Hi, i posted about my purchase on callala beach last week, wanted more discussion from people out there. What do u think about the suburbs on jervis bay? My thinking tells me that since people can buy now in their super name, they will start to look at buying holiday houses for their impending retirement (plus with gfc they are turned off shares) so prices will go up. North coast is already to expensive. Your views and critique of this?
Your thoughts..,Jervis Bay NSW
- Thread starter BestInvest
- Start date
South coast is nice, but growth is very slow and its very hard to sell. I've been in Jervis Bay a month ago, i noticed that there are many properties on the market, i stayed in Century point and in that street 90% of the houses were for sale, it was really funy to see all the for sale signs everywhere.
Those areas are far from large cities and there is no jobs there, be carefull.
Those areas are far from large cities and there is no jobs there, be carefull.
Thanks Jamie and veseli,
I agree with both of you...my experience so far is exactly that. Im struggling to rent out, im expecting a yield of 4 to 4.2% as a permanent rental. Due to employment, and it being a holiday destination, it makes rental harder, (but not necessarily impossible). Holding costs are burdensome.
The fact that canberians love this place, and the nerriga to nowra highway has cut the trip by some time should increase the holiday attractiveness of this area for the years to come.
It is true about the number of properties on the market, i think its just a sign of the times. My house is in a really good spot though, 1 street back from the waters edge on a 800 square block. Im hoping that since super laws allow you to buy in your super name, more and more people burnt form shares (gfc crisi) will look to buy in these areas with their super funds SMSF's once they get back onto their feet)... so pumping up the demand. Austrailas baby boomers are reaching retirement age now at a level unprecedented, and the coastal property area is one area one would think thy would flock to.
I want to in the next few years make my block dual occupancy (2 x 400 squares), and place a relocatable home in the rear (about $60k for the expandable ones on wheels that look like granny flats), and do it as a battle axe, rent the back as permanent, and the front house as holiday (or maybe permanent too). Under this scenario, both rents would make the property cash flow neutral. This is what motivated me to buy there and to look beyond the current pain of trying to rent it out and holding costs. Im thinking long term (and by spending an additional $60k which i will have in next 4 years making the whole property cash flow neutral, throwing away the key and letting it pay itself off). Interested to hear your further views on this.
Cheers,
Best Invest
I agree with both of you...my experience so far is exactly that. Im struggling to rent out, im expecting a yield of 4 to 4.2% as a permanent rental. Due to employment, and it being a holiday destination, it makes rental harder, (but not necessarily impossible). Holding costs are burdensome.
The fact that canberians love this place, and the nerriga to nowra highway has cut the trip by some time should increase the holiday attractiveness of this area for the years to come.
It is true about the number of properties on the market, i think its just a sign of the times. My house is in a really good spot though, 1 street back from the waters edge on a 800 square block. Im hoping that since super laws allow you to buy in your super name, more and more people burnt form shares (gfc crisi) will look to buy in these areas with their super funds SMSF's once they get back onto their feet)... so pumping up the demand. Austrailas baby boomers are reaching retirement age now at a level unprecedented, and the coastal property area is one area one would think thy would flock to.
I want to in the next few years make my block dual occupancy (2 x 400 squares), and place a relocatable home in the rear (about $60k for the expandable ones on wheels that look like granny flats), and do it as a battle axe, rent the back as permanent, and the front house as holiday (or maybe permanent too). Under this scenario, both rents would make the property cash flow neutral. This is what motivated me to buy there and to look beyond the current pain of trying to rent it out and holding costs. Im thinking long term (and by spending an additional $60k which i will have in next 4 years making the whole property cash flow neutral, throwing away the key and letting it pay itself off). Interested to hear your further views on this.
Cheers,
Best Invest
