Hi, My husband and I decided against Orange for our first IP now we're looking within the central coast. We've found a potential contender at The Entrance that we want to see this Saturday. Looking at the vacancy rate it seems a little too high - this could be concerning. Does anyone have any experience with The Entrance? Any insights into the rental market? The particular property we are looking at is close to the beach and shops so the location is good. Thanks!
There's plenty of rental stock as it's mainly a holiday/tourist destination. It's a bit far from the motorway exit and from any major centres like Gosford/Erina/Tuggerah. Also no train stops so hard to get to for any sydney commuters. Potentially holiday airbnb though?
I don't know many investors who would invest in a place like The Entrance. It's a nice place if you have a secure job in the area such as feeding Pelicans. Rental vacancy rates in central coast have risen a lot lately. They dropped last year as many properties were in the process of being sold due to rising market and hence there were fewer available dwellings. It's back to 3-4% vacancy rates which is a lot higher than Sydney averages. You also pay higher management fees on central coast so that should be part of your calculations.
Rental vacancy rates have risen because of the higher than average % of investors buying at the present time, so there is more rental stock available. It takes a while to wash thru the system but it will (and it does) just like everywhere else that has been thru the same thing. The Entrance is more a holiday destination. No train. Far from the M1 motorway for commuters etc as others have said.
Wow, talk about 2 different extremes. How did you go from inland regional too the coast ? and so quickly, I saw your Orange post and got sidetracked before replying..... Entrance was always a second rate holiday spot if you ask me, it is probably the same now. Decades ago entrance was full of crook REAs and bad tenants, I would expect that has improved a lot, but who knows Orange is a complete contrast in every way, except for soft rentals. I would think one has better cash flow v CG