Watanobbi, NSW Central Coast

[tiger]

Sydney has a tendency to make people angry and cynical

Look I am well versed with 'dodgy suburbs', I've lived in south west Sydney for 26 years. But never had a problem there and to be honest, I don't really care about the people around me. As long as they leave me and my house alone, I'm there to enjoy the relaxed and laid back lifestyle - something that is non existent in Sydney where I couldn't even drive to my local shops without having a stress attack due to traffic.

 

[sports fan]

if you hate sydney and want a cruisy coastal lifestyle there are much nicer places than the central coast check out places like nambucca hds, yamba, ballina, cabarita etc (ballina & cabirita you can commute to gold coast for work if ya keen)

the places mentioned above have much less of the bogan factor the central coast has drugs, crime, unemployment, teenage mums etc and better surf & fishing

 

[hoops]

Watanonbbi

I have owned an investment property in Watanobbi for more than 4 years, after 3 years I had enough capital in it to use for a deposit on the flat we now live in in Sydney. we still own Watanobbi and don't intend to sell it as it has great rent return, being a lower social economic area more people will traditionally rent giving good returns to investors. I looked all over the Central coast in 2006/7 and spent a lot of time inspecting potential property options and found Watanobbi best with purchase vs return ratio at mid 200 thousand. And by the way the name has been "Australianised" from a Japanese explorers name of Watanabe!

 

[sash]

Interesting thread......

What do people think of Gorokan, Haeulani (near Budgewoi), Buff Point, Lake Haven, Toukley and Charm Haven?

I understand that Lake Haven has a large shopping centre which services the area.....though it is not the best of areas (low income).

Yesterdays paper indicated that Toukley is a real goer from a investing perspective.

 

[tess85]

Which paper Sash? And did they say why?

We have one in Kanwal (thanks to Prop). House + GF setup, so very decent yield, but it's true the area's demographics are not that great, we had trouble finding tenants. The current ones are on welfare, that's the best of the ones who applied for the place.

 

[sash]

There was a lift out in the Sunday Telegraph...

I article covered the Central Coast, Hunter and Newcastle.

It mentions that the lack of affordability is driving people to the Central Coast and the Hunter.

Incidently...what did you pay for the place in Kanwal and what sort of yield are you getting?

Which paper Sash? And did they say why?

We have one in Kanwal (thanks to Prop). House + GF setup, so very decent yield, but it's true the area's demographics are not that great, we had trouble finding tenants. The current ones are on welfare, that's the best of the ones who applied for the place.

 

[sash]

Had a look....most places sell for about 250-280 and you get a yield of 260-320pw....so about a 5-5.5% return. So not great.

What sort of returns are you getting??

I have owned an investment property in Watanobbi for more than 4 years, after 3 years I had enough capital in it to use for a deposit on the flat we now live in in Sydney. we still own Watanobbi and don't intend to sell it as it has great rent return, being a lower social economic area more people will traditionally rent giving good returns to investors. I looked all over the Central coast in 2006/7 and spent a lot of time inspecting potential property options and found Watanobbi best with purchase vs return ratio at mid 200 thousand. And by the way the name has been "Australianised" from a Japanese explorers name of Watanabe!

 

[nww]

There was a lift out in the Sunday Telegraph...

I article covered the Central Coast, Hunter and Newcastle.

It mentions that the lack of affordability is driving people to the Central Coast and the Hunter.

Incidently...what did you pay for the place in Kanwal and what sort of yield are you getting?

Interesting the local express advocate recently had a front page feature of tenants
moving back to Sydney as there was no rentals available and the ones that
do come on the market for rent are to high for them to afford.

In the process of re renting one on the CC and have had 30 applicants.

 

[tess85]

There was a lift out in the Sunday Telegraph...

Oh, I thought you meant a real newspaper

We paid sub 300k and the yield was 8.5% when we bought it early last year. We're trying to put the rent up 5%, if that goes through the yield will be 9% based on the purchase price.

Certainly it's quite an affordable area and it's reasonably close to the lake and beaches, which will always appeal to people and Sydneysiders moving out of the rat race.

 

[sash]

The agents up there are telling me riff raff are moving further north as they can't afford the rents in Wyong any longer. Had a look at Watanobbi....very rough in some parts!

Interesting the local express advocate recently had a front page feature of tenants
moving back to Sydney as there was no rentals available and the ones that
do come on the market for rent are to high for them to afford.

In the process of re renting one on the CC and have had 30 applicants.

That is a pretty good yield.....getting that sort of yield will be hard to match!!
The ones I looking at are yielding 5-6% which does not even cover the mortgage.

Is sub 300k something like 250-260k??

Oh, I thought you meant a real newspaper

We paid sub 300k and the yield was 8.5% when we bought it early last year. We're trying to put the rent up 5%, if that goes through the yield will be 9% based on the purchase price.

