Hi AllGood
Good to hear that you are ready to go again. I think you won't go past a dual occupancy in the area. We're Sydney (north) based investors so the trip takes us close to 2 hours. We're spending couple of days after Christmas at our place there and have friends coming through, we intend to explore the area a bit more.
I actually bought off the bat from a recommendation received at a Right Group meeting (they are a Sydney based buyer's agency) and they are buying in Wollongong given that the yields are still good as compared to Sydney.
Like I said in a previous post, our friends (Syd investors) bought in Warrawong round the corner from us. Theirs is a 3 bedroom home with a 2 bed granny flat and similar yields to ours.
So keep looking - something will pop up soon.
Milkezen - the saying 'buy straw hats in winter' would definitely hold true for the Gong. I was speaking to the neighbours at Lake Heights who bought a similar property to ours only in May 2013 for $35,000 less that what we paid, so the deals would have surely been better then but I think there's still room for movement.