NSW Tamworth

Hi all,

I have been looking into tamworth more and more as of late and have not8ced there is no thread on the area!

It seems that there is steady but slow growth in the area, vacancy rates have been coming down and yields seem to be around 6% - 8% which certainly helps with serviceability and holding for the long term.

Why Tamworth?, Professionals Tamworth - Web Books

Was wondering if anyone currently holds here and why? Have you looked at tamworth before and if so why did you not purchase here?

 

dont take too much notice of what a real estate agency is going to put on their website about the town they do all their business in!

 

For sure, have been doing my own research and verifying this through other sources like sqm research. My partner and I are up in tamworth for the week looking at a few properties.

It appears the lower end of the market is being eaten up quite quickly.

 

It will be good to hear your thoughts on Tamworth. I have held an investment property in West Tamworth for a number of years. Great rental yields , however you will have to take into account the massive council rates.

 

We have looked at west tamworth however this area in particular looks very very low socio economic. Lot's of damaged houses, holes in the front of the properties, litter everywhere and kids running around the streets. There has been a lot of problems with break and enters. Although the yields look good there is a lot of risk with the tenants. For an extra 20k deposit I think closer to the town centre will hold much better yields and tenents.

 

The upper part of West Tamworth is ok. However the Southern part of west Tamworth is another ball game altogether.

 

Stick to the capitals my friend. You can make money out of regionals, but it is quite speculative. Boring is beautiful!

 

Nothing wrong with investing in Tamworth.

Long term steady growth, no boom or bust just boring steady growth.

Parts of West Tam are good, the area bounded by Belmore st, Gipps st, Ebsworth and Matthews st is slowly being gentrified. It is a short walk to CBD and receives the morning sun way earlier than East Tam as the hills behind east block sun for ages especially in winter.

There are definitely areas to avoid though.
Parts of Oxley Vale, most of Coledale and Westdale.

South Tam in the heights above Hillview rd is ok.

But overall its always been the regional hub for the north west slopes and plains and with many business moving up from the big smoke its growth has been underpinned.
This drought may affect it in a small way but will bounce back ok.
In fact Tamworth has been growing to the detriment of the smaller satellite towns around such as Manilla, Werris Creek, Quirindi etc.

I grew up there and continued to school there from our move to Quirindi. Lived in Quirindi on and off for decades so still very familiar with Tam.
if I was still living there Id have a few IUPs but Im on the coast again now and staying put!

 

Might go for a drive through again this afternoon just to get a feel for it.

I really liked this property however on speaking with the real estate it is already under offer.

14 Scott Road, Tamworth, NSW 2340

 

Very informative and a good insight. I do really like east tam, the houses are beautiful and it looks like a lot more owner occupiers, however the price jump is quite noticeable from south tam.

Will be looking to purchase between 220k and 300k although I think at this point another trip or two will be needed.

That said the town is beautiful and people have been very friendly. The economy seems very diverse and the local council appear to be putting a lot of work into maintaining the town.

The wine bar is also a nice little spot to relax and watch the town, problem is stopping at one haha!

 

If you double check those 2 statements I believe there is an error as when I look at Tamworth on SQM I see vacancy rates getting worse not better this year.

 

Are you

Are you sure? April 2019 was 2.5%, july is at 2.2% not a lot but it is moving in the right direction at least.

 

When I look at the graph for postcode 2340 I have April 2019 at 2.6% and july at 2.4% but January was 1.8% and early 2018 was 1.1% so overall trend is up. You are right, not a lot and mid 2% range is considered balanced and acceptable to many. So no reason for panic stations, I just love it when the trend is heading down below 2% over time

 

I might have to pay for the upgraded version as I'm worried my figures are off from yours haha. Yes I noticed last year was a lot lower but am interested to see if it continues to go down.

Would also be interested as to why thwy were so low in 2018 amd not now. @BuyersAgent, have you bought for any clients in the tamworth region before?

 

In more ways than one, you get what you pay for.

 

This is in way better location, east.
8 Mitchell Street, Tamworth, NSW 2340

Lol, an old school mates house!
51A Hillvue Road, Tamworth, NSW 2340

Unless you’d be happy to buy a unit/strata in a better location, I can’t find anything worth buying except for a couple renovators in good locale.

 

Oh these are not bad we have ended up finding a decent property around west tam in mack street, the end of street in a culdesac. The street seems well kept and tidy and is a good distance from the worst. Nice corner block with tons of room to add value for a little bit of work and $$$.

Just happened across it on our drive in the afternoon. The properties you have shown are very appealing also, We will look at them also today. Thanks!

Not sure with units in tamworth, they haven't appeared to be doing well in comparison to the houses. Although it is something to think about.

It really is a small town when you can have a quick search and see an old friends house up there haha!

 

Its been classified as a city for decades, not a town.

The expansion in the last 20-30 years has been tremendous and all the while prices growing as well.

That Mack st is on the wrong side of the railway in my opinion. Its very very close to Coledale, in fact I would not call it West Tamworth at all.
West Tamworth is a bit misleading as physically its more like Central Tamworth. Back in the old old days that golf course would have been on the very outer parts.

No way would I buy near that Mack st but thats just me.
Do your own research and dig a bit deeper.

 

here is an area I know quite well, I used to live there.
7 Myndee Avenue, Tamworth, NSW 2340

101 Hillvue Road, Tamworth, NSW 2340


39 Minnamurra Crescent, Tamworth, NSW 2340

118 Garden Street, Tamworth, NSW 2340

Stay south of hillvue rd and willburtree st, and east of the railway for South Tamworth.

There is a heap on the market, Id be thinking its a buyers market at the moment, put the pressure on them. Never seen so much on sale actually.

Just my thoughts, not advice, seek your own.

 

Definitely just looking at as much as we can while we were here so I have an understanding of tamworth much better. What would your thoughts on lydia be as this seems to be a nice street in south tamworth.

Thanls so much for all this information, very informative and exactly what I needed to hear.

Locals seem to have mixed signals depending on who we speak with.