QLD Nambour QLD or Sunshine Coast Suburbs - Investment potential?

Discussion in 'Where to Buy' started by HARV, 20th Aug, 2021.

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  1. HARV

    HARV Member

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    Looking for an investment in the $400 - $450K mark.
    Anyone know much about Nambour and the potential growth in that area?
    Infrastructure development plans etc?
     
  2. d3outguncom

    d3outguncom Well-Known Member

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    Nambour is seen as the "regional hub" for the "commercial district" of the Sunshine Coast, as well as a rural alternative to Noosa. In terms of future plans, it is one of 6 endpoints for the slated 2025 Sunshine Coast light rail, see article here:

    Sunshine Coast Light Rail Project, Queensland - Railway Technology

    Overall, not a bad option at that price. If you are planning a long term play, you could get something with a bit of acreage that could be divided down the track if it is close enough to the station.
     
  3. AsburyJuke

    AsburyJuke Well-Known Member

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    That's a pretty optimistic assessment of Nambour's role on the Coast... surely the commercial centre of the Sunshine Coast is Maroochydore?

    The Coast has boomed massively in the past 18 months, and I agree that Nambour could be a decent "entry point" investment.

    HARV - Nambour is a mid-sized regional centre, about 30 minutes from the beach, with all the usual amenities - a couple of shopping centres, railway station, reasonably bustling main street (some nice cafes etc). It also has a big hospital, although it's pretty old compared to the huge new hospital(s) in Kawana. Historically, Nambour was the unofficial "capital" of the Sunshine Coast and one of the biggest towns - but that's changed over the past 25 years as the centre of gravity has shifted to the coastal strip and farming has lost importance. Nowadays it's having a minor revival as a kind of poor-man's Northern NSW Hinterland - think Murwillumbah/Nimbin/Bangalow.... just not as nice.

    I'd guess the population is around 10k? Probably double that if you include nearby towns like Woombye, Palmwoods and Yandina?
     
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  4. MJS1034

    MJS1034 Well-Known Member

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    Agree with the above. Would certainly say Maroochydore is the commercial hub, not Nambour.

    Nambour has still got a stigma about the town. Quality of tenants would be my main concern. The way the SC continues to grow then Nambour will have to tag along but it’s got a long way to go to be an investment grade suburb. Would be a high rent/ owner occupier ratio id say too.
     
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  5. d3outguncom

    d3outguncom Well-Known Member

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    Sorry for the confusion @AsburyJuke , did not mean Nambour IS the commercial hub, meant it is the "regional entry" point to the commercial hub, which is of course Maroochydore. It is like the base of the Blue Mountains in Sydney is the entry point into the city.
     
  6. AsburyJuke

    AsburyJuke Well-Known Member

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    Have you ever been to Nambour??

    Agreed. It's a pretty mild stigma though...and it's slowly improving!
     
  7. d3outguncom

    d3outguncom Well-Known Member

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  8. Bradley Peet

    Bradley Peet Well-Known Member

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    Hi Harv,
    Which estate in Nambour were you considering? I know of a few going at the moment, some better than others.

    Re the quality of tenant, I haven't noticed any concerns (caveat- I live closeby). I see more 'colourful' people walking past my open-homes in Maroochydore compared to Nambour these days.
     
  9. HARV

    HARV Member

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    Didn't have a particular estate. I don't know the area at all, so just interested to gain some knowledge from people that do. Have been having a little look around Buderim also - don't know if you can shed any light on that area and whether that would be a better option than Nambour based on the growth you're seeing and the infrastructure developments that are happening in the areas close by??
     
  10. d3outguncom

    d3outguncom Well-Known Member

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    You'll be needing $700k+ to get into Buderim. For around $500k, have a look at areas around Birtinya: https://www.realestate.com.au/sold/...e=rea:sold:srp-map&sourceElement=listing-tile

    or Caloundra West: https://www.realestate.com.au/sold/...e=rea:sold:srp-map&sourceElement=listing-tile

    I would stay away from house and land packages like at Peregian Springs. You're not going to find much north of the river. Unfortunately, at the moment, you're probably going to find it hard finding much at all. Stuff is not staying on the market long. A unit near the hospital or Uni may be good for nurses, students and give a good yield although it won't have as much capital growth as some of the houses.
     
  11. Frenchie

    Frenchie Well-Known Member

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    I don't know if there are still lots of packages or land release in Peregian Springs but that's an area I'd consider for that. Premium family feel, close to the beach, good schools, high rents, and good capital gains so far.

    There could be more land subdivided or released near lake Weiba, but the NIMBY are powerful.
     
  12. AsburyJuke

    AsburyJuke Well-Known Member

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    Buderim is one of the nicest (and most expensive) areas on the Sunshine Coast - especially "on top", ie: on the flat land at the top of the hill. It's a very family-friendly suburb. As D3 says, you'd be lucky to find any house on top of the hill for under $750k these days.
     
  13. HARV

    HARV Member

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    Very helpful thank you!

