Hi all, just wanted to know your views on the potential for capital growth in this area? And if any one has any experiences here, please do share? Just wanted your thoughts.
YOUR VIEWS? NSW- South Coast- suburbs on Jervis Bay
- Thread starter BestInvest
- Start date
Never invested there, but lived in the region for 13 years. IMO I don't see too much potential. Most people who move to the south coast these days are sea changers and retirees from Sydney. Unemployment is higher than average and you'd be travelling about half an hour to Nowra for any decent shopping facilities.
Sure, you may occasionally get small towns a bit further north like Callala Bay that will have a brief capital growth spurt, but that is uncommon. Growth has been fairly flat in the region for a number of years.
With the increasing numbers of holidaymakers heading to the south coast in recent years, I think the area would have more potential for investing in holiday accommodation.
Sure, you may occasionally get small towns a bit further north like Callala Bay that will have a brief capital growth spurt, but that is uncommon. Growth has been fairly flat in the region for a number of years.
With the increasing numbers of holidaymakers heading to the south coast in recent years, I think the area would have more potential for investing in holiday accommodation.
My sis has a weekender in Currarong.
Sleepy little place.........used to go there for hols like 30 years ago.
Cap gain has been ok, but nothing special.
Long term rental is a pretty so so............
And that means that Residex is picking it for a 10 % er over the next 5 to 8 years.
Obviously, any predicitive report cant be taken out of isolation!
ta
rolf
Sleepy little place.........used to go there for hols like 30 years ago.
Cap gain has been ok, but nothing special.
Long term rental is a pretty so so............
And that means that Residex is picking it for a 10 % er over the next 5 to 8 years.
Obviously, any predicitive report cant be taken out of isolation!
ta
rolf
I know over the last couple of years state govt or council (not sure which - would have thought state but locals keep telling me council) is purchasing more and more housing in Callala Bay area for public housing. Crime is a big issue in the area not in so much of itself but that response from the overwhelmed police force there can be rather sparse (direct from local bottlo owner at the bay shops).
It is a gorgeous area there though. Love our business trips down there every year!
It is a gorgeous area there though. Love our business trips down there every year!
Probably neither but in reality both, even the Commonwealth to some degree, through funding streams, grants and concessions. The biggest supplier of low income housing in the region seems to be the "Shoalhaven Community Housing Scheme" who buy/build in all regions of the Shoalhaven. NSW Housing Commission still have their estates but all the new builds in new estates seem to be from the Community Housing not Council or Government.
I have one next door to my IP in Worrigee and at first the tenant was great and no hassles but moved out and now its a party house for all the local deliquents. Told my tenant to ring Police when they are impacted or write to PM so I can take some action if required. Seems to have settled down of late but fingers crossed.
Thanks for all the replies, please keep them coming. I cant do a lengthy reply atm as im restricted on my mobile. The Vincentia shop development wont benefit myola, callala or currarong etc as the dam creek cuts us off. I bought a brick house 1 street back at callala beach, bought on a whim as i reckon CG in coming yrs will be good as people can buy houses for their super and retirees are increasing so theyd want to be near water, norrth coast is already populated... And if i want to holiday let the demand for this will similarly increase...
The housing commission is mainly at worrigee, not so much in the suburbs closer to the water. I've posted elsewhere on SS re plans to build a granny, so i can exploit holiday and permanent letting at the same time, just waiting on things to settle a bit. There has also been plans floating to build a marina at callala bay-project 2020, 'IF' that happens then they may connect a bridge of currambene creek so the rish boaters can moor their boat and achieve the necessary volume... My instinct anyway.... Which will mean the area will be the next port stephens, only time will tell i guess...
