Best State to buy a house under $300k in today's market

[Milanista]

Hi All,

Some states are at their downward turn e.g. Perth, Brisbane. Good time to pick-up a bargain for future growth. I already have a unit 5km from Perth CBD. I would like to add a house to my portfolio. I'm open-minded to buying in other states. For $300k what state/suburb would you put your money? Close to postively geared as possible is preferred.

Cheers

 

[wobbycarly]

When you find out, let me know?

 

[Cherry Pro]

I would go Sydney, still bargains to be had and with a return of 7% or thereabouts, you can't go wrong.

 

[shim]

Outer west side of Melbourne if the government decides to further develop the infrastructure

 

[ndpjai]

Can you get a decent house in sydney for <300K, i doubt may be 35-40Kms away from CBD. But still i prefer Sydney over anything.

 

[RumpledElf]

Depends if you want to go metro or regional.

 

[Milanista]

I would go Sydney, still bargains to be had and with a return of 7% or thereabouts, you can't go wrong.

Any particular suburbs or areas? Newcastle perhaps?

 

[Milanista]

Outer west side of Melbourne if the government decides to further develop the infrastructure

Thanks Shim. Do you have any particular suburbs in mind?

 

[Milanista]

Depends if you want to go metro or regional.

I don't mind loking into regional. I do prefer metro.

 

[bene313]

Depends on how you define"metro". Gonna be difficult to find a house for less than 300k, in a metro area, in any state. I like Sydney at the moment, perhaps you could find something on the fringe of the metro area. What about ADL? Might be more choice?

 

[Felixter]

Depends on how you define"metro".

 

[Felixter]

 

[Felixter]

 

[Felixter]

 

[Nathan]

Sydney you can get 8 - 10% yields if you look hard enough.

 

[newbyinvestor]

NSW is best Nathan and I have been working overtime educating myself .
In saying that my little dump in Gippsland isn't too bad?

 

[Milanista]

NSW supporters!! haha.. I haven't done any research into NSW.. Where is NSW at in terms of the general property cycle? I noticed Melbourne had a small boom the last 2 years or so prices are a little inflated.

 

[virgo]

Nsw

Hiya

This months's API market rates Sydney as a rising market; the rest of the capital cities are either peak/declining market....

 

[hunterhomes]

Newcastle and the Hunter Valley.

The Hunter in general is booming with mining related work and there is not enough accommodation in many areas.

This all flows into Newcastle which is going through a continual gentrification and still really undervalued in many areas.

The Sydney crowd are catching on and the number of them relocating to Newcastle is growing. People are sick of the hectic commute and are heading 1.5 hrs North where the sun shines and housing is much better value. There are some real bargains around in lovely, leafy areas compared to what you will pay in Sydney.

That said, I don't dismiss Sydney as a good investment. But you could pickup almost two properties in Newcastle for a similar investment as one in Sydney.

At the auctions last weekend, plenty of onlookers, but everyone standing on the sidelines hanging off. Properties being passed in left, right and center. There are some good opportunities at the moment while people are hesitant to commit.

Aaron Clausen, Managing Director
hunterhomes.com.au

 

[mr_squiggle]

In Sydney for a house you are looking west of Blacktown at this price. A lot of inner city home owners are using their house equity to invest in these areas which is not a bad idea. The new state government is proposing some land release in western Sydney.

Areas like Newcastle, the central coast, wollongong etc. and other regional cities might be worth a look but you really need to do your homework.