NSW South Coast - Shoalhaven

There was an article on SMH. Screen shot attached of state unemployment figures.

 

Southern Highlands and Sth Coast got a podium in P3. Happy days!

 

I was actually surprised some young people I know didn't have any problems getting work in the last couple of years.
Maybe Moss Vale and the other Gong is bringing it down?

 

I know the Bay and Basin (Sanga Point, St Georges Basin etc) has traditionally had imployment/teenage delinquency issues and Im not sure how far 'South Coast' goes, but Merimbul, pambula, eden has often had lower employment IMO.

 

Such a nice spot when the weather is good.
Not much of the warm weather left, should make the most of it.

 

‘Sea and tree’ markets back in vogue

“The latest migration statistics from the ABS are now suggesting that migration to coastal and lifestyle markets is increasing and is being led by families rather than retirees.”

Out of the coastal and lifestyle markets, migration levels are strongest in Sunshine Coast, Wide Bay, Gold Coast, Central Coast, Geelong, Mornington Peninsula, Hunter Valley (excluding Newcastle), Southern Highlands and Shoalhaven.

 

Geeze, missed this one, big news:

"Mr Turnbull visited Sanctuary Point Public School to observe the primary school's progress in teaching robotics, film and 3D printing before a Liberal Party fundraiser lunch for Gilmore MP Ann Sudmalis."

PM spruiks Defence White Paper opportunities during NSW South Coast visit, no promise to use Australian steel

 

From what I've seen, this is more and more the case in the Shoalhaven. Newcomers used to be those close to retirement purchasing down here from sydney and then retiring here in 5-10 yrs. Now, at least where I am, its clearly young families selling their unit in Sydney and buying something with a backyard for the kids, or selling their house with a tiny backyard in the city to buy an acre or two down here. I've said here previously that the overwhelming majority of my 6+8 yo daughter's friends have moved to the area from Sydney in the past 3 years.

 

That is interesting.
Where do they all work?

 

Many of them work for themselves. Tradies, IT. A lot also travel to Sydney for a couple of days a week, maybe stay there for a night and work 2 days there, then return down here to continue their work from home. One of my daughter's friends dad was making big bucks in Sydney and has taken a consultancy job down here paying considerably less but gives him great flexibility, and he bought down here for less than he sold so his mortgage is next to nothing and the cost of living is reduced. I keep telling him he'll get the urge to go back chasing the big bucks, but hasn't yet.

A neighbour of mine is in his early 40s and has bought a farm beside ours. He owns his own business in South Sydney which is only 1.5 hrs away. He's planning on moving down here in the next few years and commute a couple of days. Horses for courses I guess.

 

Hi, I've been looking at everything South of Wollongong for the past few months and there seems to be some good deals, namely areas like Berkley, Dapto, Kanahooka, Lake Heights etc.

I was wondering if you regular investors in the area would be expecting a price drop given Sydney's recent fall? A 10% fall isn't that great on a $400k property, but a 25-40% fall would definitely hurt. Has this ever happened in the area?

Also, what is happening with jobs? I understand that NSW Health and UoW are the biggest employers of the region and these offer fairly secure employment, but what other industries are offering work? The Port Kembla steel mill doesn't look like it will still be here in the same capacity over the next 5-10 years.

Interested to hear some thoughts, Thanks!

 

Not sure about the Illawarra, but there was quite a delay between Sydney taking off and the Shoalhaven taking off.
Don't see it slowing down for some time.

 

Have not seen a slow down in the Illawarra with regards to pricing and as @Azazel said further South is still on the up.

 

Interesting to see the increase from $308k from data in March (Jan 2016).

 

South Coast NSW - i love it.
Any further updates?
I heard Mollymook had one of the states highest capital growth for 2017/18

 

Yeah Mollymook looks like it's gone up quite a bit.

I posted this in another thread, what do youse reckon about this one?
I read on here that sometimes it's good when there is a bad or incomplete ad for a house.
This one has just come up, it says 4 bedroom but it's actually 5 bedrooms - that's a lot of house for that price!
Rang up, all of the inside has been renovated, 3 bedrooms upstairs, downstairs developed into 2 bedrooms and a living area, newish kitchen. I went past and had a sticky beak, looks like a quick paint with a modern colour scheme would update the outside and bring it up to comparable 5 bedroom houses. I see potential
Walked down the walkway, looks like a decent backyard too:
45 Edmund Street, Sanctuary Point, NSW 2540

 

I am actively buying for clients in Shoalhaven and I am biased but I love it (left Sydney 10 yrs ago not planning on going back anytime soon). Everybody knows we have great beaches etc but the infrastructure spending per capita is through the roof down here. On top of the major road improvements we have a serious upgrade of Nowra hospital to the tune of over $400m so the already tight rentals market should only strengthen. We are really benefiting from a couple of very active local politicians who seem to know how to get $ approved. Apart from this years economy/finance jitters (which are impacting everywhere) I can honestly say I haven't been this bullish about a local market medium term (3-7yrs) for quite a while. In an area this big there are obviously sub regions and streets you should avoid so don't forget to do your research.

 

@DeJ - As was mentioned above, take a good look around and get to know the places. It's mostly good, but there are definitely shady areas. A good friend's father had a tenant busted with a meth lab in his rental only a couple of years ago.

 

@BuyersAgent - Totally agree on the infra spend, even had Gladys down there getting buffeted by the southerly a few weeks ago .

Wondering how far down you operate and if you'd extend your bullish outlook further south? Manyana through Moruya Heads.

I'm watching closely for a flow on dip from Sydney/Canberra but it doesn't seem to be coming, perhaps the credit squeeze is actually keeping these markets ticking?

We just missed out on a small but tidy house only 150m across a grass reserve to the sand at what would seem like a ridiculous price in Sydney terms. There's a couple of options nearby which look overpriced on historic trend but could feel like a bargain in another years time?

We're already from the Illawarra and looking to go further south. We know a few others who have already made the move or are readying for it. Also know of at least one vacating the Shoalhaven for quieter places too .

 

Woah, that's dodgy.
Did they have a property manager - or was it through the local bikie gang?