NSW Is Katoomba a good one to buy property in

Discussion in 'Where to Buy' started by Sigemup, 2nd Apr, 2019.

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  1. Sigemup

    Sigemup Well-Known Member

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    Hi guys

    What do you think of katoomba as a market ?
     
  2. ashish1137

    ashish1137 Well-Known Member

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    Are you going to create thread for each market/ suburb?

    What have you researched so far?

    Regards
     
  3. bmc

    bmc Well-Known Member

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    Glebe markets are better
     
  4. larrylarry

    larrylarry Well-Known Member

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    it seems like katoomba and surrounds like leura, the prices have come down quite a bit after the last "boom" in 2016ish. I'm looking at the areas too.
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    Katoomba will always be sky high, Blackheath a little higher too.

    If you want low, Hartley is on the flat.
     
  6. dabbler

    dabbler Well-Known Member

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    Katoomba, well, I can tell you, people either settle closer too the Penrish side of things, or they keep going...past Katoomba, Past Lithgow, and pretty much mostly land in Orange if they have some moola, Bathurst is also ok, but OOs are going Orange for a number of reasons.

    Does that mean you can't make Katoomba work ? or Mt Victoria, or Hartley, Oberon, sunny corner or wherever work, well, no.....all depends on your criteria, goals, etc...
     
  7. larrylarry

    larrylarry Well-Known Member

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    Is there a reason why there are so many sales in Lithgow?
     
  8. dabbler

    dabbler Well-Known Member

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    Not sure, it is located well, but has nothing there, must just be the council and maybe climate....will have to ask around as to why it is bypassed by most.
     
  9. Propertunity

    Propertunity Well-Known Member

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    From abc news articles:

    Unfortunately, Lithgow survives on the mines, which are closing down. Some blame Lithgow's problems on job losses at the Wallerawang Power Station, which shut in 2014. The state-owned power station was sold to power company Energy Australia, but soon after the sale it was mothballed and has sat idle since. Then very quickly after that, the closure of the Angus Place colliery.

    Totally, that was a loss of over 600 permanent, full-time jobs- you can understand the flow-on effect of that.
     
  10. Mikesydney

    Mikesydney New Member

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    How’s the rental market in Leura? What’s the average house price there ?
     
  11. Scott No Mates

    Scott No Mates Well-Known Member

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    Domain, real-estate.com.au and plenty of other sites out there to help you with the stats.
     
  12. larrylarry

    larrylarry Well-Known Member

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    woah. thanks Alan. It looks like quiet town when I drove past it recently.
     
  13. Serveman

    Serveman Well-Known Member

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    I think Katoomba and Blackheath have been steadily gowing up in price. In 2013 the median house price was $355k. Currently its around $585k. Prices have been flat in the last 12 months after a small drop between 2017 and 2018 of about 2 percent. Blackheath is becoming quite trendy lately with new cafe's and other small businesses opening up. There are people who cannot afford Sydney looking at buying in these areas as places that are commutable to Sydney and also those who like to have a property not to far away from Sydney. The average rent is around $420 -450.
     
    The Grinch and larrylarry like this.
  14. dabbler

    dabbler Well-Known Member

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    2013 to now is like talking 3 generations....

    It was hot when Syd was really on the last boil... I doubt it is as good as Penrith ATM.....happy for people to point out hoe wrong I am...
     

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