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Many thanks everyone, I sold a 2 br unit in Canberra 2 years ago. The money left over after expenses & capital gain tax is only enough to buy a 1 br unit (my 1st mistake)! Since then I have been keeping the money in a term deposit. The return is not much after tax (my 2nd mistake). My...

Wow! You scare me off! I inspected a large 2 br ens appt on the ground floor in Pyrmont last year. I saw a big crack on the outside wall near the front door and 2 small cracks inside the appt. The asking price was $395K, rented for $400/wk. I gave it a miss. Thanks heaps. Regards Huey

Thanks everyone for the inputs, I don't think I can get an appt at the World Tower for $400K. I don't know much about Meriton appartments but I bought a Mirvac house in Newington, the Olympic Village 4 years ago. It's beautifully designed & finished. I'm very sad to rent it out. Tenants...

Thanks for the info Ani, I will scan thru the areas you mentioned. I used to live in Kensington, Kingsford, Maroubra, around the University of NSW where I studied. They are pretty expensive now. I thought for the same price it's better to get a place closer to the city. Regards Huey

Thanks Y-man, I've done some homework & registered with Domain.com.au & some agents but still don't know enough. I need to do more research. I'm 3 1/2 drive from there so only went to 1 open. It's on the groundfloor & it's not very good. Regards Huey

Is Pyrmont a good area to invest? As I can see people living there can walk to the city so I assume it's quite easy to get tenants. I don't know much about future capital gain in this area. Has the price been softer in this area and is it possible to get a good 2 br appartment for $400K...