I have been looking at northern nsw for a while now for a possible IP. My wife and i plan on taking a holiday up there soon and intend on looking around. We would like a place worth around $350,000 giving a fair return which would make it cash flow neutral with tax return included and hopefully show a capital growth in the long term.we are After a simple house in better area close to coastal area. Any ideas of where i should look and where i should avoid. Cheers
Northern Rivers is the place to be!
Hi,
Was recently reading an article (Coastal change) in the Investment Property mag. This was suggesting Port Macquarie as a strong long team market (media house value at $369,500). Bit more north they suggested Tweed Shire (typical house price $380,000).
There was however a stronger write up for Southern NSW; with areas such as Blackbutt, Flinders, Lake Illawarra and Kiama the areas to investigate.
My wife and are are considering buying property in Northern NSW, especially large detached homes which can be subdivided or demolished/rebuild. The demographics show that the baby boomers will soon be getting ready to retire, and recent trends show a migration out to regional areas. Although I'm young, I would suggest this would be a trend that will be followed in the long term, and the stress and hectic pace of cities take their toll on families.
Hope this helps you a little, and good luck!
Interesting comments
Wayne…you write, "interesting comments"…………in what way?
Wilrose
Ah, Northen Rivers, $350,000 will only get you a unit/villa near the coast, will need to go 45 mins+ inland to get a house. Average returns are approx 5-6%. If you can find something neutral, let me know, I’ll pay you for the info!
However, suggest you stay out of that area to reduce our competition!(Hint: new Tugun bypass, Ballina bypass and upgrade of pacific highway will cut travel times from N/Rivers to QLD.)
Ok so a house may be a bit of a stretch. Are units and villas still going to make a good return there in the medium to long turn. Also what areas should i investigate and what rent would i expect.Im not after everyones info just need help to narrow down my search when we go there in a month.
I guess what i idealy want is a nice average weekender style house in good condition on a good size block in close proximity to the coast. I guess everyone is after that. All my searchs show larger homes or newer style villas or units in the $300 to $400 range. Does anyone know what kind of area i should search to find my ideal IP.Im guessing tweed heads is a bit too far along to find things like that. What about coastal towns just south of there?
How close to the coast? 10km?, 20 minute drive?
Some blocks with some sand will cost upwards of $600k.Hi Devo, I'm new to this investing thing but my partner and I recently lived in Tweed Heads for 4 years, he is a plumber an worked on many developments in Banora Point, Kingscliff (Salt), Casurina and Pottsville. Things are booming there. While places like Salt and Casurina are known for their beach views and prestigious houses, Pottsville is known as an ever-booming retirement village – so this may be the place to look. The Pacific Highway now bypasses most of the little coastal towns along the far north coast but if you have a drive along the old highway you may find some surprisingly busy coastal towns not too far south from the bustle of Tweed. I do believe, before we left there was a new shopping village development beginning south of Tweed which may make these towns even more attractive. Also, apart from the Tugan bypass, there is also rumoured plans to extend the railway from Brisbane to Coolangatta airport making Brisbane even more accessible from Tweed.
As someone who grew up on the northern rivers (casino) Ballina and Byron are really has been locations look more to Lennox head, even Murwillumbah (20 mins from Tweed).
Hope that helps
Hi all. I guess i want a place within walking distance not necesarily on sand. If i get a unit it would have to be closer than say a house would be. Pottsville is where im thinking of concentrating my search. I am after a lesser house on a better block rather than a bigger or newer house in a lesser area.
how would you rate Ballina Heights??
Like to do something up north
Also notice they got some land releases there around $220 – 250k mark
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