I have always been amazed as to why people buy property in Western suburbs such as Penrith for example, when you can buy property on the Peninsula of the Central Coast surrounded by water and mountains offering a more moderate climate along with beach’s water ways and bush walking.
The average house sale price i n Penrith for 12 months to June 2014 was $405,000 and the average sale price for the Woy Woy / Umina / Ettalong area was $415,000 according to RPData. The difference in travel time by rail is 8 minutes only.
Ettalong is a quiet yet developing community offering water sports, fishing, bush walking and is home to two of the Coasts major resorts. Potential for Capital gain is fantastic with multiple investment options available.
Case study on area growth
In December 2011 18 Collareen Street Ettalong Beach was sold to a young investor for $320,000 tenanted for the entire period and resold 2 weeks ago after only 10 days on the market with a tenant in it having no modifications done for $440,000. Which equates to a 37.5 % growth over over 35 months approximately 13% per annum plus approximate income of 6% per annum.