NSW South Coast - Shoalhaven

and the bludgers dont start till 10!! or is that just smoko... lock up the orchy bottles

 

Our Berry 'village vet' said he was hearing figures of around 450 - 500 mm over the 4 days or so. He reckons 480-500mm up at our place wouldn't be too far off the mark because we're up in the mountains. The papers were quoting Nowra at 390mm over 2 days and a Weatherzone reckons 420 over the 4 days for Nowra. We always cop it more than town because of the geography.

 

too funny. I wouldn't say youngsters. More 40 year olds who have had a kidlet or two and sold their Sydney pad for a tree change. Most of my daughter's 7 year old friends have moved to Berry from Sydney over the past 3 or 4 years. Lots of their dads work from home and maybe travel to Sydney a day or 2 a week. It is nice tho because so many of her friends are lovely people who are quite worldly and very keen to be involved in the community.

A few weeks back I took some time off work and did the school drop off thing. I was amazed at the amount of dads who were doing the same, because they have the freedom to do so. Except they were all wearing their fancy shoes and trendy hats, holding their take away cup of fancy coffee with their fancy dogs wearing fancy doggy jackets. Then they'd get back in their fancy cars and be back again for the arvo pick up. The only time my dad ever dropped me off at school it was usually in the old bedford cattle truck, he'd be wearing king-gees and blundies, and even back then I'd make him park around the corner because it was too embarrassing to be seen in!

 

hmmmmm @Allgood i'll get back to you about moving in sounds very fancy! but good for them! great area to live

a mate has moved down to kiama recently from the blue mtns and works a few days in teh city the rest from home. he's a comendian and made the call for the lifestyle... although its a long way to the city for gigs if you ask me!

 

Hehe, parts of the 'gong are worse than Nowra.
They probably go up to the other 'gong (Mittagong), can't afford Bowral

 

Well spotted, but I think the photo was Saturday evening, so not bad for a Sunday morning.

 

FYI YIP article
Infrastructure investment and decreasing affordability in Sydney drive interest in NSW's South Coast

 

"...is becoming more and more popular with buyers as a result of an influx of infrastructure investment and decreasing affordability in Sydney."

Geeze, they're a bit slow. What have we been saying?

 

The bigger shopping centre has gone up pretty quick (once they finally started), shouldn't be too long until it's open:

Vincentia Marketplace, Leasing Now

 

Bring it on is all I'll say

 

Does anyone think that Nowra has already had its run or is there still room for growth. I like the south coast. What sort of rental return is it achieving.

 

I think the journos were all Sydney obsessed for a long time, finally they are looking for other stories that have been flying under the radar.

Good link @Azazel

Yes @Chilliblue but slowly, I haven't got enough dual occ sites yet!

Hi @Brian84 I firmly believe it is just getting started, having had an initial pulse of around 20% but remember this is after essentially 10 yrs of no growth. New road is and will ensure further exposure for Nowra.

I like it too - which is why I moved here 8 yrs ago!

Rent returns are not spectacular, ranging between 4-7% depending on what you buy, there is a tight rental market ensuring filling places is easy but our incomes aren't huge given no mining or heavy industries to raise wages. If you assume roughly 5-5.5% for average family homes you won't be too far off. You need to be creative, reno/value add or due GF or similar to get higher. All of which is possible if you have the energy but some just want to wait for gains which is fine too.

 

That sounds pretty good. It will be my first investment and I'm looking for something neutral to positive cashflow. I would be after something with decent block size for future development.

They seem to be on decent blocks around Nowra.

 

Unfortunately the cat has been out of the bag on the area for the last several months and the agents are reporting increasing numbers of investors especially from Sydney and some from Canberra looking to buy.

They are some good bargains still to be had but you need to understand the area and what will hold up as a rental when there is an oversupply of rental properties. They have also started auctioning more of the "investor styled" properties to see how much they increase prices/

I have been fortunate that the last two that are being land banked are returning over 7% without a cent being spent. However, I know the area well and have active for the past 4 years.

 

The holy grail everyone wants, +cf, cg and development potential! Realistically you will need to put your focus on either the cash flow or the development potential. You might get lucky and snag both but unlikely. I would say currently this area lends more opportunity to the dev potential than the cashflow (in general)

You have done super well Chilli you deserve all your future gains and plenty of kudos as well. Congrats in advance!

 

thanks for the advice Matt. I would be more after +cf or cg over development potential to start off with. Maybe I should stick to looking in Brisbane.

 

Maybe, but with cf it isn't so much about the market but the property. Brisbane doesn't exactly have +cf properties sitting on shelves waiting to be picked up. Of course it depends how YOU define +cf as well. I find 1 getting a good entry price. 2 willingness to renovate or add value with gf construction or approval best way to increase cf. Best of luck regardless.

 

My view is that getting a GF to help boost CF is easier in NSW than Qld. I am not entirely sure but it seems there are more restrictions there than in NSW.

 

Thanks Matt. My understanding that +cf depends a lot upon rental yield. Correct me if I'm wrong. A lot of properties in Brisbane are pretty well priced and I think the rent will cover the repayments.

 

Correct as NSW has a state based regulation for granny flats. For Qld individual councils have their own rules.