NSW San Remo & surrounds - Central Coast

Looking for some input about our upcoming purchase. We are looking at purchasing first home with the intention of minor renovations (my husband is builder) to then either sell on or rent out in approx a year or two.

I previously lived on the Central Coast 7 years ago and returning from Sydney for the purchase. We are looking at Lake Munmorah, Buff Point, Budgewoi however noticed San Remo seems to have changed considerably since I have been gone. The previous thread I found on San Remo was from 2-3 years ago. Looking for some more current information if possible.

It appears you can get much more value for money and the outer skirts/eastern side of San Remo seems to be more attractive for purchases. Has rental yield increased/decreased since 2015? Sale prices seem to have increased.

Any thoughts/experience in the area would be appreciated...

 

More so I am asking, do you think this would be a wise investment?

 

Disclosure: I own a property in San Remo.
San Remo is gentrifying in the better parts (eastern side and northern side with lake views). There are still areas to avoid near housing comm. For the right property, there is good opportunity for making money / equity from renovation.
Rental yield is OK but, rents are locked in on 6-12 month leases typically and house prices can go up overnight, so RY is lower than it was, which is normal for this part of the cycle. When prices take a breather, rents play catch-up and RY improves (and overshoots eventually), and investors start to buy in again for yield ......which pushes prices up, and so the cycle continues.
The nearby coal fired power station was demo'd recently, which some think improves the aesthetic also.

 

Do a search on here there are a ton of threads on San remo