NSW Upper Blue Mountains(Katoomba) vs Nowra

Hi,
I'm considering buying a house and moving to either Katoomba area in the upper Blue Mountains or to Nowra area as a PPOR to be closer to my favourite outdoors sports. I don't want this decision to be entirely sentimental though and I plan to rent out a couple of rooms in the house.

What are your thoughts on growth potential of these two areas? Do you think one of the two is more likely to flatten or drop in price from where they are now?

Some factors I think could affect this are:

• The new highway upgrade to Bomaderry (completed)
• The highway upgrade past Katoomba (yet to be started, potentially years of traffic pain to come)
• Proximity to Sydney and new airport for jobs for Katoomba
  
• Proximity to Wollongong for jobs for Nowra

Though I'm not sure exactly how these factors will affect the prices of these two areas. Any ideas?

 

I'd personally go coastal just because the mountains are too cold for me in winter....

 

I don’t think the new airport would have any impact on the price in Katoomba…

Both Nowra and Katoomba have already gone crazy in the last 12 months - Just pick based on your personal preference.

 

Like @Gockie I would never live in Katoomba. I hate the cold.

 

Okay thanks!

 

I've lived in Nowra for 40 years. Current prices blow my mind....

 

c'mon...there really is only one option then. Most of your kindred spirits will live in Blackheath but with a sprinkle found in Medlow, KTown, Leura and W Falls.

 

I agree.. but it being one of the cheaper suburbs on the south coast is it not bound to follow suit?

 

Both places have proven to have good long term performance. But both are near the top of their current cycle.

It's really up to you when it comes to PPOR. Just make sure you're comfortable living there. Personally I would rather live in Gerringong, Jervis Bay or Ulladulla

 

There's a real short supply of housing stock in the mountains so I can imagine demand will be there even past the pandemic. Demand is coming from plenty of Sydney based people who can work remotely. Just go to Leura on a non lockdowned Sunday and watch everyone gawking through the windows of the realestate agents.

Adventure wise mountains has everything covered; lots of sport, trad, canyons and plenty of choss. Nowra is also good given all it's sport climbing along with close proximity to the perp (also closer to the snow).

 

Yes I tried buying in the mountains a few months ago whilst still owning my property. The market is crazy hot there and now, other than the odd cheaper property; may be too expensive for me again even now that I have sold my property (looking at the most recent properties put up for sale, that is ).

I'm a big fan of sport climbing mostly so both places suit me. Nowra might be the best option for a price range I feel comfortable with since both places are at the top of their cycle really and since I need to reinvest shortly and, can't afford to wait years for prices to correct. Nowra has better yield as well from my research (as a back-up if I don't like the change from Sydney)

 

@Leah1 another vote for the Shoalhaven. I moved from inner city Sydney 4 years ago and don't regret it one bit. The much longer trip home from Sydney airport is a pain, but the new COVID world equals less travel for me.

I find the traffic on the Princes Highway is a lot better than the M4, but the South Coast trains aren't as regular as you may find in the West. Less population down this way equals less services in many aspects. My internet is better here than the city though!

Are you looking at Nowra specifically?

 

Okay great
Yes I think Nowra and surrounding suburbs specifically, because it's so central I might be able to find work in Nowra itself or commute pretty easily to Kiama or Wollongong and; it's the closest to the sport climbing as well as being a bit cheaper than other nearby areas.

 

Revisited this thread. I see I posted in it in July 2021.
Had too many hot summer days in Western Sydney recently….. Believe it or not, 2 and a half years later i’m open to the Blue Mountains (one day a few weeks back Western Sydney was 46 degrees but I noticed Mid Blue mountains it was 36 degrees…) Western Sydney’s winter really isn’t bad compared to its summer and perhaps Sydney is just going to get hotter.

Nowra is still affordable (houses from approx 500k) but I’m not sure about access to employment there.
I had also been looking in Tas (Launceston and Hobart). I know Tasmania had a gone through a boom recently after doing nothing for a long time. But, when the rest of Australia is hot (temperature wise), at least I figure Tasmania’s climate is cool! Oh, and you can see Auroras there too.