Have noticed a thinning out of cheap 2 bedroom units in Auburn (those asking under $200,000) in the last few weeks. Particularly those on the southern side of the railway line (not the Parrammatta road side). There are also a few of the cheaper units which would sell around the 220k-240k mark going to auction-something I have not seen during the last 2 years.
http://www.realestate.com.au/cgi-bi...nbed=2&maxbed=&parking=&minlandsize=&p=30&o=p
I think the first home owners grant at $14k and falling interest rates are making these cheap entry properties more interesting to purchasers.
I recently saw a 2 bedroom unit in Auburn where the owner was asking $210k with an existing tenant paying $320/week. The property had sat on realestate.com.au for a while...now its gone. This would be over 8% gross yield were you to pick it up for $200K. Early 1980's building on St. Hilliers Road in good condition. 6 units in block. These high yields will only look better if you buy now and interest rates continue to fall.
http://www.realestate.com.au/cgi-bi...nbed=2&maxbed=&parking=&minlandsize=&p=30&o=p
I think the first home owners grant at $14k and falling interest rates are making these cheap entry properties more interesting to purchasers.
I recently saw a 2 bedroom unit in Auburn where the owner was asking $210k with an existing tenant paying $320/week. The property had sat on realestate.com.au for a while...now its gone. This would be over 8% gross yield were you to pick it up for $200K. Early 1980's building on St. Hilliers Road in good condition. 6 units in block. These high yields will only look better if you buy now and interest rates continue to fall.
