Thoughts on Wyong Nsw?

You have missed out in some recent gains , old 2 bedder units sell quick now
up to 240,000 , lots of new smaller unit development around the central area
in OTP starting to show up.

Depends on what you call Wyong , Mardi , Watannobi (north Wyong) was
always referred as Wyong in the old days.

Eatons Chinese theme park is his way to get himself in the paper all the time
so he can get elected again , I really don't see it happening, he's been talking
about it for over 10 years now.

Also be aware of rates in the WSC area , been some massive increases and is said more to come
from the silly spending the council has been undertaking.

http://www.theherald.com.au/story/2895987/staff-vote-against-mayor-gm/?cs=305

http://www.theherald.com.au/story/2840067/wyong-mayor-gets-order-of-australia/?cs=305
 
Some big Chinese theme park planned in Warnervale apparently http://www.wyong.nsw.gov.au/for-business/chinese-theme-park-warnervale

Cons: lower socio-economic area, most of my tenants have been single mums on Centrepay etc.

I am ambivalent about Wyong & surrounds. It's the only place that I had to put in an insurance claim for when my IP's TV aerial got nicked. (who does that, seriously?)
Thanks guys. Yea i wonder if the Chinese theme park proceeds weather the area will gain much Capital Growth. I also heard plans for a regional airport. We will just have to see. Thanks for rhe info guys!
 
Up there the other day, lots of development happening around warnervale and more to come..plenty of land ! Demographic consists of a lot of tatts, tap out clobber and single mums.
 
Oooiii....you are talking about my tenants! ;)

No different to Mt Druie....Bogans galore.....they refer to centrelink payments as "me paayy"

Up there the other day, lots of development happening around warnervale and more to come..plenty of land ! Demographic consists of a lot of tatts, tap out clobber and single mums.
 
Our IP in Gorokan (south side, the nice side) had 10 applicants after the first open and went for $50 above the agencies estimate.

Like most suburbs there are good streets and bad streets. We did a quick reno to attract a better quality tenant, and it did wonders for our bank val.

Are there any bargains left? Hard to say...

More important than some crazy Chinese theme park is north warnervale train station and possibly a uni campus in the area.
 
I went to open house today at a few properties on the central coast around Montoya area and nearly everything is already under contract. The ones that weren't are asking to much for what it's worth. We went to one house that was under contract for I believe 330k and the house needed to be rebuilt pretty much and it stunk really bad like their was a dead animal in there.
 
Quite a few of my Mt Druitt patients moved to certain areas on the Central Coast . San Remo used to have worst reputation.

Given its location , waterways , close proximity to sydney , you'd have to think it will go well , but I know the areas we know about have already moved to a degree .

Cliff
 
I also drove past a couple for sale in San remo today but locked the doors and kept driving lol.

You realise that was opportunity you drove past ...

To quote sir Humphrey , it may be a dung heap , but " dung heaps grow beautiful roses " ......

Cliff
 
Not my kind of opportunity for my first investment property. If you have seen the kind of people in the street you would know the kind of people it would attract to be the tenant, I don't want to be fixing holes in the wall every week.
 
Not my kind of opportunity for my first investment property. If you have seen the kind of people in the street you would know the kind of people it would attract to be the tenant, I don't want to be fixing holes in the wall every week.

You work with your real estate property manager and this should not happen.

I make it very clear to my property managers to leave the place vacant until
they find the right tenant that they know. Sure not going to work for everyone
if your on a tight strategy.

Never had any issues since my first purchase in 1992.

Been a few great buys here the last 12 months but investors back in San Remo
pushing prices back up.
Agents screaming for listings north of Tuggerah.
 
I know a few (normal) young families from Syd who have moved to the Central Coast (not sure where exactly) because they needed to upsize and couldn't afford in Sydney. They commute to Sydney and / or work from home.
I wonder if this will become a trend over time as Sydney becomes less affordable.
 
I have one in Watanobbi...bought in 2012 for 236k...now rents for $370pw!

Same tenant for over 2 years.....no dramas

I know a few (normal) young families from Syd who have moved to the Central Coast (not sure where exactly) because they needed to upsize and couldn't afford in Sydney. They commute to Sydney and / or work from home.
I wonder if this will become a trend over time as Sydney becomes less affordable.
 
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