Interested to see where sentiment lies with respect to our major cities.
If you were given $500,000. Which city would you buy in?
- Thread starter Jake Milne
- Start date
Part of me says anywhere but NSW as I'm over the land tax threshhold in that state now.
Then again I like to be near my investments and you can't go wrong with Sydney
From that list I think Melbourne has the best long term growth. If your total budget is $500k however, you won't find much down this way and I'd say Brisbane fits better.
No 2 in the 4th at Flemington
It's Scratched!
$500k is quite a deposit. I'd buy lots of houses in lots of places.
Where's the Hobart and Canberra options?
For $500k, you could buy houses in Adelaide and Brisbane and still have a little bit of change left over. Or two houses in Hobart if you prefer that.
The original question might as well be asking "how long is a piece of string?". Some of the answers already are from a personal situation (e.g. taxation), and each city has multiple markets moving at different speeds and directions - Melbourne in particular.
For $500k, you could buy houses in Adelaide and Brisbane and still have a little bit of change left over. Or two houses in Hobart if you prefer that.
The original question might as well be asking "how long is a piece of string?". Some of the answers already are from a personal situation (e.g. taxation), and each city has multiple markets moving at different speeds and directions - Melbourne in particular.
I might have to throw in a few extra $, but this one............
http://www.realestate.com.au/property-lifestyle-vic-nar+nar+goon+north-7625763
The Y-man
http://www.realestate.com.au/property-lifestyle-vic-nar+nar+goon+north-7625763
The Y-man
Definitely Brisbane for that price range.
Sunny Queensland for me too ! Could stretch that to 2 free standing homes or 3 townhouses / units in Ipswich and come out in front by at least $50 per week.
I put down Brisbane even though I live in Melbourne. Better rental yields generally speaking and capital growth is good.
If it was for PPOR I would buy Melbourne, since rental yields wouldn't matter.
Last time I did a bit of investigating Brisbane on the average house would return 4-5% rental yield whereas in Melbourne was 3-4%.
If it was for PPOR I would buy Melbourne, since rental yields wouldn't matter.
Last time I did a bit of investigating Brisbane on the average house would return 4-5% rental yield whereas in Melbourne was 3-4%.
I agree with your assessment, but I've also found that Brisbane's holding costs are significantly higher.
* Investors are charged higher council rates by the Brisbane City Council.
* Melbourne's property management fees are often around 6%-7%, Brisbane starts at 8%.
* If you don't have a 'water wise' certificate for a Brisbane property, you can end up paying for a significant portion of their water usage (not just the supply).
There's more to it than a simple yield figure.
Brisbane will likely enjoy better growth over the next 12 months. Longer term I thing Melbourne will be one of the better performers across the country.
The biggest long term advantage is that Brisbane has a lower price point. If you're going to look exclusively at price point and on paper yield, Adelaide and Hobart trump all.
