Carramar NSW Is it worth

[pokhrea]

Hi

I am trying to get hold of a property in Sydney having had couple in Melbourne.

Carramar seems to have a very high rental yield 7% and still the 2 bed units are around 200K at the moment.

It ticks my list close to station, not far from cbd but I am worried about CG as the property I am trying to buy was bought for 250K 2 years ago so in fact i thas gone down in price. I know higher rental means low CG but this seems to be going negative so wondering if this trend will continue.
With around 200K budget I dont think I will get anything in Sydney which has a good CG as well as reasonable. The other think worrying me is the time to sell if i have to as there are units that are there unsold for months

Any suggestions if I should go with carramar or concentrate on western sydney like st marys?

Suggestions please experts there
pok

 

[Propertunity]

...... but I am worried about CG

CG for houses there has been good. See blue line on attached chart. CG for units - not as good as the houses - a bit so-so.

.....as the property I am trying to buy was bought for 250K 2 years ago so in fact i thas gone down in price.

I would suggest to you that $250K was never the real market value 2 years ago, more than "units have fallen in price" (they haven't).

 

[pokhrea]

carramar

So the CG is there but not as that great right

I dont mind that as long as it does not go down.

Another question is a ground level apartment cheaper then the top ones
Pok

 

[Propertunity]

I dont mind that as long as it does not go down.

If you buy ANY real estate ANY where, then there is a risk that it can go down. (as well as up)

Another question is a ground level apartment cheaper then the top ones Pok

Top floor = better breezes, better views, better security, better noise (less) = higher purchase prices & higher rental yield.

Ground floor with a courtyard are also in demand because older residents who can't (or don't want to walk up stairs) or families with small children who don't like upper level balconies.

 

[Collector]

Top floor = better breezes, better views, better security, better noise (less) = higher purchase prices & higher rental yield.

Plus a lot hotter

 

[pokhrea]

carramar

So can i assume that carammar is not that bad as I haveknown to be

 

[Propertunity]

So can i assume that carammar is not that bad as I haveknown to be

Can't answer the Q, as we don't know "how bad you have known it to be"

 

[travelbug]

Ground floor with a courtyard are also in demand because older residents who can't (or don't want to walk up stairs) or families with small children who don't like upper level balconies.

And also can get wet (some of the flats near the river are in a flood zone).

 

[pokhrea]

flood zone

Thanks travelbug

Never relazied this do you know if sandle crescent falls into this

what might be the best to find out which units fall into these

 

[Propertunity]

This will be mentioned in the 149 Certificate which forms part of the contract of sale.

 

[ziggy2214]

I know higher rental means low CG but this seems to be going negative so wondering if this trend will continue.

If it did then the mortgage repayment would be lower than the rent so you will be making money but this situation is not likely to occur because people who pay rent will wake up and buy their own place.

I think such suburbs have room for price appreciation.

 

[eternit]

I bought a 2 bedder unit for $132K just over 2 years and now worth over $200k which is not so bad in CG imo.

It is rented for $250pw atm but will increase to $270 in the near future.

Hi

I am trying to get hold of a property in Sydney having had couple in Melbourne.

Carramar seems to have a very high rental yield 7% and still the 2 bed units are around 200K at the moment.

It ticks my list close to station, not far from cbd but I am worried about CG as the property I am trying to buy was bought for 250K 2 years ago so in fact i thas gone down in price. I know higher rental means low CG but this seems to be going negative so wondering if this trend will continue.
With around 200K budget I dont think I will get anything in Sydney which has a good CG as well as reasonable. The other think worrying me is the time to sell if i have to as there are units that are there unsold for months

Any suggestions if I should go with carramar or concentrate on western sydney like st marys?

Suggestions please experts there
pok

 

[Out Classed]

I bought a 2 bedder unit for $132K just over 2 years and now worth over $200k which is not so bad in CG imo.

It is rented for $250pw atm but will increase to $270 in the near future.

Where did you buy this unit?

 

[eternit]

Where did you buy this unit?

i bought in carramar