NSW South Coast - Shoalhaven

I was down the South coast on the weekend doing some maintenance on a property at Sanctuary Point. Stopped at the local shops and this is the 1st time I've since this:



Every house in one of the real estate agents window with a red 'SOLD' sticker on it, except for 2 commercial properties.

 

Oh and a late afternoon picture of Jervis Bay:

 

The local agents are being inundated with investors from Sydney and Canberra especially any house under $300k.

Stock is being sold without ever being listed.

We have purchased 2 in Nowra in the last 6 months to landbank and together they are achieving a 7.5% yield.

We also have IP's in Bomaderry purchased a fews back and they have appreciated significantly both in growth and rent.

I like the areas potential.

On saying that, they are clearly defined areas that we looked and brought in and like all suburbs there were streets that we avoided.

For example, Shoalhaven Heads was not on any list as was North Nowra and Worrigee.

 

Anything near the coast seems to be doing pretty well.
It's almost a catch 22 for prices. You would think supply and demand would make houses really expensive. But when there's not much available, it's almost like the calm before the storm. Interesting to watch.

@Chilliblue What do you think of the Berry bypass?

 

I believe all the new existing and soon to be built transport links are assisting the area.

2541 is experiencing the ripple effect from Sydney. By that I mean Sydney buyers are moving to Northern Illawarra, those buyers looking in that area being pushed further south and so on.

A lot of people who live in the area work in Wollongong with an hours commute.

The only advice I would give is to be careful where you buy and what you buy.

Matt's opinion would also be good to get seeing this is one of his areas.

 

Was down the South coast again on the weekend, this was in another real estate agent's window:

 

are you sure they arent all the properties sold in the last 2 years

just kidding

 

I want to buy something!!!

 

Flooding and bogans scare me in these areas. Can anyone reassure me?

 

I go there from time to time. Family has holiday house there. I know the area quite well. It's quiet as a performer. Probably lacks basic fundamentals but maybe it's the coastal magic. The prices seem to move nice and steadily over time. Nothing major. But nice and steadily. I was there in late 2013 looking at a small 2 bedder cottage sitting on a 900 Sqm corner block on Lorayln Av which is has the water reserve properties. This one was across the road though. So not water reserve but across from St George Basin. High side of road. Asking price was 195k. Needed a little. work which I could have done. Would have made a cracker of a developement site for future giving water views across the road.
Anyway didnt have any underlying fundamentals in its favour so bought in Sydney instead.
I wonder what it's worth now.

 

Just like all areas prone to flooding check flood maps. Park Dr floods. Anywhere near the creek just before the hardware as you're coming in to Sanctuary Point can flood.
Can't reassure you with the Bogan part..sorry.

 

Agree with this. Definately got the ripple from Sydney.

 

@Allgood and my parents are definitely not bogans.

 

there there.

 

It's the Sydney ripple - starts at the Gong and works it's way down over time. Just ask @Matt Knight I'm sure it's keeping him busy.

 

Bring it on. Finished buying so happy for prices to rise

 

I can't vouch for the heritage of Chilliblue boganesque or otherwise but I have met @Allgood and can confirm he is approximately 99% bogan free. Me on the otherhand...

 

Yes thanks @Jamie Moore quite busy. Culburra and Sanctuary Pt today the sun was out and I have the best office!

 

lol. But I was in my work suit and tie that afternoon, back on the farm it's another story. And I think I'm the only one on the Mountain that drives a crappy old commodore amongst the weekend flurry of Beemers, Rangies and Mercs as they head to their trendy weekenders in the 'country.'

@Chilliblue I think getting advice from a local can sometimes do you a dis-service. There are a lot of areas mentioned in this thread and others that I wouldn't buy in because of my preconceived views, but people have probably done really well there. My opinion, for what it's worth...

Berry is very much for the upwardly mobile folk these days. Once a small dairy farming town, it changed enormously with Sydney retirees 15 years ago or more. Now we're seeing huge amounts of younger Sydney families move to the area, which is great. A lot of the locals have moved on because it's pricey, but still affordable compared to Sydney. = No bogans (except for me)

Some areas of Nowra are great, others not so much. Lots of berry people try to avoid going to Nowra and shop in W'gong or Bowral! There's certainly a bogan element, but I'm used to it and never had any dramas. Like most places ice is a problem in some parts.

The Callalas, Culburras, Greenwell Points etc are a mixed bag. We always say there are a lot of pretty people at Callala - cashed up tradies with a goodlooking mrs We lived in Callala for a bit a few years back and loved it but there's a bit of boganism there, too. Enough to want the wife to move back to Berry because she's a northern beaches snob! If I wasn't back home in Berry I'd live there again.

It's probably not fair to really comment on the bay and basin areas because I don't know them that well. I've always thought its a lower demographic but as I said some people have invested and done really well there, @BuyersAgent knows the place inside out.

I'm a schoolie and cant help but judge communities by their schools. There are some tough ones around the Shoalhaven, but some beauties, too. Again, doesn't always mean investing in a more desirable area is a wiser move than in a lower SES area.

As for flooding. We had a1/2 metre of rain a few weeks back and a lot of roads were cut, but I don't think there was any real damage to property around Nowra/Berry etc. Matt has already talked about how things were around the basin.

 

@Allgood hahah great summary!

so berry is being inundated with youngens is it? are they pushing the oldies into old folks homes and taking over the bingo tables?? might let the mrs know, she's a northern beachesite too and i'm a bogan so we'd fit in well!

a mate has a holiday house in callala so you must have seen me around there one time!

how much rain do you get down there?? thats a bloody lot