I have been looking around the Gosford CBD area for an IP. Does anyone have any thoughts on this area or around the central coast NSW? I heard there are some areas to stay away from like Wyoming and Woy Woy. Have a budget of around around $300K or just a tad over. I saw a few nice 3br units at The Sanctuary but Strata is quite excessive, reducing the net returns significantly.
Thoughts on Gosford/Central Coast areas
- Thread starter Rygor
- Start date
G'day Rygor,
Sorry i can't help you out as such but i have lived for a short time in Gosford,like 20yrs ago.
Personally i like Tascott,Point Claire etc.
Anyhow use the search function above.
Here's a link to read up on a few threads:
http://somersoft.com/forums/search.php?searchid=8171997
Cheers Spades.
Sorry i can't help you out as such but i have lived for a short time in Gosford,like 20yrs ago.
Personally i like Tascott,Point Claire etc.
Anyhow use the search function above.
Here's a link to read up on a few threads:
http://somersoft.com/forums/search.php?searchid=8171997
Cheers Spades.
Rygor is right there are a few threads that we have had numerous discussions on.
There are areas within suburbs that I would stay away from.
Small pockets around Wyoming, Springfield and Niagara Park.
But generally these are the housing commission areas. A lot of these have been sold off to private investors in recent years. So it isn't so much as block of housing commission anymore.
NSW dept of housing have tried to spread housing commission through suburbs so the impact is not creating ghettos or run down zones.
I purchased property in the area a year or so ago. We bought a stand alone house though, I'm not as up to date on the units. But you may get 2/3 bedroom unit in small boutique apartment complexes in East Gosford, which is a very nice area.
We were able to get an older 3 bedder on corner block in Narara for $295k which rents for 400 per week. We did have to spend 7k fixing few things up, but had allowed for that.
Over the coming next few years there should be a number of projects that really help to revitalise the Central Coast and in particular areas like Gosford and in the north around Wadalba.
There are not many places where you can get coastal towns within an hour of Sydney for $350-400k for houses with 5-6% rental yields.
Some good threads though that also detail which areas to stay away from.
I recommend 2 bed room units in Gosford which you can buy for 240k or less which rent for 310 per week. Not much capital gain but unlikely to have loss. Usually low strata as well. But currently there is a lot of interest in whether there will be significant developments to the Gosford waterfront which could potentially push prices up significantly.
Did you buy all of these, none showing up on RE.com
They sell the day they are listed on re.com. If you look under the sold section of re.com, you will see them.
Had this on my watch list for some time , took a while to sell , under value for weekly rental may have spooked some , going by the close proximity to hospital should have had a much higher rental.
http://www.realestate.com.au/property-house-nsw-gosford-116645751
This one at Wyong also took a while to sell and was a good buy.
http://www.realestate.com.au/property-house-nsw-wyong-116999899
This one sold same day sight unseen , deposit received in cash transfer.
offers over $199000.
Again way under market value for both especially rental return.
Limited units in this area and very close to Lake and Beach, could easily rent for over $310
http://www.realestate.com.au/property-house-nsw-lake+munmorah-117330567
http://www.realestate.com.au/property-house-nsw-gosford-116645751
This one at Wyong also took a while to sell and was a good buy.
http://www.realestate.com.au/property-house-nsw-wyong-116999899
This one sold same day sight unseen , deposit received in cash transfer.
offers over $199000.
Again way under market value for both especially rental return.
Limited units in this area and very close to Lake and Beach, could easily rent for over $310
http://www.realestate.com.au/property-house-nsw-lake+munmorah-117330567
