I know someone that's just bought there. He's made an endless stream of bad decisions over his investing life and is now betting Nambucca is the next Newcastle, which raised my eyebrows. Of course he could be right as I have no idea about the area. Would be curious to see what you all think?
Lovely place, used to have family there. From an investing standpoint no idea tbh. Newcastle is the largest Non-captial in Aus, somehow I don't see Nambucca achieving similar, surely Coffs Harbour would have more chance than Nambucca? Regards, Arc
Agree with Arc, Coffs is already standing out as a major city and Nambucca will plug along ok as an alternative lifestyle being only 30mins drive south. It's the opening up of these places due to the highway upgrade that looks to be the stimulant of growth. There will be growth, only so many people want and can afford to live in the cities, and with natural coastal beauty mixed with plenty of room to move, its assured that a lace like Nambucca will continue to expand. BTW, 20 mins inland from Nambucca is where we are about to head. Cheapest 8acres fronting Nambucca River bought late last year. Best of both worlds, bush and beach, can't wait !
Already in the portfolio, just awaiting selling current PPOR and we are there. View from directly above the property looking SW Looking North
But investment wise, Nambucca Heads itself has a low vacancy rate at the moment and rents are pretty good. If I were going to buy there it would be East side of the Main Street and preferably as close to the beach as $ available would buy. Lots of strata available due to holiday status of the town. Otherwise, there is Valla to the north and Scotts Head to the south that are located beachside and offer that quiet, small, coastal town feel. Macksville, just 10 mins south, and slightly inland is the rural hub of the area immediate to Nambucca. Situated on the river and with the new highway very close to being finished will be a welcome relief to the local traffic. Not many I speak to have been complaining about bypassing, instead quite happy about it really. I think location location location may well be the key to any successful investment in the Nambucca shire, let alone the possibility of converting to ones PPOR for a future retirement option.
I think the vacancy rate is high not low Only 6000 people live there so 30 houses for rent is significant in my opinion. The vacancy was only about 5 houses a year or two ago and yields were around 7%. Seems a few other investors may have spotted this and jumped in , hence the increase in rentals I still reckon if you can get a house for around 300-350 then it will be a good long term proposition These kind of spots with cheap housing will become rarer and rarer as our population explodes As for the next newcastle?? Well i dont think any nsw town will reach 500 000 in our lifetime Port macquarue or coffs would be a good investment i reckon - in the right part of town
6000 ? 11,000 according to Nambucca tourism website. Nambucca Valley - Nambucca Valley Tourist Information Centre - Nambucca Heads Been told by a couple agents that there will be a period of time soon, and it may have already started, that when the highway upgrade finishes there will be a spike in vacancies. But it is a holiday destination so quite a number of holiday rentals that can sometimes be mixed with permanent rentals. But yeah, agree, aint going to be a rival to Newcastle anytime in my lifetime, whats left of it that is.
Yeah, 2011 census says 6,222 and I doubt 5000 have been added in the last 6 years? But the sign coming into town also says 11,000 ? Mystery.
Check nsw gov regional strategy. Nambucca will be a village for the town of coffs harbour. Not much there, new service centre for the bypass and lots of work in the old age homes (from memory nambucca valley care has got to be close to largest employer in town)
Census is done in either late autumn/ early winter from memory so results arnt skewed Nambucca heads would probably have 11000 there over christmas new years
I believe the discrepancies in population is ~6500 in Nambucca Heads and ~12000 in the Nambucca Valley.
