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Central Coast Long term investment

Discussion in 'Where to Buy' started by Macinvest, 2nd Sep, 2016.

  1. Macinvest

    Macinvest New Member

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    Hi Im looking to buy an investment property in Central Coast with long term view to retire there perhaps in 15-20 years time. Any ideas which areas would have good capital growth and good rental potential? I would prefer a property with water views. Cheers.
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    I would rule out the following areas:
    Wyoming, Kariong, Narara, Erina, North Gosford, Mangrove Mountain, Niagara Park, Ourimbah and Glenning Valley.

    Have a look at a map or go for a drive.
     
  3. Brian84

    Brian84 Well-Known Member

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    I would look at Budgewoi, Lake Haven, Mannering park, summerland point, lake munmorah lake haven
     
  4. Daniel007

    Daniel007 Well-Known Member

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    Woywoy and Umina Beach considering their accessibility to Sydney with the train line.

    The volume of people commuting to Sydney for work is only going to increase long term when people realise they can live near the beach for similar/cheaper than the equivalent in western sydney. From what i remember, Woywoy to townhall station was was about 65 minutes?
     
  5. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    With a 15+ year time horizon, almost anywhere with waterviews and some amenity is going to experience CG and RY. I first purchased a H&L in Erina for $69K many years ago, that would be worth $550K now, if I hadn't sold it at a profit for $117K only 2 yeas after that! :oops:

    Have a drive around and make a short-list of suburbs you like and post back here for comments about what to avoid in those areas.
     
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  6. Phar Lap

    Phar Lap Well-Known Member

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    Yield with water views at the moment will not be great, (if ever?)

    Suggest somewhere like Killarney Vale, Berkeley Vale, Green Point, saratoga, type of suburbs that are on the inland waterways will be cheaper and more likely rentable longer term, but maybe a block just back from the water.
    Situated with ocean views does pose long term problems like salt degradation of the buildings etc.

    Many "less desirable" (depends on who you are) suburbs have over the years becoming gentrified/upgraded.

    best advice is to spend quite a bit of time driving around looking which will also give you a good indication of transport and all its pros & cons.
     
  7. larrylarry

    larrylarry Well-Known Member

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    Berkeley Vale has moved a lot since mid 2015...especially those with GF or potential GF.
     
  8. montoya

    montoya Well-Known Member

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    I'm surprised no one has mentioned Point Clare and Tascott. Close proximity to Gosford, train line and water views.

    Then of course there's a little further north in places like Berkeley Vale and Chittaway Point
     
  9. Scott No Mates

    Scott No Mates Well-Known Member

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    IIRC - Berkeley Vale was God's waiting room. Maybe there are some vacancies ;)
     
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  10. Phar Lap

    Phar Lap Well-Known Member

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    Such a ridiculous and totally inaccurate post.
     
  11. Scott No Mates

    Scott No Mates Well-Known Member

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    When my stomping ground was the central coast, this was what the area was referred to as by tbe locals.

    The manager of the Ettalong WMC had summed up the market quite accurately: 5-18: Nippers/youth club; 18-late 20s: partying/dating/marrying, late 20s- mid 30s parenting, 30's onwards back for nippers and adult club activities eg golf/tennis/fishing etc, retirees - plenty of time on their hands/pokies etc
     
  12. Phar Lap

    Phar Lap Well-Known Member

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    Funny that, it's totally not what the locals were referring to when it was my stomping ground. From 1990 to now that is.
    Your reasoning above makes no sense either and does not support your original comment. It sounds like you have some sort of grief with Berkeley Vale in particular ?
    How about contributing to the thread in a more meaningful way.
    Gods waiting room is such an erroneous and ridiculous statement full stop.
     
  13. fumid

    fumid Well-Known Member

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    I was surprised no one mention Terrigal, Avoca, Umina, Ettalong beach, which is kinda of best suburb in Central coast and lost of million dollars house also can find some around 600K if you lucky, never goes wrong in this area.
     
  14. Brian84

    Brian84 Well-Known Member

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    What about woy woy and Towoon bay
     
  15. dan2101

    dan2101 Well-Known Member

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    Not sure whether you've missed the boat but long jetty is extremely popular at the moment. Purchased in long jetty about 6 months ago and have been monitoring auctions since and it's pretty popular. Heaps of trendy new coffee shops and gyms popping up. Close to the beach or the lake is more desirable. Middle section some streets seem a bit ghetto. @Propertunity might know more.
     
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  16. bmc

    bmc Well-Known Member

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    @dan2101 choose wisely re long jetty. tuggerah lake long jetty floods. in 2007 the water was halfway up to the entrance road
     
  17. dan2101

    dan2101 Well-Known Member

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    Cheers @bmc we purchased in Anzac road on an R3 block that we are subdividing. Bottom 2m of block is flood prone but we won't be building down that far. The area is doing well but might be a bit late now it's gone up heaps over the past 2 years. Still some good buys in Killarney vale in my opinion.
     
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  18. beertank23

    beertank23 Well-Known Member

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    I just bought and did a reno for an IP on central coast, inbox me and I'll tell you what's up. FWIW where I bought, on the Wyong river, I had it advertised for rent for 10 days and had 1 enquiry. Seemed pretty flat, there's lots of investor housing stock in the greenfield estates around Wyong.
     
  19. RenegadeDom

    RenegadeDom Well-Known Member

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    Bateau Bay is a nice spot, look for a place on the hill and you'll get views of terrigal beach, the expansive valley or the lake on the other side.
     
  20. larrylarry

    larrylarry Well-Known Member

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    What's the view worth?