Buy ip in Nowra? Needing all the experts on this forum for advice

Hi Evernat

Welcome to the forum.

If paying off your PPOR is the goal – but you also want to invest in property, then you're going to have to find CF+ or neutral properties at best. A negatively geared portfolio is going to drain funds that can could be used to pay down your PPOR debt.

You're right – they are probably harder to find now, but they still exist. You may need to think outside the square a little. Perhaps buying something that you can renovate to command more rent. Maybe something with a granny flat that would enable you to recieve two income streams from the one property. You might also have to broaden your search – I'm not sure how Nowra stacks up but I had a brief search a few months back and don't recall finding any CF+ deals.

On another note, the newly sealed Nerriga Road linking Braidwood and Nowra is opening up next month. It's going to shorten travel distances between Canberra and Nowra by an hour. I can see more Canberran's holidaying in this part of the world – great for the local economy….possibly property prices too

Cheers

Jamie

Hi evernat

Agree with devo.
There is some good steady growth, and rental is fairly tight for most good places.

There are a few no -go zones though.

Parts of Bomaderry are suss. Looking at a Nowra map with north wher it is supposed to be, around south nowra/central nowra keep away from the area east of the Princes Hwy between say Park st and Kalender St, and across as far as around Vendetta St (fitting name!!) 
Little bit north on the same side there are some areas where the police don't hurry too much if there is a shooting either. That said, there is plenty going on, and an example is Worrigee, where there is lots of new homes being built, and while some feel it is a bit 'lego landish' there is good growth, and high rental demand there for the newer places. As mentioned, Cambewarra & North Nowra (to the left over the bridge) would have to be the best areas in my opinion – last to drop in prices in the bad times, first to pick up in the better times.

All the best.

Cheers

Shootings is a bit of a dramatization. Can’t remember one happening to be honest. There is a stigma around east Nowra . It’s a bit rough but I’m not talking burning cars and riots here. Just a lower socioeconomic area.most Towns have an area like this. Just be careful investing in areas like that Nowra or otherwise. Nathan on these forums does well targeting some areas like this.

The gaol is south of Nowra and to the south of the industrial area. Not really a safety issue. I think it’s more benificial due to high income employees and there families moving in. As for inmates families. I haven’t seen a bad effect in goulburn but I’m not really sure.

Yes east Nowra is a bit rough but many social housing properties are being sold off. Check re.com. This will actually improve the area as private owners move in.

Central Nowra is great.
So is north Nowra,canbewarra and some of north bommaderry.

Terry Ryder from hotspotting picked it for nsw. Also rates a mention from margrate lomas in the recent top 100 Australia wide.

Nowra is the employment hub for the greater area. Situated on the river next to canbewarra mountain. Minutes from beaches. A couple of hours from Sydney and soon to be the same distance from Canberra after link road 92 completion.

The naval base is still expanding with big employing contracts on the way. The aviation tech park next to the base is moving now.

In a nut shell you might be able to do better than Nowra but you could do a lot lot worse.

I second that.  That new freeway…. they have only 2km-ish of sealing to go on that road.  One of the BIG rules of real estate is FOLLOW THE INFRASTRUCTURE.   A really long road connecting Nowra to Canberra is indeed some seriously expensive infrastructure.  Perhaps Nowra is not thecrest's favourite town.  So what.  Smart bunnies saw major capital growth potential in Corio Victoria a couple of years back and bought up big.  It is a dodgy area.  So what.  So was Frankston which has already boomed.  And I refer you to Richmond Victoria which was a very scary place and is now unaffordable.  Nowra has dodgy parts – so what.  It'll mean there are tenants.  And if they damage your property, that is what insurance is for.  You're in it for the capital growth – riding the wave of property value increase that new road will bring.

Good luck out there! 

Happy to here that. If you need more specific info just let me know.
The link road 92 will be great but people should realize that its only the Nerriga to Nowra section that is complete( opening ceremony in oct). We still need the Braidwood to Nerriga section completed. It will happen next. In fact if you want to land bank out that way. You can get big blocks( 100 acres plus) reletively cheap. Imagine the value after its sealed and all those wealthy public servents start driving past every weekend.

The duplication of the highway to the north is at preferred route stage. This will bring dual carrige ways right to Nowra's doorstep.
Plenty of stuff on its way.

the naval base expansion is also good for high paying jobs. There is always talk of moving Richmond airbase down here to free the airport up as a second Sydney airport. Not sure it would happen but that would be great for the town.The new helo contract will bring 100+ jobs buy itself soon.

My personal opinion is they need to stop stuffing around and develope the riverfront. Big plans are on the way including 5 star  multy level accomodation and riverfront precinct. This would really kick the place along. It has a great riverfront but it has nothing on it. It is happening with i believe developers moving in now. It just needs to be pushed along so the council dont bog it down.

cheers