very very fortuante here as I purchased what was to be my 2nd IP. It was an auction of a massive double story brick house with water views double garage 3br house upstairs with the exact same mirror image downstairs . Right at the start of the GFC in July 08 and was a deceased estate. They obviously wanted a quick sale and I was the only bidder (then) although there were people in attendance that were interested but not prepared. Anyhow I got it for $400K (reserve 475K) and now worth well in excees of $500K. So we moved in (19 year old daughter has downstairs - 2 BR huge lounge bathroom laundyr kitchen) and rent the 4BR in Umina Beach for 420 pw
We have never had any problems in renting and we have a working couple in the Umina property. The 2 Br is rented by a young single working guy and my tenant of 4 yrs has just moved out of the 3B in December (he purchased) so painted and laid new flooring and rented no problem ( 4 decent applicants to choose from). True it is a low income area but I am sure that growth will be reasonable (of course not the suburb to seek out for the next hot spot) but for my first IP(s) it has worked well and I can now start looking futher afield in NSW (or interstate). Certainly I will not buy any more here on the Coast ( eggs in one basket and all that )
I hope that some of you do take a look here. It is a beaut area and I am sure there are some goods IPs to be had still ( especially if a "Good" dual occupancy can be had
Thanks for reading
Barry
I live on Burge road in Woy Woy and everthing that comes on around this area ( you know this area EVAND ) sells very quickly . Pretty much at full asking price. I was very very fortuante here as I purchased what was to be my 2nd IP. It was an auction of a massive double story brick house with water views double garage 3br house upstairs with the exact same mirror image downstairs . Right at the start of the GFC in July 08 and was a deceased estate. They obviously wanted a quick sale and I was the only bidder (then) although there were people in attendance that were interested but not prepared. Anyhow I got it for $400K (reserve 475K) and now worth well in excees of $500K. So we moved in (19 year old daughter has downstairs - 2 BR huge lounge bathroom laundyr kitchen) and rent the 4BR in Umina Beach for 420 pw
We have never had any problems in renting and we have a working couple in the Umina property. The 2 Br is rented by a young single working guy and my tenant of 4 yrs has just moved out of the 3B in December (he purchased) so painted and laid new flooring and rented no problem ( 4 decent applicants to choose from). True it is a low income area but I am sure that growth will be reasonable (of course not the suburb to seek out for the next hot spot) but for my first IP(s) it has worked well and I can now start looking futher afield in NSW (or interstate). Certainly I will not buy any more here on the Coast ( eggs in one basket and all that )
I hope that some of you do take a look here. It is a beaut area and I am sure there are some goods IPs to be had still ( especially if a "Good" dual occupancy can be had
Thanks for reading
Barry
Good one Bazza.....all apples in my eyes. Evand....another opinion...but slightly different you yours...
So Barry since you are watching the market...what would a reasonablr tidy 3 brm weatherboard/fobro house with 1 bath, garage, carport and back yard entertaining area be worth on 535 sqm near the Everglades Golf course be worth as a MINIMUM? Was it you I was competing against last Sat....he wsa from the UK also?? I bought mine for 264k...agents have quoted 320-340pw.
So Barry since you are watching the market...what would a reasonablr tidy 3 brm weatherboard/fobro house with 1 bath, garage, carport and back yard entertaining area be worth on 535 sqm near the Everglades Golf course be worth as a MINIMUM? Was it you I was competing against last Sat....he wsa from the UK also?? I bought mine for 264k...agents have quoted 320-340pw.
Hi Sash. That would be 66 Florida Avenue. I did not get to see the house or attend the auction sadly. The rent is on the money for a 3 bedder. I assume it needs a little TLC for rental but should rent easily and I would reckon that up together ( nice kitchen decor garden ) it would sell for low 300s. I am not pushing them but Wilsons are my property managers and I have used them in one form or another since I arrived here. Give Greg Quilkey a call for rental and Andrew Quilkey will give you an idea of its value renovated and on the market. They are good guys and will be no problem for them to look at it for you if you want
Tel 4344 2511
Keep in touch and let me know how you get on with it. I will have a drive past tomorrow and snoop arounf it.
Baz
Tel 4344 2511
Keep in touch and let me know how you get on with it. I will have a drive past tomorrow and snoop arounf it.
Baz
Sash
This one is "under offer" and is close to your place around the everglades. Was on for $329K and when it is finalised I will let you know the selling price.
There were not many photos posted (just the outside) so it would not have been anything special. Just an ideal rental as it is. Description from agent below. * note the opening 1st words!
BEAT THE RISING PRICES WITH THIS 3 BEDROOM FIBRO TILED PROPERTY SITUATED IN A POPULAR PART OF WOY WOY . SINGLE LOCK-UP GARAGE, GOOD SIZE LEVEL BLOCK OF LAND , PARK LAND SETTINGS ACROSS THE STREET WOULD MAKE A GREAT FIRST HOME OR INVESTMENT PROPERTY.
Baz
This one is "under offer" and is close to your place around the everglades. Was on for $329K and when it is finalised I will let you know the selling price.
There were not many photos posted (just the outside) so it would not have been anything special. Just an ideal rental as it is. Description from agent below. * note the opening 1st words!
BEAT THE RISING PRICES WITH THIS 3 BEDROOM FIBRO TILED PROPERTY SITUATED IN A POPULAR PART OF WOY WOY . SINGLE LOCK-UP GARAGE, GOOD SIZE LEVEL BLOCK OF LAND , PARK LAND SETTINGS ACROSS THE STREET WOULD MAKE A GREAT FIRST HOME OR INVESTMENT PROPERTY.
Baz
Yes thanks....I saw it.....does look like the Central Coast is really moving. t certainly looks like I have made about 40k after costs.
I was talking to a friend and she just bought two - in Narara and Berkeley Value.
She tells me the market is so strong that anything list of decent quality is sold within the week. There is very little new housing...you have to go to Wyong to get anything.
I was talking to a friend and she just bought two - in Narara and Berkeley Value.
She tells me the market is so strong that anything list of decent quality is sold within the week. There is very little new housing...you have to go to Wyong to get anything.
Well....finally got my val for the Woy Woy purchase....surprise...surprise ...it came in at 263.5k. I was concerned that valuer was going to under value it as in the last couple of years....a lot of the Central Coast properties did not value up to the purchase price. Some dreadful sales of substandard properties (bull dozer required) sold for 235-255k!
Though it was very interesting what he compared my properties to...a lot of them were rundown dumps!....any case I don't care as it valued up to purchase price...which indicates to me that the market is moving....
Well...time to organise the tradies to paint and tidy up...
Though it was very interesting what he compared my properties to...a lot of them were rundown dumps!....any case I don't care as it valued up to purchase price...which indicates to me that the market is moving....
Well...time to organise the tradies to paint and tidy up...
Bought and been living on the Coast for over a year now. Bit further up than most suburbs spoken of in this thread, but even up here the For Sale signs go up and down pretty fast.
It's a great place to live and rental returns are excellent (I don't have an IP yet though).
You just have to know your streets, something which thankfully worked in our favour due to luck.
It's a great place to live and rental returns are excellent (I don't have an IP yet though).
You just have to know your streets, something which thankfully worked in our favour due to luck.