Certainly it's quite an affordable area and it's reasonably close to the lake and beaches, which will always appeal to people and Sydneysiders moving out of the rat race.

 

[jsoe]

care to update?

this is a very old thread.. which makes it very interesting.

would previous SS users please be kind to update us with how your IPs have performed so far?
Tiger? how did your IP go in Central Coast? Polsator? Aimjoy? hilly1981?
I'm very interested in how CG has tracked in those areas after your discussion here.
Have you guys been seeing more developments around the region compared to 2008?

thanks heaps!

 

[ree1957]

Watanobbi NSW

Have read some earlier comments on the suburb.... has it changed any?

Does anyone know if this is where the proposed second airport is to be located

Tks

 

[nww]

Have read some earlier comments on the suburb.... has it changed any?

Does anyone know if this is where the proposed second airport is to be located

Tks

I think you might be referring to an upgrade of Warnervale aerodrome years ago
which Wattnobbi was in the flight path but council backed away from that.
Has been some recent talk about Somersby (Gosford heights) for secound
airport but can't see that myself.

As for Watanobbi it is changing there are some nice homes over the ridge towards
the freeway in the newer estates now.
They also have the North Wyong industrial estate improving with new big BP
servo and KFC and subway opposite the golf club which has also had a facelift.
I think the whole area is just waiting for the next upswing.
Don't have anything there myself.

 

[ali]

When we were looking in Watanobbi a few months ago you could get a really nice renovated brick house with 7%+ yield. Decided not to buy there because despite it's proximity to the freeway, you can't access it very quickly or easy, especially in peak hour traffic. Decided to buy closer to the proposed Warnervale town centre , business park off sparkes road and the water. I believe they are selling the housing commission stock in Wattanobi and there are new subdivisions and a community centre being built so it should improve with time.
Cheers, Ali

 

[sash]

Bought a newish townhouse in Wattanobbbi this year for 232k....getting 340pw in rent.

 

[RealBus]

What are peoples thought about Berkeley Vale for IP ?

Hi I was curious to findout more about Berkeley Vale seemed to be well located within close proximity to the Entrance etc. rent returns appear to be strong, was interested in anyone thoughts ?

 

[sash]

Still have the Watanobbi Townhouse....a quick bank valuation put it at 275k. So in real terms it is probably worth 285-295k...up from the 232.5 I bought in 2011.

The rents have been increased to 350pw...with another one due to take it to 360pw. The real pearler was the 9k in depreciation in the first year!!

 

[nww]

Still have the Watanobbi Townhouse....a quick bank valuation put it at 275k. So in real terms it is probably worth 285-295k...up from the 232.5 I bought in 2011.

The rents have been increased to 350pw...with another one due to take it to 360pw. The real pearler was the 9k in depreciation in the first year!!

3 bedders are closer to the $300,000 mark of late but whether they get
them Im not sure.
What I can't work out is why townhouses in Watanobbi are now dearer
than Mardi, would prefer Mardi over Watanobbi to live myself.

As for Berkley Vale the only off putting thing is the peak hour traffic which
would be classed as horrific for the CC but a walk in the park for Sydneysiders.
Two places you can find some good deals on the coast from time to time
is Berkley Vale and Bluehaven and this is usually due to mortgage stress which
seems to come with both area's

 

[sash]

Don't know aobut the 300k for the second hand stock of T/H in Watanobbi. I see them in the high 200s....stuff over 300k is not selling as quick.

I know why the Mardi townhouses are cheaper....they are specific to the ones with atrocious strata rates as they have a pool, tennis courts. I think the 2 bedders have a $750+/qtr strata fee.

Any thing with a reasonable stata fee ...i.e. less than $500/qtr goes fast.

3 bedders are closer to the $300,000 mark of late but whether they get
them Im not sure.
What I can't work out is why townhouses in Watanobbi are now dearer
than Mardi, would prefer Mardi over Watanobbi to live myself.

As for Berkley Vale the only off putting thing is the peak hour traffic which
would be classed as horrific for the CC but a walk in the park for Sydneysiders.
Two places you can find some good deals on the coast from time to time
is Berkley Vale and Bluehaven and this is usually due to mortgage stress which
seems to come with both area's

 

[nww]

Hi I was curious to findout more about Berkeley Vale seemed to be well located within close proximity to the Entrance etc. rent returns appear to be strong, was interested in anyone thoughts ?

This has just come from the property observer and Berkley Vale is at the
top of the RP data list. Mardi and Wyong is up there as well.
Cheaper to buy than rent.

http://www.propertyobserver.com.au/...6d69-August_29_20124_10_2012&utm_medium=email

Rp data link, then click on the top 10 suburbs.

http://www.myrp.com.au/buyorrent