NSW San Remo - Central Coast NSW

First time poster and about to buy our 2nd investment property .

Has anyone heard anything good/bad about the suburb of San Remo or surrounds?

Thanks in advance

 

Yes i grew up in San Remo.
Its a mix of lower class, has some dept of housing and middle class families.

I was up there last week at Charmhaven Coles and noticed a lot of "bogan" type people but thats only my perception.

The relatively new shopping centre has Priceline, Coles and various small shops.
Its right near the freeeway to the city.
I havent looked at it as a IP area but could have potential.

 

Mount Druitt by the beach

 

Yes look it does remind me of mount druitt when im in that area, Charmhaven shops etc but i always wondered why because i dont recall it has a lot if housing dept houses so im stuck why they pick Charmhaven San Remo area to live .

 

I have looked in that area earlier in the year for properties. I agree that it is a bit like mt druitt. There are better areas up on the coast in my opinion

 

It's close to a Power Station and believe unemployment in the lakes area is fairly high

 

Isnt the power station closing?

 

Nothing wrong with a bit of bogan on your fork. lol.

Afterall, where's there's bogan everything is cheap.

There buggers are always broke except on pension day. So everything has to be cheap in order to win their custom and keep theiving as low as possible.

Eventually the bogans will have to leave as the area regentrifies which I believe is starting to happen in Mt Druitt now. That's where you make good $$$$.

 

Thanks for everyone's thoughts , much appreciated . There are a few brand new houses about to be completed , nice walk to the water . Just thought the area could have some potential .

 

I looked at purchasing in Highview Avenue for my first investment purchase. They don't seem to have had much capital growth since their construction about 3-5 years ago, so be careful what you buy if you do decide on this area.

 

I purchased in San Remo a few years ago now for $200K. At the time, I took the view that it was lower socio-economic (which it was) BUT my tenants have been some of the longest stayers, best payers, least complainers, and ask for new leases every 12 months (with a rental increase) - so you won't hear me complaining at all.

There has been decent growth since then too, the biggest being 17.8% last year in 2014 and another 7.6% so far this year in 2015, and still climbing. (due to the ripple effect from Sydney as far as I can tell)

Best areas are over the eastern side - Richardson, Perouse, Baker & Highview. Best views are at the top of the hill in all the streets than run down to the water.

This area, in my opinion, will only get better as the suburb gentrifies. Until then, it does, like Mt Druitt, still have its "elements".

 

Just for the record, Lake Illawarra (NSW 2528) at one stage had a higher crime rate for car theft and personal assault than places like Mt Druitt and Liverpool.

It only took a decade of breaking up the public housing tenancies and for the area to lose that dubious title and become a lovely suburb.

San Remo is undergoing that change.

Personal opinion only.

 

hmmm think I may go for a drive in Sep to check out this area and stay overnight.

 

I drove through San Remo and surrounds yesterday, first time in about 5 years. First impression less bogans, but maybe it was too early in the morning. Otherwise seems the same. Prices are certainly moving in the whole area, but nothing compared to Sydney. Agent has a few listings (not that many so sellers are in control) and seemed keen to make contact, certainly not like Sydney.

 

Ditto

cliff

 

A suburb just near there is LAKE HAVEN , it has a big shopping centre with cinema etc.
Houses are in the 400's but i see it improving as more people move up from Sydney.
Buying close to shopping centre schools etc is better in Lake Haven in my opinion

 

A friend bought in Gorokan (near Lake Haven shops) for $217k in 2012....he is looking to sell for close to 400k...now...

 

I was looking in gorokan, San remo, lake and blue haven, kanwal and budgewoi at the start of this year. A lot of properties were sold before the first open inspection.

 

Yes, we are experiencing a spike of growth, it's due, part of the regional cycle (15 yrs), kanwal is a part of the 5km radius around the warnervale city hub, which is finally moving (due to be originally completed in 2010) also it is close to a smaller local shopping centre, has nearby wyong leagues club, with footy fields and netball courts, easy access to lake haven shops, quick drive to the beach and other waterways and other arterials, keep in mind there will be considerable supply coming on to the market in warnervale and wadalba, hamilyn terrace, woongarrah over the next few years so expect it to slow again.

Still, I have no interest in San Remo, it's across the river in it's own world and a friend of mine at the local big bank said it doesn't get favourable valuations, which as we all know will impact your portfolios growth IMHO.

Blue Haven which is opposite to San Remo is going gang busters, and now the new Aldi shopping centre is being built right on the arterial going down to the M1 with future expansion on the cards I would probably be more inclined to look here if that is what you really want.

Different pockets of Lake Haven offer different opportunities but like most suburbs you should avoid some parts of it as there is a heavy housing commission concentration in some Lake Haven pockets and these are know for higher than average incidents of crime for our region. Otherwise looks beautiful driving around on a bright sunny day.

I would consider Budgewoi a totally different market to the ones I have mentioned above and therefore requires a different thought process/strategy.

 

I forgot about Gorokan, I also have a friend who had a few properties to sell at different times in the market in the last 7 years and they sat idle at 225K sale price for at least 2.5 years, you couldn't give them away. Timing is everything but certainly not a measure for year on year consistency unless you have waited out a full cycle to balance out the average growth for the period.