I too am looking at a property in priestman street. I'm currently in Ballina Nth NSW. I'm hoping Umina beach is just as quiet and peaceful without the complex issues major towns have. I have read good and bad reviews, but what is Umina beach like now August 2018?
Priestman Ave is a good street, located a short level stroll to the beach & the main Shopping area's of Umina Beach. Also it is located in the catchment area for Umina Primary School which is the best Primary School in the Peninsula. Umina is nothing like Mt Druitt !!. As an investment area Priestman Ave would make a good investment street as most homes in the street are owner occupied so you there are few rentals so you'll have no trouble finding a tenant.
Umina has a reputation for drugs etc and the area being Central Coast's Mt Druitt. Let me just say that only people who have not lived here (or Mt Druitt) call it that. I am from the Coast, moved to Sydney and have now moved with my family to Umina. There are problems all over the Coast, as there is problems all over Sydney and to think otherwise is naive. The majority of people in Umina seem to be elderly people, and when crime does occur here, it is usually perpetrated by people who do not live here, but are from Sydney or other parts of the Coast. It is very rare to find a crime done in Umina is by a local resident. My advice is to subscribe to Brisbane Water LAC on Facebook as they will give updates on anything that takes place in and around here. The good thing about an investment property here is that prices have steadily been on the rise, we have noticed a huge increase in prices in the past 12 months. However, keep in mind, the rental may not be as high as other places, so you would need to weigh all of that up. I personally like living here as the pace, facilities, people are all great. The people I chat to (but may not know) when I am in the cafes or shops are all very nice. Good luck with your decision.