NSW Anyone own any properties in Nowra?

Discussion in 'Where to Buy' started by markson, 12th Mar, 2016.

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  1. markson

    markson Well-Known Member

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    Hi Everyone,

    I have been looking a bit at Nowra lately. Growth seems good (ripple from Sydney), low vacancy rate of 1.2% and a good rental yield of 6%+

    Can anyone recommend a property manager in the area? Also if you have a property in Nowra are you happy with the vacancy? Does it reflect the stats?

    Screen Shot 2016-03-12 at 6.29.30 pm.png
     
  2. wombat777

    wombat777 Well-Known Member

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    @markson what service are the stats from? You posted similar stats in another thread on Lithgow.
     
  3. markson

    markson Well-Known Member

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    Residex and SQM

    Yes seems similar to Lithgow that's why I was looking at it. Outer areas getting the ripple from Sydney. Cheap buy in price low vacancy and good yield.

    I am still learning the ropes so feel free to correct me or offer advice.
     
  4. New Town

    New Town Well-Known Member

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    All I see from those graphs is that huge growth has already occurred. Ie missed the boat unless you want to lose money
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    @markson
    • What's behind the growth?
    • Are there sufficient sales & leasing of 'new' housing estates/units to skew the results?
    • What are the normal number of sales in the area?
    • Are the number of sales up?

    Ie are the stats sufficiently robust to be accurate? (A project that drops 25 new home units in an area is often enough to skew the stats in areas with few sales, this can be repeated with a few similar projects over a couple of successive years then you will see a normalisation of the market when no new stock is being developed.
     
  6. Chilliblue

    Chilliblue Well-Known Member

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    Yes I have some investments in Nowra and they are doing nicely thank you.

    The ripple is passing through and whilst prices have increased, there still is the opportunity to buy something - pretty much like any market.

    Never had a problem with tenants but I was pretty selective what and where I purchased - like an good investor.

    If you want the answers to @Scott No Mates questions take a look at NSW Govt Planning & Environment: Illawarra Shoalhaven Regional Plan
     
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  7. markson

    markson Well-Known Member

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    Thanks @Chilliblue i appreciate the info. Was hoping to find something local rather than chasing the Brisbane bandwagon but there doesn't seem to be as much "hype" compared to Brisbane.
     
  8. Timwest

    Timwest Well-Known Member

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    @markson I'm in the same boat, planning where to buy my first IP im from Wollongong. I eventually narrowed it down to Shoalhaven area or South Brissy. Think im going with Shoalhaven mainly due to having easy access to the property and having good knowledge of the area.
     
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  9. Chilliblue

    Chilliblue Well-Known Member

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    Sometimes it good not to follow the pack @markson and @Timwest but create your own path
     
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  10. markson

    markson Well-Known Member

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    Thanks @Chilliblue will keep an eye on the figures and try not to drive myself (or my wife) insane.

    @Timwest seems like we are on the same path. Would be good to chat on PM and talk areas
     
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  11. Azazel

    Azazel Well-Known Member

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  12. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    @Chilliblue and @Azazel have posted some good links. Definitely potential in Nowra but new investors to the area should be careful about location given there are huge differentials in parts of town. @markson feel free to message me if you want to have a conversation about property managers its not a 1 liner.
     
  13. JKWS

    JKWS Well-Known Member

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    I know the area well!

    It's a solid investment still, the growth will slow but I don't see it grinding to a stop just yet. As mentioned above, pick your areas (even within Nowra itself).

    It's being pushed along with massive government investment, new jail, massive 300 million dollar upgrade to the naval base and the new bypass stops in Nowra/ due for completion in the next few years. Making it just under 2 hours from Sydney and 2.5 hours to Canberra.

    Affordable and surrounded by beautiful areas- Stockland has large holdings down that part of the world.. If your not completely sure if it's the right move yet, wait for them to start spending money and jump in early then :)

    Downside, this is the first lot of growth we've seen in 10 years... Once this little splurge is over... Well who knows, history might repeate.
     
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  14. markson

    markson Well-Known Member

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    Thanks @BuyersAgent i will send you a PM

    Thanks for the info @JKWS i appreciate it.
     
  15. Anne-

    Anne- Member

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    Hi Tim
    What have you bought finally?
     
  16. Drgonzo

    Drgonzo Well-Known Member

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    2 hours from Sydney is probably stretching it a bit.
     
  17. Azazel

    Azazel Well-Known Member

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    It's pretty spot on.
    We often drive from Sydney through Nowra to Jervis Bay, only another 30 minutes past Nowra. Total drive is 2.5hours if you don't get stuck in traffic.
     
  18. Drgonzo

    Drgonzo Well-Known Member

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    Or if it happens to be a Friday
     
  19. Azazel

    Azazel Well-Known Member

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    Yeah, if you get away after 5pm from Sydney you're probably going to have a bad time.
    It's much better now they've finished most of the upgrades South of Kiama and South of Nowra. The Berry bypass will make a bit of a difference too.
     
  20. Anne-

    Anne- Member

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    I don't understand, VR in Nowra is low, but when you look at rentals available, the number of 'avail now' or yesterday on the market is high to my feeling