    Not so much looking for a house, more a low maintenance 2/1/1 unit in walking distance to shops and public transport. As I haven't visited the area before, it's hard to get a gauge/ feel of what little suburbs are popular and where people want to live around the Maroochydore area. With all that infrastructure development in the pipeline (CBD expansion/ airport etc etc) what area is going to benefit best from it/ have the potential for long term growth..

    Will people be more inclined to want to live in places like Buderim, Sippy downs, Bli Bli or even Nambour and work in Maroochydore because of there asthetics, or gentrification? Would imagine some of that is already happening - but what has the foundations to be a trendy little town? OR is it just safer to try and find something closer to the coast in say Mooloolaba/ Maroochydore itself....
     
  14. Bradley Peet

    Bradley Peet Well-Known Member

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    Hi HARV,

    Are you on a timeline? I'll have a good little 2-bedder popping up for sale closer to Christmas in the heart of Mooloolaba just off Brisbane Road.

    Currently undergoing a reno so price is TBA
     
  15. d3outguncom

    d3outguncom Well-Known Member

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    @HARV - have a look at what infrastructure is near each suburb:

    Sippy Downs is near the Uni and in demand by Uni students. Some of you may say international Uni students are not able to travel at the moment. Yet USC has one of the highest numbers of Australian students of any major Uni.

    Buderim has easy access to city centre and private hospital.

    Bli Bli is close to airport and northern beaches

    Think about the renters each of these will attract.

    In terms of yield and capital growth, a little bit of research (go to the Sold and Rent sections of realestate.com.au and search for your price and type of apartment in each of those suburbs) will show very quickly the rental yield and the capital growth. Then compare to Nambour and you will have enough info to narrow down and start looking :)

    We own (houses) in both Sippy Downs and Bli Bli and have yield and growth we are happy with.
     
  16. d3outguncom

    d3outguncom Well-Known Member

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    Lots and lots of 2/1/1 in city, search using same process. Be careful of body corporate and management fees there though. It costs a lot to maintain pools, gym, sauna, grounds, and as many/most are holiday rentals, there is often an onsite manager who has a fee. These significantly eat into yield.
     
  17. AsburyJuke

    AsburyJuke Well-Known Member

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    Yep, the coast has loads of 2/1/1 apartments... The top end of the market is probably Cotton Tree/Alex hill/M'ba beachfront, where there are lots of high-spec new developments - Cotton Tree in particular is a fantastic lifestyle location, but you'll pay for it. Long term it should continue to grow thanks to proximity to the new Maroochydore CBD and the beach/river.

    There are loads of older (70s/80s) brick apartment blocks along the Alex/Mooloolaba strip, and north of the river in Marcoola/Mudjimba/Coolum etc...I have no idea about yields.

    You ask "where do people want to live around Maroochydore"?... how long's a piece of string?? How much do you want to spend??

    Assuming you aren't after a $1M+ apartment, maybe look at Caloundra? It still feels a bit like the poor cousin to M'bah/Alex, but is actually closer to Brisbane and has equally nice beaches.
     
  18. HARV

    HARV Member

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    Would love to find something in the next 2-3 months before I get priced out.
     
  19. d3outguncom

    d3outguncom Well-Known Member

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    @HARV Your profile says Sydney, so your challenge is going to be lockdown for the next 2-3 months. Unless you have someone doing all the legwork for you, or buying sight unseen, or getting a BA, lockdown may be your second biggest challenge. The biggest is stuff being on the market for 2 days before being under offer at the moment.

    We are in Sydney and looking at the moment and experiencing the same difficulties.
     
  20. Firefly99

    Firefly99 Well-Known Member

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    Maroochydore is the ‘city’ of the Sunshine Coast but it’s not like other cities where there’s a mass of people commuting there every day to work as the SC doesn’t have a lot of companies that have big city offices. People travel all around the coast to get to work places scattered around the place and many work from home. I’ve lived here for a while and actually don’t know anyone that works in Maroochydore. Public transport is also kind of crap, hopefully that will change but for now most people drive to work (if they don’t WFH). People generally focus on living somewhere that has nice surrounds (views, beaches, bush etc), good schools and a community feel.

    When buying a unit it’s really important to understand if you’re buying into a complex that is used as holiday accomodation or mainly OO and long term renters. There are lots of holiday rentals around (mainly the beachfront suburbs) and if you don’t want to buy a holiday rental then stay clear of them.

    In terms of specific suburbs I think you’ll be priced out of most of the northern suburbs although you might be able to get a small unit around Marcoola or Mt Coolum - and if you can that would be my pick. Other places to look would be Buderim, Bli Bli, etc as others have mentioned. I’m not as familiar with the southern suburbs so can’t comment. Nambour has a pretty bad reputation and 2-3 years ago there’s no way I would buy there. But the whole SC has gone completely mental and perhaps the demographic there will change soon. It used to be a thriving town and has infrastructure, shops, history, etc. I still wouldn’t buy a unit there but if you can pick up a house I think it could do well.
     

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