Join Australia's most dynamic and respected property investment community

NSW Anyone own any properties in Nowra?

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

Tags:
  1. markson

    markson Well-Known Member

    Joined:
    14th Feb, 2016
    Posts:
    310
    Location:
    NSW
    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 Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,436
    Location:
    33°41'24.7"S 150°55'34.3"E
    @markson what service are the stats from? You posted similar stats in another thread on Lithgow.
     
  3. markson

    markson Well-Known Member

    Joined:
    14th Feb, 2016
    Posts:
    310
    Location:
    NSW
    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

    Joined:
    8th Sep, 2015
    Posts:
    96
    Location:
    QLD & NSW
    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

    Joined:
    18th Jun, 2015
    Posts:
    5,563
    Location:
    Sydney or NSW or Australia
    @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

    Joined:
    18th Jun, 2015
    Posts:
    1,579
    Location:
    Australia
    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
     
    Scott No Mates likes this.
  7. markson

    markson Well-Known Member

    Joined:
    14th Feb, 2016
    Posts:
    310
    Location:
    NSW
    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

    Joined:
    11th Feb, 2016
    Posts:
    108
    Location:
    Sydney/Wollongong
    @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.
     
    markson likes this.
  9. Chilliblue

    Chilliblue Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,579
    Location:
    Australia
    Sometimes it good not to follow the pack @markson and @Timwest but create your own path
     
    Toon, markson, samiam and 2 others like this.
  10. markson

    markson Well-Known Member

    Joined:
    14th Feb, 2016
    Posts:
    310
    Location:
    NSW
    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
     
    Timwest likes this.
  11. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    markson likes this.
  12. BuyersAgent

    BuyersAgent Well-Known Member Business Member

    Joined:
    19th Jun, 2015
    Posts:
    436
    Location:
    Oz
    @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

    Joined:
    25th Jul, 2015
    Posts:
    66
    Location:
    Australia
    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.
     
    Timwest likes this.
  14. markson

    markson Well-Known Member

    Joined:
    14th Feb, 2016
    Posts:
    310
    Location:
    NSW
    Thanks @BuyersAgent i will send you a PM

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

    Anne- Member

    Joined:
    14th Sep, 2016
    Posts:
    10
    Location:
    Sydney
    Hi Tim
    What have you bought finally?
     
  16. Drgonzo

    Drgonzo Well-Known Member

    Joined:
    30th Jun, 2015
    Posts:
    183
    Location:
    Berry NSW
    2 hours from Sydney is probably stretching it a bit.
     
  17. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    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

    Joined:
    30th Jun, 2015
    Posts:
    183
    Location:
    Berry NSW
    Or if it happens to be a Friday
     
  19. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    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

    Joined:
    14th Sep, 2016
    Posts:
    10
    Location:
    Sydney
    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