NSW Central Coast Long term investment

Bateau bay, shelly beach, long jetty and Towoon bay are all nice areas. Parents just moved out of Sydney to settle in bateau bay. Very popular east of the entrance road and prices have increased heaps the past year. Long jetty used to be considered a bit ghetto by locals but is definitely gentrifying. There was an article recently saying it was the Newtown of the central coast. I think all these areas will do well long term being an hour north of Sydney.

 

It's really worth whatever someone is willing to pay for it. It's what sold me on the property as the house itself is pretty small and was dated. I've recently done a cosmetic reno on it (new kitchen, painting, lights etc). That was always the plan when I first bought the place, the view was the drawcard and whatever I did to the dwelling would just add to it. I've now got plans to add a driveway as it doesn't have one and maybe a carport to dress the front up a bit. This should again see some equity gains. Later down the track I may extend upstairs to take full advantage of the view, prepping for my retirement days, but that's quite a while off haha

 

Hey mate im originally from the central coast but living in melbs atm. I just recently purchased a ip in Killarney a good size block on lake side of main road and close to shops there so will look to build new house at rear of property in a little while. I'm interested in a big block of land around long jetty hopefully something over 800sm so I can build two dwellings at year of front property . How much did you get land for I'm tossing up between investing in a inner west suburb of melbs for around 750k for a good town house or use the same money to get a block of land with home around long jetty that I can develop

 

Hey @Connor29 we paid $590k for 950ish sqm. Existing house at top of block will be kept and building a hotondo home at bottom of block and subdividing.

 

Hey mate, what suburb? I'm looking for a property in the new year to battle axe and rent out.

 

Long jetty @beertank23

 

I'm also looking at a long term investment in the Central Coast. Gosford would be my first choice but for price reasons I'm leaning towards Wyong. The Entrance is also desirable but my issue would be long term tenants as opposed to just seasonal ones

 

@Peter L not sure if you are purely looking at the entrance but long jetty is the next suburb over and I picked up a great tenant within a week.

 

That's fantastic! Makes me feel more positive about things. I was under the impression those areas are difficult to rent out and were only rented in the summer season

 

Not sure about the entrance. But heaps of people commute from long jetty, Shelley beach, Killarney vale to Sydney for work.

 

Will definetly look at those areas on my next trip up! Thank you! Just need to gear myself up for the commute. Such a long way from canberra haha

 

I was looking to do the same on my Killarney block. How much will your costs be for second dwelling for everything roughly?

 

A friend is at Blue Bay and he said it takes ages to get the bus to Wyong station. All around those beach suburbs a car is a must.

I was in Terrigal a few days ago. Gorgeous day, no one swimming. I googled for beach info and it seems its rated very poor for water quality. A few central coast beaches were.

 

@Connor29 i think for a 4 bedroom, 2 bathroom, double garage (totally finished) with all site costs (significant excavation, demo of old asbestos granny flat, tee removal, long driveway, services, section 94 contribution etc) about $320kish. Section 94 is $27k its a Rort. Building with Hotondo they seem good so far!

 

Wow! Long jetty has done 19.98% in the last 12 months and 6.1% in the past quarter! Pretty happy with that. I've noticed Killarney vale is moving too as people are being pushed out of the beachside suburbs. Hopefully more to come!

 

Can someone please give me insight into windemere park near bonnels bay??. We have positive geared ip there bought for 300 some years ago on over 600 sqm but dont really no anything about the area? Much appreciated

 

@lightbulbmoment median price is now $477k so it's going ok!

 

Cheers mate, we dont keep track of it where more newcastle focused. Where did u get that info from? Thx

 

Sydney's housing affordability crisis spreading to Central Coast and Illawarra: NSW Labor

Came across this months-old piece on the Central Coast benefiting from the movement of people out of Sydney. Anyone living or working there noticing the uptick in property values or more Sydney workers moving in?

"People are fleeing from Sydney down to the Illawarra and up to the Central Coast but they are generally armed with higher wages, so they are pricing the locals out of those areas and starting to inflate those property markets as well"

 

We did a move up the coast ourselves last year and yes we did notice almost 100% of the people during open homes were from Sydney.
Woy Woy train station is full of commuters like us and provide a quick access to Sydney.
The beauty about living in Central coast and commuting to Sydney is that you live closer to the beach+national parks and when you are in the train you get the best train ride with a view all along.
Compare that to Western Sydney with same price point, only graffiti views from train and no beach nearby.
If you got a job option in City or around, moving up/down the coast is better than going west.